read his letters with the small people clutching and clawing at his
hands. The others went on talking, to be interrupted a few minutes
later by a surprised exclamation from the master of the house.

"Now, would you believe it! The Company has been bought out!"

"What company?" asked 'Duke Radford.

"Why, the fishing-fleet owners, Barton and Skinner and that lot,"
rejoined Astor M'Kree abstractedly, being again buried in his
letter. He was a boat-builder by trade, and this change in things
might make a considerable difference to him.

"Who is it that has bought the company out?" demanded Mrs. M'Kree
anxiously. Life was quite hard enough for her already; she did not
want it to become more difficult still.

"An Englishman named Oswald Selincourt," replied Astor. "He is
rich, too, and means to put money into the business. He wants me
to have four more boats ready by the time the waters are open, and
says he is coming himself next summer to see into matters a bit.
Now that looks hopeful."

Katherine chanced at that moment to glance across at her father,
and was startled by the look on his face; it was just as if
something had made him desperately afraid. But it was only for a
moment, and then he had got his features into control, so she
hastily averted her head lest he should see her looking, and think
that she was trying to pry into what did not concern her. He
swallowed down the rest of his coffee at a gulp and rose to go.
But his manner now was so changed and uneasy that Katherine must
have wondered at it, even if she had not caught a glimpse of that
dreadful look on his face when Astor M'Kree announced the change in
the ownership of the fishing fleet.

The journey home was taken in a different style from the journey
out: the two sledges were tied together, and both pairs of
snowshoes piled on the hindmost; then, Katherine and her father
taking their places on the first, the dogs started off at a tearing
gallop, which made short work of the two miles of level track, and
gave Katherine and her father plenty of occupation in holding on.
But when they reached the broken ground the pace grew steadier, and
conversation became possible once more.

'Duke Radford began to talk then with almost feverish haste, but he
carefully avoided any mention of the news contained in the
boatbuilder's letter, and a sickening fear of something, she knew
not what, crept into the heart of Katherine and spoiled for her the
glory