eipts are in the bank's treasure-chest, and here is your letter
received at the bank last Monday." Kitsap opened the letter that had
come to him by express and read:

Picking is progressing well, and the valley will yield a big
crop. A few hungry ranchers are selling at fourteen cents cash
at the warehouse, but I look for better prices later. I hope you
will be willing to carry my receipts _till November, when I look
for a price close to twenty cents_.

As Kitsap read, his voice rose, and, as he ended, there was absolute
silence for an instant. Then the ranchers took their spellbound eyes
from the quivering Indian and looked at the pale face of the speechless
Lamson. The store-keeper looked with the others, and it was his groan
that broke the spell:

"Thunder! I stood to make a thousand on the deal."

Then the overjoyed ranchers found their voices in a wild laugh, and laid
enthusiastic hands on Kitsap. Lamson and the buyers slipped away, beaten
and humiliated, to lament the failure of the fourteen-cent raid, and to
spend a few bitter hours in planning a new offer next morning at a
better price, for there was need to cover promises made to Eastern
houses.

The ranchers quickly formed themselves into a meeting and sent couriers
out to notify all signers of the contract that the deal was off. Then
they appointed a committee to go to the bank next day with Kitsap and be
witnesses to his report to his superiors.

Before another day passed, the spirit of the valley had changed from a
desire to sell quickly for cash into a determination to hold the crop
for a twenty-cent market. The Elliott Bay National secured daily
bulletins from inside sources and kept the world's markets before the
entire valley. Picking progressed to an end, and the Indians held their
last feast and departed. Then buyers came from other markets, inspected
the crop, and made offers. Gradually the valley ranchers joined the lead
of the reservation Indians and placed their receipts with the Elliott
Bay National, to be held for a rise and sold as near twenty cents as
possible. The cashier sent East for a prominent broker, who replied that
he would arrive by the Sound in mid-October. Then the other buyers began
bulling the market, hoping to induce a rancher here and there to sell
and, by thus breaking the ranks, run prices down. But Kitsap, on the
ground, and the cashier, in the bank, were able to hold them together
till the new brok