MacRae learned before long that old Manuel Ferrara was right when he said no man could profitably buy salmon unless he had a cast-iron agreement either with a cannery or a big wholesaler. MacRae soon saw that the wholesaler stood like a wall between the fishermen and those who ate fish. They could make or break a buyer. MacRae was not long running afoul of the rumor that the wholesale fish men controlled the retail price of fresh fish by the simple method of controlling the supply, which they managed by coöperation instead of competition among themselves. He heard this stated. And more,—that behind the big dealers stood the shadowy figure of the canning colossus. This was told him casually by fishermen. Fish buyers repeated it, sometimes with a touch of indignation. That was one of their wails,—the fish combine. It was air-tight, they said. The packers had a strangle hold on the fishing waters, and the big local fish houses had the same unrelenting grip on the market.

Therefore the ultimate consumer—whose exploitation was the prize plum of commercial success—paid thirty cents per pound for spring salmon that a fisherman chivied about in the tumbling Gulf seas fifty miles up-coast had to take fourteen cents for. As for the salmon packers, the men who pack the good red fish in small round tins which go to all the ends of the earth to feed hungry folk,—well, no one knew their profits. Their pack was all exported. The back yards of Europe are strewn with empty salmon cans bearing a British Columbia label. But they made money enough to be a standing grievance to those unable to get in on this bonanza.

MacRae, however, was chiefly concerned with the local trade in fresh salmon. His plan didn't look quite so promising as when he mulled over it at Squitty Cove. He put out feelers and got no hold. A fresh-fish buyer operating without approved market connections might make about such a living as the fishermen he bought from. To Jack MacRae, eager and sanguine, making a living was an inconspicuous detail. Making a living,—that was nothing to him. A more definite spur roweled his flank.

It looked like an air-tight proposition, he admitted, at last. But, he said to himself, anything air-tight could be punctured. And undoubtedly a fine flow of currency would result from such a puncture. So he kept on looking about, asking casual questions, listening. In the language of the street he was getting wise.

Incidentally he enjoyed himself. The battle ground had been transferred to Paris. The pen, the typewriter, and the press dispatch, with immense reserves of oratory and printer's 

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