bag holders, Brouillard. Let me put it in a nutshell: we're building a cement plant, and we shall sell you the output—at a good, round price, I promise you, but still at a lower figure than you're paying for the imported article now, or than you will pay even after the railroad gets in. When our government orders are filled we can afford to wreck the plant for what it will bring as junk. We'll be out of it whole, with a nice little profit."

"That is only one instance," objected the guest.

"Well, Bongras, here, is one more," laughed the host. "He gets a piece of his investment back every time anybody looks over his menu card. And our power plant is another. You made your little kick on that to Washington—you thought the government ought to control its own power. That was all right, from your point of view, but we beat you to it. Now the Reclamation Service gets all the power it needs at a nominal price, and we're going to sell enough more to make us all feel happy."

"Sell it? To whom?"

Mr. Cortwright leaned back in his chair and the sandy-gray eyes seemed to be searching the inner recesses of the querying soul.

"That's inside information, but I don't mind taking you in on it," he said between leisurely puffs at his cigar. "We've just concluded a few contracts: one with Massingale—he's going to put in power drills, electric ore-cars, and a modern equipment generally and shove the development of the 'Little Susan'; one with a new mining syndicate which will begin operations at once on half a dozen prospects on Jack's Mountain; and one with a lumber combination that has just taken over the sawmills, and will install others, with a planing-mill and sash factory."

Brouillard nodded. The gray eyes were slowly hypnotizing him.

"But that isn't all," continued the promoter. "We are about to reincorporate the power plant as the Niquoia Electric Power, Lighting, and Traction Company. Within a fortnight we'll be lighting Mirapolis, and within a month after the railroad gets in we'll be operating trolley-cars."

The enthusiast paused to let the information sink in, also to note the effect upon the subject. The noting was apparently satisfactory, since he went on with the steady assurance of one who sees his way clearly.

"That brings us down to business, Brouillard. I don't mind admitting that I had an object in asking you to dine with me 

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