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stores and more hotels and more churches and more schools and more places of amusement were needed. And the fire fed on its own fury and spread to lengths undreamed by those who first set the match to the dry grass.

The process of speculation was as easily defined. The first buyers were cautious; they looked over the vacant lots carefully; weighed their advantages and disadvantages; the prospect of the city growing this way or that. But scarcely had they bought when they sold again at a profit, and were seized with a quick regret that they had not bought more, or earlier. Soon the caution of the early transactions was forgotten in the rush for more lots which, almost immediately, could be re-sold at a profit. Judgment and discretion became handicaps in the race; the successful man was he who threw all such qualities to the winds. Fortunes were made; intrinsic values were lost sight of in the glare of great and sudden profits. Prices mounted up and up, and when calmer counsels held that they had reached their limits all such counsels were abashed by prices soaring higher still.

And the firm of Conward & Elden had profited not the least in these wild years of gain-getting. Their mahogany finished first floor quarters were the last word in office luxuriance. Conward's private room might with credit have housed a premier or a president. Its purpose was to be impressive, rather than to give any other service, as Conward spent little of his time therein. On Dave fell the responsibility of office management, and his room was fitted for efficiency rather than luxury. It commanded a view of the long general office where a battery of stenographers and clerks took care of the detail of the business of Conward & Elden. And Dave had established his ability as an office manager. His fairness, his fearlessness, his impartiality, his courtesy, his even temper—save on rare and excusable occasions—had won from the staff a loyalty which Conward, with all his abilities as a good mixer, could never have commanded.

He had prospered, of course. His statement to his banker ran into seven figures. For years he had not known the experience of being short of money for any personal purpose. Occasionally, at first, and again of late, the firm had found it necessary to resort to high finance. This was usually accomplished by getting a bank so deeply involved in their speculations that, in moments of emergency, it dared not desert them if it would. There are ways of doing that. And always the daring of Conward and the organization of Elden had justified themselves. Dave was still a young man, not yet in his thirties; he was rated a millionaire; he had health, comeliness, and personality; he commanded the respect of a wide circle of business men, and was regarded as one of the matrimonial prizes of the city; his name had been discussed for public office; he was a success.

And yet this night, as he sat in his comfortable rooms and watched the street lights come fluttering on as twilight silhouetted the great hills to the west, he was not so sure of his success. A gas fire burned in the grate, rippling in blue, sinuous waves, and radiating an agreeable warmth on the May evening air. Dave finished his cigar and stood by the window, where the street light now poured in, blending its pale effulgence with the blue radiance from the grate. He was a man to be admired. His frame a trifle stouter than when we last saw him, but still supple and firm; the set of the shoulders, the taper of the body to the waist, the keen but passive face, the poise of the whole figure was that of one who, tasting of the goodness of life, had not gormandized thereon. He was called a success, yet in the honesty of his own soul he feared the coin did not ring true. Conward had insisted more and more upon "weighing the coal." And Dave had concerned himself less and less with the measure. That was what worried him. He felt that the crude but honest conception of the square deal which was the one valuable heritage of his childhood was slipping away from him. He had little in common with Conward outside of their business relationship. He suspected the man vaguely, but had never found tangible ground for his suspicion. Dave did not drink, and those confidences peculiar to a state of semi-intoxication were denied him. He was afraid to drink, not with the fear of the craven, but with the fear of a man who knows his enemy's advantage. He had suffered in his own home, and he feared the enemy, and would make no truce. Neither was he seduced by the vices which the possession of wealth made easy to his hand. He counted more as a dream—a sort of supernalism out of the past—that last night and that last compact with Irene Hardy, but it had been anchorage for his soul on more than one dangerous sea, and he would not give it up. Some time, he supposed, he should take a wife, but until then that covenant, sealed by the moonlight to the approving murmur of the spruce trees, should stand as his one title of character against which no caveat might be registered.

He was turning this very matter over in his mind, and wondering what the end would be, when a knock came at the door.

"Come," he said, switching on the light… "Oh, it's you, Bert. I am honoured. Sit down."

The girl threw her coat over a chair and sank into another. Without speaking she extended her shapely feet to the fire, but when its soothing warmth had comforted her limbs she looked up and said,

"Adam sure put it over on us, didn't he?"

"Still nursing that grievance over your sex," laughed Dave. "I thought you would outgrow it."

"I don't blame him," continued the girl, ignoring his interruption. "I am just getting back from forty-seven teas. Gabble, gabble, gabble. I don't blame him. We deserve it."

"Then you have had nothing to eat?"

"Almost. Only insignificant indigestibles."

Dave pressed a button, and a Chinese boy (all male Chinese are boys) entered, bowing in that deference which is so potent to separate the white man from his silver. The white man glories in being salaamed, especially by an Oriental, who can grovel with a touch of art. And the Oriental has not been slow to capitalize his master's vanity.

"Bring something to eat. Go out for it, and be quick. For two."

"Ice cleam? Toast? Tea—"

"No! Something to eat! Soup, flied chicken, hot vegetables, dessert, everything."

"You've had your dinner, surely?" asked Bert.

"Such a dinner as a man eats alone," he answered. "Now for something real. You stick to the paper like the ink, don't you, Bert?"

"Can't leave it. I hate it—and I love it. It's my poison and my medicine. Most of all I hate the society twaddle. And, of course, that's what I have to do."

"And you write it up so gloriously," said Dave. "Enthusiasm in every line of it."

"You read it, then? I thought all men looked on the society page with contempt."

"They do. But they look on it just the same—long enough to see whether their names appear among those present."

"Or whose husband is out of town?"

"You're growing more cynical all the time."

"How can I help it, when I see both sides of the game? If I printed half what I know I'd have every lawyer in this city busy to-morrow—except those who skipped out over-night."

"You know it," Dave agreed. "But here is dinner." The boy wheeled a table between them, and there was a savoury smell of hot food.

"A recherché repast," screamed Bert, half through her soup, with a great burst of merriment. "Oh, I must tell you. You remember the Metfords? You used to shovel coal for them. I know you're no snob, or I wouldn't put it so brutally. Of course, they're rich. Sold the old stable-yard for a quarter of a million, or thereabouts, and are now living in style. Some style! When they have guests, as they nearly always have—there'll be parasites as long as there's easy money—old man Metford eats breakfast in evening dress. And she orders the chiffonier to take the guests down to the depôt in their Packer. But one thing has gone to her heart. She didn't realize in time that it wasn't good form to be prolific. Now that she knows three is the limit she has sent the other six to the country. But that isn't what I started on. She called up this morning and gave me hell because I said yesterday that she had served a recherché repast at some function they pulled off the other night. 'See here, young woman,' she says, 'I want you to understand there's none of that recherché stuff on my table. Nothing short of champagne, every drop of it.' I just yelled."

"Why didn't you print a retraction?"

"I don't know."

"I do. It's because, Miss Roberta, beneath your cynicism and your assumption of masculinity, you are as sympathetic as a young mother. It would be mean to put over anything like that, and you just can't do it."

"Nonsense. You see what I print at times—"

"Bert," he said suddenly, "why don't you get married?"

"Who, me?" Then she laughed. "I guess I'm too sympathetic. It would be mean to put over anything like that on a man, and a girl wouldn't have me."

"Well, then, why don't you buy some real estate?" he continued, jocularly. "Every man should have some dissipation—something to make him forget his other troubles."

"A little late in the meal for that word, isn't it?"

He stared a moment, and then sprang to his feet. "I beg your pardon. What will you drink?"

"What you drink."

"But I drink coffee."

"So do I… I may be mannish, Dave, but I don't think I'm a fool. I can understand a man drinking, but not a woman. It's too dangerous.… But I'll smoke a cigarette.

"Now, as for real estate. The fact is, I have invested."

A look came into his face which she did not understand. "With whom?" he demanded, almost peremptorily.

"With Conward & Elden," she answered, and the roguishness of her voice suggested that her despised femininity lay not far from the surface. "Were you about to be jealous?"

"Why didn't you come to me?" She realized that he was in deep earnest.

"I did," she answered, candidly. "At least, I asked for you, but you were out of town, so Conward took me in hand, and I followed his advice."

"Do you trust Conward?" he demanded almost fiercely.

"Well, he's good enough to be your partner, isn't he?"

The thrust hurt more than she knew. He had his poise again.

"Real estate is the only subject I would trust him on," she continued. "I must say, Dave, that for a shrewd business man you are awfully dense about Conward."

He remained silent for a few moments. He decided not to follow her lead. He knew that if she had anything explicit to say about Conward she would say it when she felt the time to be opportune, and not until then. He returned to the matter of her speculation.

"How much did you invest?"

"Not much. Just what I had."

"You mean all your savings?"

"Why not? It's all right, isn't it?"

He had risen and was standing again by the window. The long line of lights stretched out until they became mere diamond points on the velvet bosom of the night. Motor cars sped noiselessly to and fro, save where, at the corner below, chauffeurs exercised their sirens. But neither the lights, nor the night, nor the movement and noises of the street had any part in the young man's consciousness.

"It's all right, isn't it?" she repeated.

"I'm afraid it isn't," he said at length, in a restrained voice. "I'm afraid it isn't."

"What do you mean?" she demanded. There was an accusation in her eyes that

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