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they ain't none of 'em any good no more； them ducks is too pious
for me。〃 I don't know whether you will consider that a compliment
or not。 So the Institute and all its people will welcome you with
acclaims of delight and sighs of relief。 And some one else whom
you adore； and who adores you； will rejoice to see you。 I have
begged her from Maimie for a few precious days。 But that's a
secret； and last of all and least of all； there is
Your friend；
KATE。
P。 S。Of course you will be at the party to…morrow night。 Maimie
looks lovelier than ever； and she will be so glad to see you。
K。
〃What a trump she is；〃 murmured Ranald； 〃unselfish； honest to the
core； and steady as a rock。 'Some one else whom you adore。' Who
can that be？ By Jove； is it possible？ I will go right up to…night。〃
His last letter was from Mr。 St。 Clair； who was the chief executive
of the firm。 He glanced over it hurriedly； then with a curious
blending of surprise； perplexity； and dismay on his face； he read
it again with careful deliberation：
MY DEAR RANALD： Welcome home！ We shall all be delighted to see
you。 Your letter from North Bay； which reached me two days ago；
contained information that places us in rather an awkward position。
Last May； just after you left for the north； Colonel Thorp； of the
British…American Coal and Lumber Company； operating in British
Columbia and Michigan； called to see me； and made an offer of
75；000 for our Bass River limits。 Of course you know we are
rather anxious to unload； and at first I regarded his offer with
favor。 Soon afterwards I received your first report； sent
apparently on your way up。 I thereupon refused Colonel Thorp's
offer。 Then evidently upon the strength of your report； which I
showed him； Colonel Thorp； who by the way is a very fine fellow；
but a very shrewd business man； raised his offer to an even hundred
thousand。 This offer I feel inclined to accept。 To tell you the
truth； we have more standing timber than we can handle； and as you
know； we are really badly crippled for ready money。 It is a little
unfortunate that your last report should be so much less favorable
in regard to the east half of the limits。 However； I don't suppose
there is any need of mentioning that to Colonel Thorp； especially
as his company are getting a good bargain as it is； and one which
of themselves； they could not possibly secure from the government。
I write you this note in case you should run across Colonel Thorp
in town to…morrow； and inadvertently say something that might
complicate matters。 I have no doubt that we shall be able to close
the deal in a few days。
Now I want to say again how delighted we all are to have you back。
We never realized how much we were dependent upon you。 Mr。 Raymond
and I have been talking matters over； and we have agreed that some
changes ought to be made； which I venture to say will not be
altogether disagreeable to you。 I shall see you first thing in the
morning about the matter of the limits。
Maimie has got home； and is； I believe； expecting you at her party
to…morrow night。 Indeed； I understand she was determined that it
should not come off until you had returned； which shows she shares
the opinion of the firm concerning you。
I am yours sincerely；
EUGENE ST。 CLAIR。
Ranald sat staring at the letter for a long time。 He saw with
perfect clearness Mr。 St。 Clair's meaning； and a sense of keen
humiliation possessed him as he realized what it was that he was
expected to do。 But it took some time for the full significance of
the situation to dawn upon him。 None knew better than he how
important it was to the firm that this sale should be effected。
The truth was if the money market should become at all close the
firm would undoubtedly find themselves in serious difficulty。 Ruin
to the company meant not only the blasting of his own prospects；
but misery to her whom he loved better than life； and after all；
what he was asked to do was nothing more than might be done any day
in the world of business。 Every buyer is supposed to know the
value of the thing he buys； and certainly Colonel Thorp should not
commit his company to a deal involving such a large sum of money
without thoroughly informing himself in regard to the value of the
limits in question； and when he； as an employee of the Raymond and
St。 Clair Lumber Company； gave in his report； surely his
responsibility ceased。 He was not asked to present any incorrect
report； he could easily make it convenient to be absent until the
deal was closed。 Furthermore； the chances were that the British…
American Coal and Lumber Company would still have good value for
their money； for the west half of the limits was exceptionally
good； and besides； what right had he to besmirch the honor of his
employer； and to set his judgment above that of a man of much
greater experience？ Ranald understood also Mr。 St。 Clair's
reference to the changes in the firm； and it gave him no small
satisfaction to think that in four years he had risen from the
position of lumber checker to that of manager； with an offer of a
partnership； nor could he mistake the suggestion in Mr。 St。 Clair's
closing words。 Every interest he had in life would be furthered by
the consummation of the deal； and would be imperiled by his
refusing to adopt Mr。 St。 Clair's suggestion。 Still； argue as he
might； Ranald never had any doubt as to what； as a man of honor； he
ought to do。 Colonel Thorp was entitled to the information that he
and Mr。 St。 Clair alone possessed。 Between his interests and his
conscience the conflict raged。
〃I wish I knew what I ought to do；〃 he groaned； all the time
battling against the conviction that the information he possessed
should by rights be given to Colonel Thorp。 Finally； in despair of
coming to a decision； he seized his hat； saying； 〃I will go and see
Kate；〃 and slipping out of a side door； he set off for the Raymond
home。 〃I will just look up Coley on the way；〃 he said to himself；
and diving down an alley； he entered a low saloon with a billiard
hall attached。 There； as he had expected； acting as marker； he
found Coley。
Mike Cole； or Coley； as his devoted followers called him； was king
of St。 Joseph's ward。 Everywhere in the ward his word ran as law。
About two years ago Coley had deigned to favor the Institute with a
visit； his gang following him。 They were welcomed with
demonstrations of joy； and regaled with cakes and tea； all of which
Coley accepted with lordly condescension。 After consideration；
Coley decided that the night classes might afford a not unpleasant
alternative on cold nights； to alley…ways and saloons； and he
allowed the gang to join。 Thenceforth the successful conduct of
the classes depended upon the ability of the superintendent to
anticipate Coley's varying moods and inclinations； for that young
man claimed and exercised the privilege of introducing features
agreeable to the gang； though not necessarily upon the regular
curriculum of study。 Some time after Ranald's appearance in the
Institute as an assistant； it happened one night that a sudden
illness of the superintendent laid up