Singleton came down again to Brantholme, bringing his amended report, which met with Herbert\'s approval. He spent one wet day walking through turnip fields and stubble in search of partridges, and two delightful evenings with Mrs. Lansing and Sylvia, and then he was allowed to depart. He had served his purpose, and Herbert was glad to get rid of him. Lansing generally found it desirable to drop men for whom he had no more use; but he had not done with Singleton.

A day or two later, after his guest had left, Herbert sat in his office in a busy town with an open ledger in front of him. He looked thoughtful, and, as a matter of fact, he was reviewing the latter part of his business career, which had been marked by risks, boldly faced, but attended by keen anxiety. Though his wife had some money, Lansing had been hampered by lack of capital, and George\'s money had been placed at his disposal at a very opportune time. It had enabled him to carry the rubber company over what might have proved a crisis, and thus strengthen his position as director, by purchasing sufficient shares on George\'s account to keep the price from falling and defeat the intrigues of a clique of discontented investors. Now, however, the strain had slackened; Herbert\'s schemes had succeeded, and he had only to take his profit by selling out as quietly as possible. He had already given a broker orders to do so. He rather regretted that he could not dispose of George\'s shares, but these must be kept a little longer; to throw a large quantity upon the market would have a depressing effect and might arouse suspicion.

Presently a man with whom he had dealings was shown in and sat down. His appearance indicated some degree of prosperity, but he looked disturbed and anxious.

"I met Jackson yesterday, and after what he told me of his interview with you, I thought I\'d better run up and see you at once," he explained.

Herbert had expected the visit.

"I\'m at your service," he said.

"What about the new company? I understand you haven\'t come to any decision yet about the suggestions we sent you for its flotation."

"No," replied Herbert. "In fact, I\'ve reasons for believing it wouldn\'t be wise to go any farther in the matter."

The other looked at him in astonishment.

"Well," he said, "I heard that you were not so enthusiastic as you were
not long ago, which is why I came down; but I never expected this!
Anyway, after what we have done, you are bound to go on with the thing.
Our success with the first company will help the shares off."

"That\'s not certain." Herbert handed him a paper. "You haven\'t seen
Singleton\'s report."

The man read it hastily, his face changing. Then he looked up with signs of strong indignation.

"You let him give you a thing like this? Paid him for it?"

"What could I do? The man\'s honest. He declares the country\'s dangerous; he had two carriers killed. There\'s no prospect of our obtaining the needful native labor."

"Send somebody else out at once!"

"With the same result. Besides, it\'s expensive. Singleton\'s fee wasn\'t so big, because he shared the cost of his orchid collecting or something of the kind with us. Then he might talk, and there would always be the risk of somebody\'s challenging us with suppressing his report. If things went wrong, that would lead to trouble."

"Would there be any use in my seeing him?"

Herbert smiled. Singleton would not turn against him; Sylvia had made her influence felt.

"Not the slightest," he answered. "You can take that for granted."

His visitor pondered for a moment or two; and then he crumpled the report in his hand, growing red in the face.

"You seem content with this production. It looks as if you had meant to back out."

Herbert looked at him tranquilly.

"Well," he said, "that\'s my intention now; and I don\'t think that you can induce me to alter it. I can\'t see that we would be justified in floating the concern."

"But it was you who suggested it and led us on! What about the money we have already spent?"

"It\'s gone. I\'m sorry, but things don\'t always turn out right. When I first mentioned the matter, the prospects looked good; investigation places them in a less favorable light, for which you can hardly hold me responsible. You took a business risk."

The other man angrily flung the report on the table.

"This has been a blow to me, and I\'m far from appreciating the course you\'ve taken. But what about the older concern? Though we don\'t seem to have turned out much rubber yet, I suppose its position is still satisfactory?"

Herbert saw suspicion in the man\'s face and he rang a bell.

"I think you had better satisfy yourself; I have the necessary particulars here."

He indicated some books on a neighboring shelf; and then added, when a clerk appeared:

"Will you bring me the extract of our working expenses that I asked you to make out?"

The clerk came back with a sheet of figures, which Herbert handed to his visitor with one of the books, and the man spent some time carefully examining them.

"Everything looks satisfactory; I\'ve no fault to find," he said at length. "But I feel very sore about your giving up the new undertaking."

"It can\'t be helped," explained Herbert. "If it\'s any comfort to you,
I dropped as much money over preliminary expenses as you did."

After a little further conversation, his visitor left and Herbert resumed his work. On the whole, the interview had been less embarrassing than he expected, and though it was likely that the rest of his colleagues would call and expostulate, he was ready to meet them. His excuse for abandoning the project was, on the face of it, a good one; but he had no thought of giving these men, who were largely interested in the original company, a word of warning. It was undesirable that they should sell their shares until he had disposed of his. They had, he argued, the same opportunities for forecasting the course of the market and gaging the trend of investors\' ideas as he enjoyed, and if they did not make use of them, it was their fault. The stock had reached a satisfactory premium, which was all that he had promised; he could not be expected to guarantee its remaining at the high level.

During the next three or four weeks his broker sold out his shares in small blocks, and when the quantity had been largely reduced, Herbert decided that he would dispose of those he had purchased on George\'s account. Though there were signs of a diminishing interest in such stock, values had scarcely begun to fall, and having made his position secure, he did not wish his cousin to incur a loss. Accordingly he sent instructions to sell another lot of shares.

He was very busy the next day when a telegram was brought him, but he sat still for some minutes considering it. The market, it stated, had suddenly fallen flat, and as prices were giving way sharply, further orders were requested. The change Herbert had foreseen had come a little sooner than he had expected. He still hel............