"That would hardly support the Hong Kong dollar."

"Yes, yes our bankers know that. But Blacs, the Victoria and Bank of England decided this would be best in the interim. We just don't have enough Hong Kong cash to satisfy every depositor."

The silence thickened. Dunross waited. Johnjohn had told him he believed the Bank of China did not have substantial reserves of pounds because of the currency restrictions on their movement in and out of Britain but had very substantial amounts of Hong Kong dollars for which there were no export restrictions.

"It would not be at all good for the Hong Kong dollar to be weakened," Tip Tok-toh said. He blew his nose noisily. "Not good for Hong Kong."

"Yes."

Tip Tok-toh's eyes hardened and he leaned forward. "Is it true, tai-pan, that the Orlin Merchant Bank won't renew your revolving fund?"

Dunross's heart picked up a beat. "Yes."

"And true that your fine bank will not cover this loan or advance you enough to stave off the Rothwell-Gornt attack on your stock?"

"Yes." Dunross was very pleased to hear the calm quality of his voice.

"And true that many old friends have refused credit to you?"

"Yes."

"And true that thea the person Hiro Toda arrives this afternoon and requires payment for ships ordered from his Japanese shipyards shortly?"

"Yes."

"And true that Mata and Tung and their Great Good Luck Company of Macao have tripled their normal order for gold bullion but will not help you directly?"

"Yes." Dunross's already fine-tuned concentration increased.

"And true that the running-dog Soviet hegemonists have once more, impudently, very very impudently, applied for a banking charter in Hong Kong?"

"I believe so. lohnjohn told me they had. I'm not sure. I would presume he would not tell me a falsehood."

"What did he tell you?"

Dunross repeated it verbatim, ending, "Certainly the application would be opposed by me, the boards of all British banks, all the tai-pans and the governor. Johnjohn also said the hegemonists had the temerity to offer immediate and substantial amounts of HK dollars to assist them in their present trouble."

Tip Tok-toh finished his coffee. "Would you like some more?"

"Thank you." Dunross noted that L'eung poured and he felt he had achieved a great step forward. Last night he had delicately mentioned the Moscow bank to Phillip Chen, knowing that Phillip would know how to pass the information on, which would of course indicate to such an astute man as Tiptop the real reason for the urgent meeting and so give him the necessary time to contact the decision~maker who would assess its importance and ways to acquiesce or not. Dunross could feel a sheen of sweat on his forehead and prayed that neither of the men opposite him noticed it. His anxiety would push the price up if a deal was to be made.

"Terrible, terrible," Tiptop said thoughtfully. "Terrible times! Old Friends forsaking Old Friends, enemies being welcomed to the heartha terrible. Oh by the way, tai-pan, one of our old friends asks if you could get him a shipment of goods. Thorium oxide I think it was."

With a great effort Dunross kept his face clean. Thorium oxide was a rare earth, the essential ingredient for old-fashioned gas mantles: it made the mantle emit its brilliant white light. Last year he had happened to hear that Hong Kong had recently become the greatest user after the United States. His curiosity had peaked as Struan's were not in what must clearly be a profitable trade. Quickly he had found out that access to the material was relatively easy and that the trade was prodigious, quite secret, with many small importers, all of them very vague about their business. In nature, thorium occurred in various radioactive isotopes. Some of these were easily converted into fissionable uranium 235, and thorium 232 itself was an enormously valuable breeder material for an atomic pile. Of course, these and many other thorium derivatives were restricted strategic materials but he had been astounded to discover the oxide and nitrate, chemically easily convertible, were not.

He could never find out where the thorium oxides actually went. Of course into China. For a long time, he and others had suspected the PRC of having a crash atomic program, though everyone believed it had to be formulative and at least ten years from fruition. The idea of China nuclear armed filled him with mixed feelings. On the one hand, any nuclear proliferation was dangerous; on the other, as a nuclear power China would instantly become a formidable rival to Soviet Russia, even an equal to Soviet Russia, even a threat, certainly unconquerable particularly if it also had the means to deliver a retaliatory strike.

Dunross saw both men looking at him. The small vein in L'eung's forehead was pulsing though his face was impassive. "That might be possible, Mr. Tip. How much would be needed and when?"

"I believe immediately, as much as can be obtained. As you know, the PRC is attempting to modernize but much of our lighting is still by gas."

"Of course."

"Where would you obtain the oxides or nitrates?"

"Australia would probably be the quickest, though I've no idea at this moment about quality. Outside of the United States," he added delicately, "it's only found in Tasmania, Brazil, India, South Africa, Rhodesia and the Uralsa big deposits there." Neither man smiled. "I imagine Rhodesia and Tasmania'd be best. Is there anyone Phillip or I should deal with?"

"A Mr. Vee Cee Ng, in Princes Building."

Dunross bit back a whistle as another piece of the puzzle fell into place. Mr. Vee Cee Ng, Photographer Ng, was a great friend of Tsu-yan, the missing Tsu-yan, his old friend and associate who had mysteriously fled into China over the Macao border. Tsu-yan had been one of the thorium importers. Up to now, the connection had been meaningless. "I know Mr. Ng. By the way, how is my old friend, Tsu-yan?"

L'eung was plainly startled. Bull's-eye, Dunross thought grimly, shocked that he had never once suspected Tsu-yan of being Communist or having Communist leanings.

"Tsu-yan?" Tiptop frowned. "I haven't seen him for a week or more. Why?"

"I heard he was visiting Peking by way of Macao."

"Curious! That's very curious. I wonder why he'd want to do that an arch-capitalist? Well, wonders will never cease. If you'd be kind enough to contact Mr. Ng direct, I'm sure he will give you the details."

"I'll do that this morning. As soon as I get back to the office."

Dunross waited. There would be other concessions before they would grant what he sought, if it was to be granted. His mind was racing with the implication of their first request, how to get thorium oxides, whether to get them, wanting to know how far along the PRC was with its atomic program, knowing they would never tell him that. L'eung took out a pack of cigarettes and offered it.

"No thanks," he said.

Both men lit up. Tiptop coughed and blew his nose. "It's curious, tai-pan," he said, "very curious that you go out of your way to help the Victoria and Blacs and all your capitalist banks while the strong rumor is that they'll not help you in your need."

"Perhaps they'll see the error of their ways,') Dunross said. "Sometimes it's necessary to forget present advantages for the common good. It would be bad for the Middle Kingdom for Hong Kong to falter." He noted the scorn on L'eung's face but it did not bother him. "It's ancient Chinese doctrine not to forget Old Friends, trusted ones, and as long as I'm tai-pan of the Noble House and have power, Mr. Tip, I and those like me Mr. Johnjohn for one, our governor for another will give eternal friendship to the Middle Kingdom and will never permit hegemonists to thrive on our barren rock."

Tiptop said sharply, ''It is our barren rock, Mr. Dunross, that is presently administered by the British, is it not?"

"Hong Kong is and always was earth of the Middle Kingdom."

"I will let your definition pass for the moment but everything in Kowloon and the New Territories north of Boundary Road reverts to us in thirty-five-odd years doesn't it even if you accept the Unequal Treaties forced on our forebears which we don't."

"My forebears have always found their Old Friends wise, very wise, and never men to cut off their Stalks to spite a Jade Gate."

Tiptop laughed. L'eung continued to be set-faced and hostile.

"What do you forecast will happen in 1997, Mr. Dunross?"

"I am not Old Blind Tung, nor a soothsayer, Mr. Tip." Dunross shrugged. "1997 can take care of 1997. Old friends will still need old friends. Heya7"

After a pause Tiptop said, "If your bank will not help the Noble House, nor Old Friends, nor Orlin, how will you remain the Noble House?"

"My forebear, Green-Eyed Devil, was asked the same question by the Great and Honorable Jin-qua when he was beset by his enemies, Tyler Brock and his scum, and he just laughed and said, 'Neng che to lao' an able man has many burdens. As I'm abler than most I have to sweat more than most."

Tip Tok-toh smiled with him. "And you are sweating, Mr. Dun- ross?"

"Well, let me put it this way," Dunross told him cheerfully, "I'm trying to avoid the eighty-fourth. As you know, Buddha said that all men have eighty-three burdens. If we succeed in eliminating one we automatically acquire another. The secret of life is to adjust to eighty-three and avoid at all costs acquiring the eighty-fourth."

The older man smiled. "Have you considered selling part of your company, perhaps even 51 percent?"

"No, Mr. Tip. Old Green-Eyed Devil forbade that." The lines around Dunross's eyes crinkled. "He wanted us to sweat."

"Let us hope you don't have to sweat too much. Yes." Tiptop stubbed out his cigarette. "In troubled times it would be good for the Bank of China to have a closer liaison with your banking system. Then these crises would not be so continuous."

Instantly Dunross's mind leaped forward. "I wonder if the Bank of China would consider having a permanent contact stationed within the Vic and an equivalent one in yours?" He saw the fleeting smile and knew he had guessed correctly. "That would ensure close monitoring of any crisis, and assist you should you ever need international assistance."

"Chairman Mao advises self-help and that's what we are doing. But your suggestion might be worthwhile. I will be glad to pass it on."

"I'm sure the bank would be grateful if you would recommend someone to be their contact with the great Bank of China."

"I would be glad to pass that on too. Do you think Blacsor the Victoria would advance the necessary foreign exchange for Mr. Ng's imports?"

"I'm sure they'd be delighted to be of service, the Victoria certainly. After all, the Victoria has had a century and more of association with China. Wasn't it instrumental in making most of your foreign loans, railway loans, aircraft loans?"

"To great profit," Tiptop said dryly. His eyes darted at L'eung who was staring intently at Dunross. "Capitalist profit," he added thinly.

"Quite," Dunross said. "You must excuse us capitalists, Mr. Tip. Perhaps our only defense is that many of us are Old Friends of the Middle Kingdom."

L'eung spoke to Tiptop briefly in a dialect Dunross did not understand. Tiptop answered him affirmatively. Both men looked back at him. "I'm sorry but you must excuse me now, Mr. Dunross, I really must get some medication. Perhaps you'd phone me here after lunch, say around 2:30."

Dunross got up and stretched out his hand, not sure if he had succeeded but very sure he had better do something about the thorium very quickly, certainly before 2:30. "Thank you for seeing me."

"What about our fifth race?" The older man peered up at him, walking with him to the door.

"Noble Star's worth a bet. Each way."

"Ah! Butterscotch Lass?"

"Same."

"And Pilot Fish?"

Dunross laughed. "The stallion's good but not in the same class, unless there's an act of God, or the devil."

They were at the front door now and a servant had opened it wide. Again L'eung spoke in the dialect Dunross did not recognize. Again Tiptop answered affirmatively and led the way outside. At once L'eung walked off down toward the tennis court.

"I'd like you to meet a friend, a new friend, Mr. Dunross," Tiptop said. "He could, perhaps, be doing a lot of business with you in the future. If you wish."

Dunross saw the flinty eyes and his good humor vanished.

The Chinese coming back with L'eung was well formed, fit and in his forties. His hair was blue-black and tousled from his game, his tennis clothes modern, smart and American. On the court behind him, the other three waited and watched. All were fit and well dressed.

"May I introduce Dr. Joseph Yu from California? Mr. Ian Dunross."

"Hi, Mr. Dunross," Joseph Yu said with easy American familiarity. "Mr. Tip's filled me in on you and Struan's happy to meet you. Mr. Tip thought we should meet before I leave we're going into China tomorrow, Betty 'n' I, my wife and I." He waved a vague hand toward one of the women on the tennis court. "We're not expecting to come back for some time so I'd like to make a date to meet in Canton in a month or so." He glanced back at Tiptop. "No trouble about Mr. Dunross's visa, anything like that?"

"No, Dr. Yu. Oh no. None at all."

"Great. If I give you a call, Mr. Dunross, or Mr. Tip does, can we arrange something at a couple days' notice?"

"Certainly, if all the paper work's done." Dunross kept the smile on his face, noticing the assured hardness in Yu. "What had you in mind?"

"If you'll excuse us,t' Tiptop said, "we'll leave you two together." He nodded politely and went back inside with L'eung.

"I'm from the States," Yu continued cheerfully, "American born, Sacramento. I'm third-generation California though I was educated, in parts in Canton. My Ph.D. is from Stanford, aerospace engineering, my specialty rocketry and rocket fuels. NASA's where I've spent my best years, best since college." Yu was no longer smiling. "The equipment I'll be ordering will be all manner of sophisticated metallurgy and aerospace hardware. Mr. Tip said you'd be our best bet as the importer. The British, then the French and Germans, maybe Japanese will be the manufacturers. You interested?"

Dunross listened with growing concern that he did not bother to hide.

"If it's not strategic and not restricted," he said.

"It'll be mostly strategic and mostly restricted. You interested?"

"Why're you telling me all this, Dr. Yu?"

Yu's mouth smiled. "I'm going to reorganize China's space pro- gram." His eyes slitted even more as he watched Dunross carefully. "You find that surprising?"

"Yes."

"So do I." Yu glanced at his wife, then back to Dunross. "Mr. Tip says you're to be trusted. He feels you're fair and since you owe him one or two, you'll pass on a message for me." Yu's voice hardened. "I'm telling you so that when you read about my demise or kidnapping or some 'while his mind was disturbed' crap, you'll know it's all lies and as a favor will pass back that message to the CIA and from them up the line. The truth!" He took a deep breath. "I'm leaving of my own free will. We both are. For three generations our folk and my people, who're the best goddamn immigrants there are, have been kicked around in the States by Americans. My old man was in the First World War and I helped make the Big Bang, but the last goddamn straw was two months ago. June 16. Betty 'n' I wanted a house in Beverly Hills. Are you familiar with Beverly Hills in Los Angeles?"

"Yes."

"We were turned down because we were Chinese. The son of a bitch came out and said it. 'I'm not selling-to goddamn Chinese.' That wasn't the first time, hell no, but the son of a bitch said it in front of Betty and that was it. That was the big one!" Yu's lips twisted with anger. "Can you imagine the stupidity of that bastard? I'm the best there is in my field and that red-neck horse's ass says 'I'm not selling to Chinese.'" He spun his racket in his hands. "You'll tell them?"

"Do you want me to pass this information on privately or pub- licly? I will quote you verbatim if you wish."

"Privately to the CIA, but not before next Monday at 6:00 P.M. Okay? Then next month, after our Canton meeting, it's public. Okay, Mr. Dunross?"

"Very well. Can you give me the name of the house seller, the date, any details?"

Yu took out a typed slip of paper.

Dunross glanced at it. "Thank you." There were two names and addresses and phone numbers in Beverly Hills. "Both the same refusal?"

"Yes."

"I'll take care of it for you, Dr. Yu."

"You think that's petty, huh?"

"No, I don't think so at all. I'm just so sorry that it happened and happens everywhere to all sorts of people. It's greatly saddening." Dunross hesitated. "It happens in China, Japan, here all over the world. Chinese and Japanese, Vietnamese, all manner of people, Dr. Yu, are sometimes equally intolerant and bigoted. Most times very much more so. Aren't we all called quad loin?"

"It shouldn't happen Stateside not Americans to Americans. That's my bitch."

"Do you think once you're inside China, you'll be allowed to go in and out freely?"