"On what?"

"I don't know yet." Gornt looked down at him. "I just need to know that I can count on you."

"Yes. Yes of. course." Barre was wondering nervously what Gornt had in mind and where the leak was. "Always happy to oblige, old chap."

"Thank you. You're selling Ho-Pak short?"

"Of course. I got all my money out yesterday, thank God. Why?"

"I heard Dunross'sPar-Con deal won't go through. I'm considering selling him short too."

"Oh? The deal's not on? Why?"

Gornt smiled sardonically. "Because, Dunstan"

"Hello, Quillan, Dunstan, sorry to interrupt," Donald McBride said, bustling up to them, two men in tow. ''May I introduce Mr. Charles Biltzmann, vice-president of American Superfoods. He'll be heading up the new General Stores-Superfoods merger and based in the Colony from now on. Mr. Gornt and Sir Dunstan Barre."

The tall, sandy-haired American wore a gray suit and tie and rimless glasses. He stuck out his hand.affably. "Glad to meet you. This's a nice little track you've got here."

Gornt shook hands without enthusiasm. Next to Biltzmann was Richard Hamilton Pugmire, the present tai-pan of H.K. General Stores, a steward of the Turf Club, a short arrogant man in his late forties who carried his smallness as a constant challenge. "Hello, you two! Well, who's the winner of the fifth?"

Gornt towered over him. "I'll tell you after the race."

"Oh come on, Quillan, you know it'll be fixed before the horses even parade."

"If you can prove that I'm sure we'd all like to know. I certainly would, wouldn't you, Donald?"

"I'm sure Richard was just joking," Donald McBride replied. He was in his sixties, his Eurasian features pleasing, and the warmth of his smile pervaded him. He added to Biltzmann, "There're always these rumors about race fixing but we do what we can and when we catch anyone off with his head! At least off the course he goes."

"Hell, races get fixed in the States too but I guess here where it's all amateur and wide open, it's got to be easier," Biltzmann said breezily. "That stallion you have, Quillan. He's Australian, partial pedigree, isn't he?"

"Yes," Gornt said abruptly, detesting his familiarity.

"Don here was explaining some of the rules of your racing. I'd sure like to be part of your racing fraternity hope I can get to be a voting member too."

The Turf Club was very exclusive and very tightly controlled. There were two hundred voting members and four thousand nonvoting members. Only voting members could get into the members'

box. Only voting members could own horses. Only voting members could propose two persons a year to be nonvoting members the stewards' decision, approval or nonapproval being final, their voting secret. And only voting members could become a steward.

"Yes," Biltzmann repeated, "that'd be just great."

"I'm sure that could be arranged," McBride said with a smile. "The club's always looking for new blood and new horses."

"Do you plan to stay in Hong Kong, Mr. Biltzmann7" Gornt asked.

"Call me Chuck. I'm here for the duration," the American replied. "I suppose I'm Superfoods of Asia's new tai-pan. Sounds great, doesn't it?"

"Marvelous!" Barre said, witheringly.

Biltzmann continued happily, not yet tuned to English sarcasm, "I'm the fall guy for our board in New York. As the man from Missouri said, the buck stops here." He smiled but no one smiled with him. "I'll be here at least a couple of years and I'm looking forward to every minute. We're getting ready to settle in right now. My bride arrives tomorrow an"

"You're just married, Mr. Biltzmann?"

"Oh no, that's just a, an American expression. We've been married twenty years. Soon as our new place's fixed the way she wants it, we'd be happy for you to come to dinner. Maybe a barbecue? We got the steaks organized, all prime, T-bones and New Yorks, being flown over once a month. And Idaho potatoes," he added proudly.

"I'm glad about the potatoes," Gornt said and the others settled back, waiting, knowing that he despised American cooking particularly charcoaled steaks and hamburgers and "gooped-up baked potatoes," as he called them. "When does the merger finalize?"

"End of the month. Our bid's accepted. Everything's agreed. I certainly hope our American know-how'll fit into this great Irttle island."

"I presume you'll build a mansion?"

"No sir. Dickie here," Biltzmann continued, and everyone winced, "Dickie's got us the penthouse of the company's apartment building on Blore Street, so we're in fat city."

"That's convenient," Gornt said. The others bit back their laughter. The oldest and most famous of the Colony's Houses of Easy Virtue had always been on Blore Street at Number One. Number One, Blore Street, had been started by one of Mrs. Fotheringill's "young ladies," Nellie Blore, in the 1860's, with money reportedly given her by Culum Struan, and was still operating under its original rules European or Australian ladies only and no foreign gentlemen or natives allowed.

"Very convenient," Gornt said again. "But I wonder if you'd qualify."

"Sir?"

"Nothing. I'm sure Blore Street is most apt."

"Great view, but the plumbing's no good," Biltzmann said. "My bride'll soon fix that."

"She's a plumber too?" Gornt asked.

The American laughed. "Hell no, but she's mighty handy around the house."

"If you'll excuse me I have to see my trainer." Gornt nodded to the others and turned away with, "Donald, have you a moment? It's about Saturday."

"Of course, see you in a moment, Mr. Biltzmann."

"Sure. But call me Chuck. Have a nice day."

McBride fell into step beside Gornt. When they were alone Gornt said, "You're surely not seriously suggesting he should be a voting member?"

"Well, yes." McBride looked uncomfortable. "It's the first time a big American company's made a bid to come into Hong Kong. He'd be quite important to us."

"That's no reason to let him in here, is it? Make him a nonvoting member. Then he can get into the stands. And if you want to invite him to your box, that's your affair. But a voting member? Good God, he'll probably have 'Superfoods' as his racing colors!"

"He's just new and out of his depth, Quillan. I'm sure he'll learn. He's decent enough even though he does make a few gaffes. He's quite well off an"

"Since when has money been an open sesame to the Turf Club? Good God, Donald, if that was the case, every upstart Chinese property gambler or stock market gambler who'd made a killing on our market'd swamp us. We wouldn't have room to fart."

"I don't agree. Perhaps the answer's to increase the voting membership."

"No. Absolutely not. Of course you stewards will do what you like. But I suggest you reconsider." Gornt was a voting member but not a steward. The two hundred voting members elected the twelve stewards annually by secret ballot. Each year Gornt's name was put on the open list of nominees for steward and each year he failed to get enough votes. Most stewards were reelected by the membership automatically until they retired, though Tom timeto time there was lobbying.

"Very well," McBride said, "when his name's proposed I'll men- tion your opposition."

Gornt smiled thinly. "That'll be tantamount to getting him elected."

McBride chuckled. "I don't think so, Quillan, not this time. Pug asked me to introduce him around. I must admit -he gets off on the wrong foot every time. I introduced him to Paul Havergill and Biltzmann immediately started comparing banking procedures here with those in the States, and not very pleasantly either. And with the tai-pana" McBride's graying eyebrows soared. "a he said he was sure glad to meet him as he wanted to learn about Hag Struan and Dirk Struan and all the other pirates and opium smugglers in his past!" He sighed. "Ian and Paul'll certainly blackball him for you, so I don't think you've much to worry about. I really don't understand why Pug sold out to them anyway."

"Because he's not his father. Since old Sir Thomas died General Stores've been slipping. Still, Pug makes 6 million U.S. personally and has a five-year unbreakable contract so he has all the pleasure and none of the headaches and the family's taken care of. He wants to retire to England, Ascot and all that."

"Ah! That's a very good deal for old Pug!" McBride became more serious. "Quillan, the fifth race the interest's enormous. I'm worried there'll be interference. We're going to increase surveillance on all the horses. There're rumors th"

"About doping?"

"Yes."

"There're always rumors and someone will always try. I think the stewards do a very good job."

"The stewards agreed last night that we'd institute a new rule: in future we'll have an obligatory chemical analysis before and after each race, as they do at the major tracks in England or America."

"In time for Saturday? How're you going to arrange that?"

"Dr. Meng, the police pathologist, has agreed to be responsible until we have an expert arranged."

"Good idea," Gornt said.

McBride sighed. "Yes, but the Mighty Dragon's no match for the Local Serpent." He turned and left.

Gornt hesitated, then went to his trainer who stood beside Pilot Fish talking with the jockey, another Australian, Bluey White. Bluey White was ostensibly a manager of one of Gornt's shipping divisions the title given to him to preserve his amateur status.

"G'day, Mr. Gornt," they said. The jockey touched his forelock.

"Morning." Gornt looked at them a moment and then he said quietly, "Bluey, if you win, you've a 5,000 bonus. If you finish behind Noble Star, you're fired."

The tough little man whitened. "Yes, guy!" : "You'd better get changed now," Gornt said, dismissing him.

"I'll win," Bluey White said as he left.

The trainer said uneasily, "Pilot Fish's in very good fettle, Mr. Gornt. He'll be try"

"If Noble Star wins you're fired. If Noble Star finishes ahead of Pilot Fish you're fired."

"My oath, Mr. Gornt." The man wiped the sudden sweat off his mouth. "I don't fix who ge"

"I'm not suggesting you do anything. I'm just telling you what's going to happen to you." Gornt nodded pleasantly and strode off. He went to the club restaurant, which overlooked the course, and ordered his favorite breakfast, eggs Benedict with his own special hollandaise that they kept for his exclusive use, and Javanese coffee that he also supplied.

On his third cup of coffee the waiter came over. "Excuse me, sir, you're wanted on the telephone."

He went to the phone. "Gornt."

"Hello, Mr. Gornt, this's Paul Choya Mr. Wu's nephewa I hope I'm not disturbing you."

Gornt covered his surprise. "You're calling rather early, Mr. Choy."

"Yes sir, but I wanted to be in early the first day," the young man said in a rush, "so I was the only one here a couple of minutes ago when the phone rang. It was Mr. Bartlett, Line Bartlett, you know, the guy with the smuggled guns, the millionaire."

Gornt was startled. "Bartlett?"

"Yes sir. He said he wanted to get hold of you, implied it was kinda urgent, said he'd tried your home. I put two and two together and came up with you might be at the workout and I'd better get off my butt. I hope I'm not disturbing you?"

"No. What did he say?" Gornt asked.

"Just that he wanted to talk to you, and were you in town? I said I didn't know, but I'd check around and leave a message and give him a call back."

"Where was he calling from?"

"The Vic and Albert. Kowloon side 662233, extension 773 that's his office extension, not his suite."

Gornt was very impressed. "A closed mouth catches no flies, Mr. Choy."

"Jesus, Mr. Gornt, that's one thing you never need worry about," Paul Choy said fervently. "My old Uncle Wu wopped that into us all like there was no tomorrow."

"Good. Thanks, Mr. Choy. I'll see you shortly."

"Yes sir."

Gornt hung up, thought a moment, then dialed the hotel. "773 please."

"Line Bartlett."

"Good morning Mr. Bartlett, this's Mr. Gornt. What can I do for you?"

"Hey, thanks for returning my call. I've had disturbing news which sort of ties in with what we were discussing."

"Oh?"

"Yes. Does Toda Shipping mean anything to you?"

Gornt's interest soared. "Toda Shipping's a huge Japanese con- glomerate, shipyards, steel mills, heavy engineering. Struan's have a two-ship deal with them, bulk vessels I believe. Why?"

"It seems Toda have some notes due from Struan's, $6 million in three installments on the first, eleventh, and fifteenth of next month and another $6 million in 90 days. Then there's another 6.8 million due on the eighth to Orlin International Bank you know them?"

With a great effort Gornt kept his voice matter-of-fact. "I've, I've heard of them," he said, astounded that the American would have such details of the debts. "So?" he asked.

"So I heard Struan's have only 1.3 million in cash, with no cash reserves and not enough cash flow to make payment. They're not expecting a significant block of income until they get 17 million as their share of one of Kowloon Investments' property deals, not due until November, and they're 20 percent overextended at the Victoria Bank."

"That'sa that's very intimate knowledge," Gornt gasped, his heart thumping in his chest, his collar feeling tight. He knew about the 20 percent overdraft Plumm had told him all the directors of the bank would know. But not the details of their cash, or their cash flow.

"Why're you telling me this, Mr. Bartlett?"

"How liquid are you?"

"I've already told you, I'm twenty times stronger than Struan's," he said automatically, the lie coming easily, his mind churning the marvelous opportunities all this information unlocked. "Why?"