"How?"

Again the girl's expressive shrug.

"To quit the s.h.a.gaunty and break new ground means the break up of those amenities and comforts they've acc.u.mulated in years. It means work, real hard work, and discomfort for at least two seasons. You see, we need to get into the skin of these folk. They can keep the booms full from these forests, and the kick only comes when the grinders get to work. Output falls automatically with the girth of the lumber sent down. It's a close calculation; but on the year it means a lot. I learned that from Mr.

Osbert, at the mills on the s.h.a.gaunty. Well, so long as the booms are kept full, the camp bosses are satisfied. There's a limit below which the girth of logs may not go. They watch that limit, and are careful not to go below it. Well, our big output has been made up always, not by the minimum logs, but the maximum to which we have been hitherto accustomed. These boys know all about that; but they're satisfied with such bulk as doesn't fall below the minimum. And when asked, suggest fire, storm and sickness, anything rather than the real cause which drops our output. They'll not willingly face the discomfort and added work of opening a new territory. There's just one decision needed."

"What's that?"

The girl laughed. It was a low, pleasant, happy laugh. She felt glad.

Her chief was serious. He was in deadly earnest, and it represented her revenge for his sarcasm.

"We've five other rivers running down to the lake. The s.h.a.gaunty isn't even the largest. Well, these boys will have to be shaken out of their dream. We ought to quit the s.h.a.gaunty right away and make a break for fresh 'limits.' It's simple."

The man had no responsive smile. He shook his head.

"That's what it isn't, my dear," he said.

For the time the girl's beauty, her personality were quite forgotten.

Peterman was absorbed.

"It means the complete dislocation of our forest organisation," he went on. "Here, I'll tell you something. We've done a very great thing in the past. And it's been easy. Years ago we decided by concentration of all our forest work on a limited area we could cut costs to the lowest. That way we could jump in on the market cheaper than all the rest. Our forest limits were the finest in Canada. We had standing stuff practically inexhaustible, and of a size almost unheard of. What was the result?

Why, one by one we've absorbed compet.i.tors at our own price till the Skandinavia stands head and shoulders above the world's groundwood industry. That's all right. That's fine," he went on, after a pause.

"But like most easy trails, you're liable to keep on 'em longer than is good for you. We haven't had to worry a thing up to now. You see, we'd stifled compet.i.tion, and we'd paid a steady thirty per cent dividend.

Which left our Board in an unholy state of dope. I've tried to wake 'em.

Oh, yes. I tried when that guy started up his outfit on Labrador. The Sachigo outfit. Then he seemed to fade away, and I couldn't rouse 'em again." He shook his head--"Nothing doing. Well, for something like fifteen years those guys of Sachigo have been doing and working; and now, to-day, they've jumped into the market with both feet. I haven't the full measure of things yet. But the play's a big thing. They're out for the game we've been playing. Say, they're combining every old mill we've left over. All the derelicts and moth-bounds. Their hands are out grabbing all over the country. Well, that wouldn't scare me worth a cent, only they've never let up in fifteen years, and there's talk about big British finance getting behind 'em."

The man broke off. His serious eyes remained steadily regarding the girl's interested face.

"You reckon this change is easy," he went on again. "I guess it would be easy if these folk hadn't jumped into the market. That makes all the difference. While we're changing they're busy. Their stuff's coming down in thousands of tons. And it's _better_ groundwood than ours. If we change over we're going to leave the market short and these folk will get big contracts. You're right. We've been working the s.h.a.gaunty too long. But it's been by three or four seasons. Not one. The time's coming, if it hasn't already come, when we've got to fight these folks and smash 'em; or get right out of business."

Something of the girl's joy had pa.s.sed in face of the man's statement.

"There's been talk of these Sachigo folk in the trade," she said thoughtfully, "but I didn't know it was as big as you say. Of course--"

"Sure you didn't. You haven't had to handle our stuff on the market."

The man laughed. And something of his seriousness pa.s.sed. "But you're a bright kid. And the Skandinavia's looking for bright kids all the time.

It needs 'em to counter a doped Board. It's taken you five minutes to locate a trouble the Board's taken years to realise. And you've been talking one of the bunch of decisions we've taken. I mean quitting the s.h.a.gaunty. We didn't have your argument, but we had the 'drop.' So the decision was taken. We've got to move like h.e.l.l. Sachigo has our measure, and it's going to be a big fight. How'd you fancy a trip up country? I mean up the s.h.a.gaunty?"

There was a change in the man's voice and manner as he put his demand.

He was leaning forward in his chair. A hot light had suddenly leapt into his eyes, which left them shining unwholesomely. Nancy was startled at his words. And his att.i.tude shocked her not a little out of her self-satisfaction.

"I don't know--. How do you mean?" she demanded awkwardly.

The man realised her astonishment and laughed. Then he reached out, and his hand patted the rounded shoulder nearest him. It was a touch that lingered unnecessarily, and the girl stirred restlessly under it.

"Why, it's the chance of a life--for you," he said boisterously. "You'll go right up through the camps. You'll take your notions with you and investigate. I'll hand you a written commission, and the folk'll lay their 'hands' down for you to see. When you've seen it all you'll get right back here, and I'll set you before the Board to tell your story. I don't need to tell a bright girl like you what that means to you. You'll get one dandy summer trip, and I'll lose one dandy secretary. But I'm not kicking. No. You see, Nancy, I'm out to help you all you need.

Well?"

It was crude, clumsy. It was all so blatantly vulgar. It was not the thing he said. It was the manner of it and all that which was lying unspoken behind.

For the first time Nancy experienced a curious uncertainty in dealing with him. But here was real opportunity. She had dreamed of such. And she must take it. The touch of the man's hand upon her shoulder had disturbed her. But she smiled her grat.i.tude at him.

"It's too good," she exclaimed, with apparent impulse. "It's just too good of you. Will I go? Why, yes. Surely. And I'll make good for you. I believe it's the best thing. Someone to go who'll bring back a dead right story. I'd be real glad."

"That's bully!" The man beamed as he leant back in his chair more than satisfied with himself. "But I don't fancy losing my dandy secretary,"

he went on. "No, sir. I'm going to hate this summer bad. I surely am.

Still, there's next winter. Winter's not too bad with us. And a feller needs consolation in winter. There's theatres, and ice parties, and dances, and things. And I guess when the Board's fixed a big jump up for you, you'll feel like getting around some. Well, I'm mostly vacant. A feller can't live all the time at home with his wife and kids. I guess I could show you Quebec at night better than most--"

The telephone saved Nancy the rest of the man's rendering of his account and she breathed deeply her relief. But the interruption was by no means welcome to the man. And his irritation was promptly displayed by the vindictive "Well?" he flung at the unyielding receiver.

"Oh! What's that? Who? h.e.l.lbeam? Oh. Sure. Yes. Send him right up. Don't keep him waiting. Right up now. Yes."

He thrust up the instrument and sat back in his chair.

"Curse the man!"

Nancy had risen from her chair at the mention of h.e.l.lbeam's name. She was glad enough of the excuse. She understood h.e.l.lbeam was the great outstanding figure in the concern of the Skandinavia. His was the one personality that dwarfed everybody. He was the moving power of the whole concern.

"You'll let me know later?" she said. "I mean, just when I'm to start out. I'm ready when you like. I'll just go and see why those reports have not been sent up."

"Oh, don't worry with the reports. You've told me the things that matter."

The man's irritation was as swift as it was violent. But it pa.s.sed as quickly as it came. He laughed.

"That's all right, my dear. Be off now. I'll let you know about things this afternoon."

Nancy gladly accepted her dismissal. She wanted to think. She wanted to get things into their proper focus. As she closed the door behind her her beautiful eyes had no joy in them. She had realised two things as a result of her interview. The opportunity she had looked forward to had materialised, and she had seized it with both hands. But the goodness of Elas Peterman to herself possessed none of that disinterested kindliness she had hitherto believed. Furthermore, there was dawning upon her that which her mirror should have told her long ago. She was beginning to understand that her work, her capacity, her application, counted far less in the favour of her chief than did those things with which nature had equipped her. She was shocked out of her youthful dream. And it left her so troubled, that, had she not been pa.s.sing down the carpeted corridor of the Skandinavia offices, she would have burst into a flood of tears.

It was a different Elas Peterman who confronted the squat figure of Nathaniel h.e.l.lbeam. The master in the younger man was completely submerged. He possessed all the Teutonic capacity for self-abnegation in the presence of the power it is necessary to woo. There was only one master when the great financier was present. Elas Peterman knew that his part was to listen and obey with just that humility which he would have demanded had the position been reversed.

Another type than h.e.l.lbeam's would have despised the att.i.tude. But the financier had no scruple. Nature had denied him qualities for inspiring affectionate regard, or even respect. But she had bestowed on him a l.u.s.t for power, and a great vanity, and these he satisfied to the uttermost.

The financier drove straight to the object of his visit.

"I come for an important purpose," he said, in his guttural fashion.

"There must be a special Board a.s.semble. Skandinavia will buy the mill on Labrador. The Sachigo mill. I come on the night train, which is the worst thing I can think to do, to say this thing. If we do not buy this mill, then--" He broke off with an expressive gesture.

Elas nodded. He was startled, but his powers of dissimulation were profound.

"I understand," he said. "They have been approached?"

h.e.l.lbeam stirred his bulk in the chair Nancy had so recently occupied.

It was a movement of irritation.

"That is for you. You represent Skandinavia. I--I say this thing. I the money find."

The face of Peterman was a study. His eyes were serious, his manner calmly considering. Amazement was struggling with a desire to laugh outright in the face of this grossly insolent money power.