When Ralph had finished his first contract he took a second, and did better by it. He learned by experience, as all wise men do, and gathered confidence in himself as the result.

With the advent of spring rumours got into circulation that a large and wealthy company had been formed for the purpose of developing Perranpool.

A few years previously it had been only a fishing village, distinguished mainly for the quality of its pilchards. But some London journalist, who during a holiday time spent a few days there, took it into his head to turn an honest penny by writing a friendly article about it. It is to be presumed he meant all he said, for he said a great deal that many people wondered at. But, in any case, the article was well written and was widely quoted from.

The result was that the following year nearly every fisherman's wife had to turn lodging-house keeper, and not being spoiled by contact with the ordinary tripper, these worthy men and women made their visitors comfortable with but small profit to themselves.

The next year a still larger number of people came, for they had heard that Perranpool was not only secluded and salubrious, but also remarkably cheap.

That was the beginning of Perranpool's fame. Every year more and more people came to enjoy its sunshine and build sand-castles on its beach.

Houses sprang up like mushrooms, most of them badly built, and all of them entirely hideous. A coach service was established between it and the nearest railway station, a company was formed for the purpose of supplying gas at a maximum charge for a minimum candle-power, while another company brought water from a distance, so rich in microbes that the marvel was that anyone drank it and lived.

Since then things have further improved. A branch railway has been constructed, and two or three large hotels have been built, a Local Board has been formed, and the rates have been quadrupled. A "Town Band"

plays during the season an accompaniment to the song the wild waves sing, and the picturesque sea-front has given place to an asphalted promenade. At the time of which we write, however, the promenade existed only in imagination, and some of the older houses were threatened by the persistently encroaching sea.

So a company was formed for the purpose of building a breakwater and a pier, and for the purpose of developing a large tract of land it had acquired along the sea-front, and tenders were invited for the carrying out of certain specified work.

None of the tenders, however, were accepted. There was no stone in the neighbourhood fit for the purpose, and to bring granite from the distant quarries meant an expense that was not to be thought of. The directors of the company began to feel sick. The debenture holders were eating up the capital, and the ordinary shareholders were clamouring for a dividend, while the sea threatened to eat up the land.

Meanwhile Ralph Penlogan had been looking at a huge heap of gravel and mica and blue clay which had been acc.u.mulating during three generations on the side of a hill some two or three miles inland. Every day and all the year round men pushed out small trucks and tipped their contents over the brow of this huge barrow. Every year the great heap extended its base, engulfing hedges and meadows and even plantations. There was no value in this waste whatever. In fact, it involved the company in a loss, for they had to pay for the land it continued to engulf. Anyone who liked to cart away a few loads for the purpose of gravelling his garden-path was at liberty to do so. The company would have been grateful if the whole ma.s.s of it could have been carted into the sea.

Ralph got a wheelbarrowful of the stuff and experimented with it. Then he wrote to the chairman of the company and asked permission to use some of the waste heap for building purposes--a permission which was at once granted. In fact, the chairman intimated that the more he could use the more he--the chairman--and his co-directors would be pleased.

Ralph's next step was to interview a local contractor who was very anxious to build the new sea-wall and pier. The result of that interview was that the contractor sent in a fresh tender, not to build the wall of granite, but with a newly discovered concrete, which could be manufactured at a very small cost, and which would serve the purposes of the company even better than granite itself.

Ralph registered his invention or discovery, got his concession from the Brick, Tile, and Clay Company into the best legal form possible, and then commenced operations.

Telfer, the contractor, who was delighted with the quality of the concrete, financed Ralph at the start, and helped him in every way in his power.

The Perranpool Pier and Land Company, after testing the new material in every way known to them, accepted Telfer's tender, and the great work was commenced forthwith.

In a couple of months Ralph had as many men at work as he had room for.

Telfer had laid a light tram-line down the valley, and as fast as the blocks were manufactured they were run down to Perranpool.

Ralph was in high spirits. Having the material for nothing, and water in abundance, he was able to manufacture his concrete even cheaper than he had calculated. In fact, his profits were so good that he increased the wages of his hands all round, and got more work out of them in consequence.

Robert Telfer, however, who was much more of a man of the world than Ralph, was by no means satisfied with the condition of affairs. He foresaw contingencies that never occurred to the younger man.

"Look here," he said to Ralph one day, "you ought to turn out much more stuff than you are doing."

"Impossible," Ralph answered. "I have so many men at work that they are getting in each other's way as it is."

"But why not double your shifts? Let one lot get in at six and break off at two, and the second come in at two and leave off at ten."

"I never thought of that," Ralph answered.

"Well, you take my advice. There's an old proverb, you know, about making hay while the sun shines."

"But the sun will shine as long as you take my concrete."

"Don't be too sure of that."

"How?" Ralph said, glancing up with questioning eyes.

"The raw material may give out."

Ralph laughed.

"Why, there's stuff enough to last a hundred years," he said.

"That may be; but don't be too sure that you will be allowed to use it."

"Do you mean to suggest that the company will attempt to go behind their agreement?"

"More unlikely things have happened."

"Then you have heard something?"

"Nothing very definite. But some of the shareholders are angry at seeing you make money."

"But the stuff has been lying waste for generations, and acc.u.mulating year by year. They rather gain than lose by letting me use it up."

"But some of them are asking why they cannot use it themselves."

"Well, let them if they know how."

"You have patented your discovery?"

"I have tried, but our patent laws are an outrage."

"Exactly. And, after all, there's not much mystery in concrete."

"Well?" he said, in a tone of inquiry.

"Well, before you are aware you may have compet.i.tion, or, as I said just now, the raw material may run out."

"I cannot conceive that honourable men will try to go behind their promise."

"As individuals, no; but you are dealing with a company."

"Well, what is the difference?"

Mr. Telfer laughed.

"There ought to be no difference, I grant. Nevertheless, you will find out as you grow older that companies and corporations and committees will do what as single individuals they would never dream of doing. When men are a.s.sociated with a hundred others, the sense of individual responsibility disappears. Companies or corporations have neither souls nor consciences. You, as an individual, would not settle a dispute with a revolver, or at the point of a sword. Possibly you think duelling a crime, yet as a member of a community or nation you would possibly applaud an appeal to arms in any quarrel affecting our material interests."

"Possibly I should," Ralph answered, looking thoughtful.