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THE ROSE DAWN

"That used to bother me a considerable," he confessed, "and then one day it came to me that everybody doesn't hold those views. If everybody was a shoemaker, we'd have nothing but shoes." He chuckled again. "No, Mr. Brown, I've had time to think it over from all angles in the last few years. The only thing that would make me break into Corona del Monte would be because I thought I ought to. And I can't see where I ought to."

Bates considered. He had come out with a tentative idea of offering to pay off all the mortgages. Then there would be no question of their renewal or non-renewal. Also there would be no question of Patrick Boyd's retaining the whip hand in these negotiations. Of course Bates had no intention of throwing Boyd over completely—he would be of great use as being on the spot; but there was no reason why the traction man should get the lion's share. But Bates had not gained his present position by being slow at the uptake. The Colonel had said enough to afford a basis for judgment. Bates gave up his tentative plan to deal on a basis of profit or alleged duty. There remained to try the effects of a scare. His manner became icy.

"You say, Colonel Peyton, that your feeling of duty would be the only thing that would make you break up this property. I think you are mistaken. There is one other thing."

"I do not understand you, sir. What is it?"

"Necessity."

"Again I must confess that I do not understand you," a trace of formality crept into the Colonel's manner.

"I introduced myself as Brown. I am William Bates of Eleven Wall Street."

But this shot missed entirely.

"I regret. I suppose the name should be familiar; but it is not," said the Colonel.

Bates stared. Undoubtedly, incredible as it seemed, the man was sincere.

"It does not matter," continued the magnate. "I merely wanted to show that my opinion in these matters is of weight. I am acting in a friendly capacity, Colonel Peyton, however it may seem to you at the moment. I am a financier, and it is my