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 be no way by which we can prove the swindle.”

“But a swindle is a swindle. It’s a self-evident fact. If he’s swindling us why can’t we prove it?”

“I’ve sent men up there repeatedly, the best men in the state. My best cruiser is out on that work now,” explained Hatton. “But while I may believe we are being swindled, if we can’t prove it, what are we to do?”

“I should say that the Great Northern needed a new president, and a new manager in this region,” sternly replied Thaxter. “Why, sir! you calmly tell me we are being swindled. I look at my memorandum book, the figures supplied by you, and I find the timber is estimated at one hundred thousand dollars at least.”

“I believe those figures are a bit below the mark,” said Hatton, who always sought to be scrupulously exact in conferring with his superior.

“Huh!” ejaculated Thaxter. “And we lose that, eh?”

“Mr. Thaxter, unless we come to terms with Nace I fear we shall,” earnestly assured Hatton.

“What! treat with him? Never,” said the president firmly.