Harding of Allenwood

"I have no claim upon the secrets you keep from your sister."

Harding was silent, and Beatrice felt annoyed. After all, she understood why he had told her and she recognized that he had acted honestly in doing so. Still, if he really loved her, she felt, he should not let pride stand in the way of removing every obstacle to get her.

Hester came in and announced that the horses were ready; and soon afterward she and Beatrice were riding together across the prairie while Harding went doggedly back to his work.

CHAPTER XXI

THE DAY OF RECKONING

As the spring advanced, business men in Winnipeg and the new western towns began to feel an increasing financial pressure. Money was tight, and the price of wheat, upon which the prosperity of the country depended, steadily fell. It was the beginning of a sharp set-back, a characteristic feature of the sanguine West, during which all overdrafts on the natural resources of the prairie must be met. The resources are large, but their development is slow, depending, as it does, upon the patient labor of the men who drive the plow, while those who live upon the farmer are eager to get rich.

The tide of industrial progress is often irregular. There are pauses of varying length, and sometimes recoils, when reckless traders find their ventures stranded and in danger of being wrecked before the next impulse of the flood can float them on. They borrow and buy too freely; trafficking produce not yet grown; building stores and offices in excess of the country's needs. A time comes when this is apparent, speculation ceases, credit fails, and the new cities must wait until expanding agriculture overtakes them. In the meanwhile, the fulfilment of obligations is demanded and, as often happens, cannot be made.

Davies suffered among the rest. He had foreseen a set-back, but it proved more severe than he expected. He had bought land he could not sell, had cooperated in erecting buildings which stood empty, and had made loans to men unable to repay them.

One morning he sat in his office, gloomily reading a newspaper which made a bold attempt to deal optimistically with the depressing situation. Among other news there was a report of a meeting of the shareholders in a mining company; and this Davies studied with interest. It was what is termed an extraordinary meeting, called to consider the course to be adopted in consequence of the engineer's failing to reach the ore after sinking a costly shaft; and Davies, glancing at another column, noted that the shares had sharply fallen. Gerald Mowbray had speculated in this stock, and Davies was then expecting a call from him.

Instead of Mowbray, Carlyon came in. The boy looked anxious, but he was calm.

"I suppose you know what I've come about," he began.

"Yes; you're behind with your interest."

Carlyon's ease of manner was perhaps overdone, but he hid his feelings pluckily.

"Then, as I can't pay, what are you going to do? I must know now; when you're farming, you have to look ahead."

"I'm going to sell you up when the mortgage falls in. You have some time yet."

"Can't you renew the loan upon any terms?"

"No," said Davies truthfully. "I would if I could. I have to meet my engagements and money's scarce."

Carlyon got up, turning an unlighted cigar in nervous fingers, but there was a smile in his eyes that showed he could face ruin with dignity.

"Then, if that's your last word, I needn't waste your time; and it wouldn't be fair to blame you for my foolishness. I dare say I can find a job as teamster; it seems the only thing that's left."

"You have grit. I'm sorry I can't keep you on your feet," Davies answered with more feeling than Carlyon had expected.

"Thanks. Mowbray's waiting outside; I'll send him in."

Davies looked up when the door opened a few moments later. Gerald's careless manner had gone; he showed obvious signs of strain. Indeed, there was something in his face that hinted at desperation. Davies was not surprised at this. After a curt greeting he took up the newspaper.

"I expect you have seen the report of the company's meeting."

"I have," said Gerald. "It doesn't leave much to the imagination. At last, the directors have treated us with brutal frankness. I've filled up my proxy in favor of appointing a committee to investigate."

"It can't do much good. The fellows can investigate until they're tired, but they can't find ore that does not exist."

"It would be some comfort if they found out anything that would put the rogues who deluded us into jail," Gerald answered savagely.

Davies smiled in a meaning way.

"Rather too drastic a proceeding." He gave the other a direct glance. "People who play a crooked game shouldn't appeal to the law."

The blood crept into Gerald's face and he wondered with dire misgivings what the man meant and how much he knew. He had counted on a report from the mining engineer that would send up the value of his shares, and had rested on this his last hope of escaping from a serious danger. Instead, he had learned that the mine was barren. It was a crushing blow, for he must find a large sum of money at once. The consequences would be disastrous if he failed.

"Well," he said, "the most important point is that my shares are worth next to nothing, and I've very little expectation of their ever going up. I don't suppose you'd take them as security for a loan at a quarter of their face value?"

"I would not," Davies answered firmly.

"Very well. My note falls due in a few days. What are you going to do?"

"Present it for payment."

Gerald looked at him keenly, to see if he meant it; but he could read in the broker's imperturbable face nothing to lead him to doubt this. He tried to pull himself together, and failed. Gerald had not inherited the stern, moral courage of the Mowbray stock.

"You can't afford to let me drop," he pleaded in a hoarse voice. "As soon as you take away your support the brutes I've borrowed from will come down on me like wolves, and, to protect your interests, you'll have to enforce your mortgage rights. I needn't point out that this will spoil your plans. You're not ready to make your grab at Allenwood yet."

Davies heard him unmoved. He was comparing his attitude with that of the ruined lad he had just dismissed. Carlyon was, of course, a fool who deserved his fate, but his pluck had roused the moneylender's sympathy. He did not mean to let it make him merciful, but he had some human feeling, and it inspired him with contempt for Mowbray. The fellow was clever enough to see that Davies' plans were directed against his relatives and friends, but this had not prevented his falling in with them for the sake of a temporary advantage. His pride was a sham; he forgot it when it threatened to cost him something. Moreover he had not been straight with Davies in several ways. He had a rogue's heart, but was without the rogue's usual nerve.

"I often have to change my plans," Davies said calmly. "Just now I'm short of money, and must get some in. Anyway, there's no secret about the mortgage; it had to be registered."

"Of course; but I don't suppose anybody knows about it, for all that. People don't spend their time turning up these records."

"It would be a wise precaution, when they dealt with you," Davies answered pointedly.

Gerald did not resent the taunt.

"But you can't get your money for the note," he urged. "It's impossible for me to meet it now."

"Or later, I guess. Well, I'll have to fall back on the endorser; he's a solid man."

A look of terror sprang into Gerald's face.

"You can't do that!"

"Why not?"

"Well," Gerald faltered, "he never expected he'd have to pay the note."

"That's his affair. He ought to have known you better."

Gerald roused himself for a last effort.

"Renew it on any terms you like; I'll agree to whatever you demand. I have some influence at Allenwood, and can get you other customers. You'll find it worth while to have my help."

Davies smiled scornfully.