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Hudner, manager of the Black Butte Lumber Company, arched his eyebrows as Matt Peasley entered his office half an hour after he had left it and presented for Hudner's signature a formal charter party, in duplicate, wherein the Blue Star Navigation Company chartered from J. B. Hudner, managing owner of record, the American Steamer Unicorn for sixty days from date, at the rate of three hundred and twenty-five dollars a day, said managing owner to pay all expenses of operating said Unicorn.

He was aware of the feud that existed between Cappy and Hudner, and the reasons therefor. The latter had stolen from Cappy a stenographer, who had grown to spinsterhood in his employ one of those rare stenographers who do half a man's thinking for him.

'Hudner, I said, 'It's been my experience that nobody gets anything good in this world without paying for it and you stole the finest stenographer I ever had. So I'm going to make you pay for her.

He knew he had Hudner where the hair was short; so he said: "I'll give you three twenty-five and accept a thousand dollars commission in case my clients take her for four years. That's my final offer, Mr. Hudner. Take it or leave it." "I'll take it," said poor Hudner. "It's better than letting the vessel fall to pieces in Rotten Row. How soon will you hear definitely from your principals?"

And he laid his old head on his desk and laughed his shrill, senile laugh, while tears of joy rolled down his rosy old cheeks. "Oh-h-h-h, my!" he cackled. To think of a young pup like you coming in and chasing an old dog like Hudner round the lot and taking his bone away from him!" He turned to the general manager: "Oh, Skinner! Skinner, my dear boy, this will be the death of me yet!

In consideration of the fact, therefore, that the Lion did not owe Cappy Ricks a cent, Hudner shrewdly judged that Cappy would be less eager than he for business, and that hence it would be safe to give a three-day option. He led Matt back to his office, where he dictated and signed the option. Matt gave him a dollar and the trap was set. From Hudner's office Matt returned to that of Cappy Ricks.

"We're equal partners, sir," he said, "and I pried that thousand out of Hudner on the side as a commission for chartering the Unicorn to you. Half of it is yours and I owe you the other half; so there you are." Cappy Ricks threw up his hands in token of complete surrender. "Scoundrel!" he cried. "Damned young scoundrel! You Yankee thief, haven't you any conscience?"

"You can sue your head off, young man, and see how much good it will do you. You surrendered to me your option that Hudner gave you on the Unicorn, and you failed to procure from me in writing an understanding of the agreement between us regarding this split. You haven't a leg to stand on!" Matt Peasley hung his head. "I didn't think I had to take business precautions with you, sir," he said.

The reason is he dassent; if he dassed, this shebang would be in the hands of the sheriff within a year. Now, listen, young feller! I know all about the Penelope. Before the war she had repaid Hudner, with interest, every cent she cost him, and since the war I suppose she's made half a million dollars.

Cappy always paid a little more than the top of the market for clever service; and whenever, a competitor stole one of his favorite employees, sooner or later that competitor paid for his sins, "through the nose." "While you were away," Cappy went on, "I met Hudner a luncheon.