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In it he read: "My Dear Boy: "A man must not only examine a business proposition from all sides, but must also turn it over and look well at the bottom. I never knew what was the matter with that swamp scheme, except Applerod, but I didn't want to know any more. You did. "Well, you don't need wisdom. I've put one-half your fortune where it will yield you a living income.

The price of vehicles was high, however, for Silas Trimmer had already engaged quite a number of them to run between the Applerod Addition and his own. During the week preceding June first, there had appeared, in the local papers, advertisements of about one-fourth the size that Bobby was using, calling attention to the opening of the Trimmer Addition, which was to be upon the same date.

"Trimmer again," said Biff Bates, and slid off the desk; then he looked at his watch with a curious speculative smile. "But if it is all lost," protested Johnson, looking again at the note and pausing in the making out of the check, "how do you come to get this?" "He owed it to me," asserted Applerod.

"I should scarcely think he would care to come here after the unfortunate outcome of the work I did for him," said Mr. Platt. "You mean on old Applerod's Subtraction?" "You couldn't hardly call it the Applerod Addition, could you?" responded Jimmy with a smile. "That was a most unlucky transaction for me as well as for Mr. Burnit." Biff looked about the room comprehendingly.

He paid his two hundred and fifty thousand dollars into the coffers of the company, and, at the first stock-holders' meeting, voting this stock and the ten shares he had bought from Sharpe at a hundred and seventy-two, he elected his own board of directors, consisting of Chalmers, Johnson, Applerod, Biff Bates and himself, giving one share of stock to each of the other four gentlemen so that they would be eligible.

"Applerod, you weigh a hundred and eighty pounds and I weigh a hundred and thirty-seven, but I can lick you the best day you ever lived; and by thunder and blazes! if you let fall another remark like that I'll knock your infernal head off!" Mr.

Bobby kept up his part of the conversation but feebly as they whirled out to the site of the old Applerod Addition. He was lost in speculation upon what could possibly have happened to that unfortunate swamp area. When they arrived, however, he was surprised to find that Shepherd had been correct.

There was no employment for a referee, however, for Mr. Applerod, with astonishing agility, sprang to the door and held it half open, ready for a hurried exit in case of any other demonstration. It was shocking to think that he might be drawn into an undignified altercation and with a mere clerk! Also, it might be dangerous.

Johnson, breathing scorn that alternately dented and inflated his nostrils, slowly donned his coat and hat without removing his eyes from Applerod, who, as the two approached the door, edged uncertainly away from it. "I've got to go out, anyhow," said Johnson, addressing his remarks exclusively to Mr. Bates, but his glare exclusively to Mr. Applerod.

Burnit," began Applerod, "but I have five thousand dollars I'd like to invest in the New Brightlight Company if you could manage it for me." "I'm sorry, Applerod," said Bobby, "but there isn't a share for sale. It was subscribed to the full capitalization before the incorporation papers were issued."