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Wagstaff because it hung in his memory how, many years before, this same Gunterson had by rather questionable methods worsted him in a transaction affecting a schedule of cotton compresses in Georgia; Smith because he believed Mr. Gunterson to be a fraud of such monumental proportions that he deserved a place among the storied charlatans of the world.

It was about the third week in February that a Conference war was declared in Philadelphia, Buffalo, and Baltimore. In the ears of Mr. Gunterson the triple detonation rang terribly, like the very voice of doom, and it was with the desperation of hopelessness that he addressed himself to the solution of this new problem.

"I had almost forgotten O'Connor, though, since Gunterson drove him out of my head." "Who or what is Gunterson, please?" Smith told her. "If O'Connor can get the Eastern Conference to put through a separation rule now, we're absolutely helpless," he concluded. "Gunterson wouldn't have the vaguest idea of what to do and wouldn't let any one else tell him.

"I bet my cousin Billy Gallagher knows him. Come to think of it, Billy was special agent up here for the Florida Fire and Marine at the time Gunterson was running them. We can square Billy all right, and I believe Billy can put it over." "It looks like a cinch to me," said Bloom, lighting a cigarette. "It is," said McCoy, briefly. It was.

"What about a branch manager in place of O'Brien?" inquired Mr. Wintermuth at length, thinking at least to change the subject, and hoping to touch a brighter theme. Mr. Cuyler's face darkened still further, if such a thing were possible. "Nothing doing," he said inelegantly but comprehensively. "Hasn't Mr. Gunterson ?" the President began, but he stopped short. "What's that?" he asked sharply.

Meanwhile a branch manager must be secured. The company's local income was dropping behind in a way that had not happened within the memory of man. In this state of affairs it was not long before Cuyler again sought Mr. Wintermuth, and this time the advice of Mr. Gunterson was solicited. It had been nearly a week since Mr.

In the brief interval before the new Vice-President put in his dignified appearance, neither of the occupants of the office spoke. "Ah, Mr. Gunterson. Good morning once more. You know Mr. Smith, our General Agent, I believe?" Mr. Gunterson bowed with urbanity. Courtesies exchanged a matter of some little time the President again spoke.

"There's thirty thousand apiece, easy say sixty thousand the first year. Yes, we could let them two go, and if you were in any kind of way liberal if you wrote a fair line in the congested district we could guarantee you sixty thousand, and I believe we'd make it seventy-five." Mr. Gunterson calculated this with deliberation.

It had been agreed by the trio that McCoy should do the talking for the firm, and McCoy came from an island where the art of persuasive conversation is far from extinct. "Well, Mr. Gunterson, I want to say right off the reel that Sternberg, Bloom, and McCoy would like very much to take on the Guardian.

But the situation could not be saved by any degree of repartee. Boston had voted for separation; Silas Osgood and Company must resign the Guardian; and Samuel Gunterson had made a humiliating failure of his quest. Into his throbbing brain, however, a new idea had come, suggested by O'Connor's taunt. A new agent! Why not?