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The fact that he and Howitson had decided on some joint action after a long private discussion implied that there was trouble in store for the absent man, unless he could be summoned to deal with the crisis in person. Jessy wondered whether Nairn knew anything about the matter yet, and decided that she would call and try to sound him.

He said something last night that suggested it I can't remember exactly what it was. Of course, I don't understand much about these matters, but Howitson was here talking business until late." Jessy was satisfied. Her hostess's previous incautious admission had gone a long way, but to this was added the significant information that Bendle was inclined to be sorry for Vane.

"A month or two ago, I would have agreed with ye; but general investors are kittle folk, and the applications for the new stock are no numerous." "Howitson promised to subscribe largely; and Bendle pledged himself to take a considerable block." "I'm no denying it. But we have no been favored with their formal applications yet."

Just now I see clouds on the horizon." "Bendle pledged himself to take up a big block of the shares," repeated Vane. "If Howitson does the same, as he said he would, our position would be secure. As soon as it was known that they were largely interested, others would follow them." "Now ye have it in a nutshell it would put a wet blanket on the project if they both backed down.

She did not see Vane the next day, but the latter called upon Nairn at his office during the afternoon. "Have you had any more applications for the new stock?" he asked. "I have no. Neither Bendle nor Howitson has paid up yet, though I've seen them about it once or twice." "Investors are shy; that's a fact," Vane confessed. "It's unfortunate. I've already put off my trip north as long as possible.

"Ah!" exclaimed Jessy with a calmness that was difficult to assume; "you may as well understand that there is nothing between Vane and me. I suppose you mean that Howitson and Bendle are turning against him?" "Something like that." Horsfield's tone implied that her answer had afforded him relief. "The man has trouble in front of him." Jessy changed the subject. What she had gathered from Mrs.