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passion for stamped leather work and had made a quantity of purses, tennis belts, and hat bands, which he presented to young ladies of his acquaintance. It was his policy never to make an enemy. He was liked far better than he was respected. People spoke of him as “that goat Osterman,” or “that fool Osterman kid,” and invited him to dinner. He was of the sort who somehow cannot be ignored. If only because of his clamour he made himself important. If he had one abiding trait, it was his desire of astonishing people, and in some way, best known to himself, managed to cause the circulation of the most extraordinary stories wherein he, himself, was the chief actor. He was glib, voluble, dexterous, ubiquitous, a teller of funny stories, a cracker of jokes.

Naturally enough, he was heavily in debt, but carried the burden of it with perfect nonchalance. The year before S. Behrman had held mortgages for fully a third of his crop and had squeezed him viciously for interest. But for all that, Osterman and S. Behrman were continually seen arm-in-arm on the main street of Bonneville. Osterman was accustomed to slap S. Behrman on his fat back, declaring:

“You’re a good fellow, old jelly-belly, after all, hey?”

As Osterman entered from the porch, after hanging his cavalry poncho and dripping hat on the rack outside, Mrs. Derrick appeared in the door that opened from the dining-room into the glass-roofed hallway just beyond. Osterman saluted her with effusive cordiality and with ingratiating blandness.

“I am not going to stay,” she explained, smiling pleasantly at the group of men, her pretty, wide-open brown eyes, with their look of inquiry and innocence, glancing from face to face, “I only came to see if you wanted anything and to say how do you do.”

She began talking to old Broderson, making inquiries as to his wife, who had been sick the last week, and Osterman turned to the company, shaking hands all around, keeping up an incessant stream of conversation.

“Hello, boys and girls. Hello, Governor. Sort of a gathering of the clans tonight. Well, if here isn’t that man Annixter. Hello, Buck. What do you know? Kind of dusty out tonight.”

At once Annixter began to get red in the face, retiring towards a corner of the room, standing in an awkward position by the case of stuffed birds, shambling and confused, while Mrs. Derrick was present, standing rigidly on both feet, his elbows close to his sides. But he was angry with Osterman, muttering imprecations to himself, horribly vexed that the young fellow should call him “Buck” before Magnus’s wife. This goat Osterman! Hadn’t he any sense, that fool? Couldn’t he ever learn how to behave before a feemale? Calling him “Buck” like that while Mrs. Derrick was there. Why a stable-boy would know better; a hired man would have better manners. All through the dinner that followed Annixter was out of sorts, sulking in his place, refusing to eat by way of vindicating his self-respect, resolving to bring Osterman up with a sharp turn if he called him “Buck” again.

The Chinaman had made a certain kind of plum pudding for dessert, and Annixter, who remembered other dinners at the Derrick’s, had been saving himself for this, and had meditated upon it all through the meal. No doubt, it would restore all his good humour, and he believed his stomach was so far recovered as to be able to stand it.

But, unfortunately, the pudding was served with a sauce that he abhorred—a thick, gruel-like, colourless mixture, made from plain water and sugar. Before he could interfere, the Chinaman had poured a quantity of it upon his plate.

“Faugh!” exclaimed Annixter. “It makes me sick. Such—such SLOOP. Take it away. I’ll have mine straight, if you don’t mind.”

“That’s good for your stomach, Buck,” observed young Osterman; “makes it go down kind of sort of slick; don’t you see? Sloop, hey? That’s a good name.”

“Look here, don’t you call me Buck. You don’t seem to have any sense, and, besides, it ISN’T good for my stomach. I know better. What do YOU know about my stomach, anyhow? Just looking at sloop like that makes me sick.”

A little while after this the Chinaman cleared away the dessert and brought in coffee and cigars. The whiskey bottle and the syphon of soda-water reappeared. The men eased themselves in their places, pushing back from the table, lighting their cigars, talking of the beginning of the rains and the prospects of a rise in wheat. Broderson began an elaborate mental calculation, trying to settle in his mind the exact date of his visit to Ukiah, and Osterman did sleight-of-hand tricks with bread pills. But Princess Nathalie, the cat, was uneasy. Annixter was occupying her own particular chair in which she slept every night. She could not go to sleep, but spied upon him continually, watching his every movement with her lambent, yellow eyes, clear as amber.

Then, at length, Magnus, who was at the head of the table, moved in his place, assuming a certain magisterial attitude. “Well, gentlemen,” he observed, “I have lost my case against the railroad, the grain-rate case. Ulsteen decided against me, and now I hear rumours to the effect that rates for the hauling of grain are to be advanced.”

When Magnus had finished, there was a moment’s silence, each member of the group maintaining his attitude of attention and interest. It was Harran who first spoke.

“S. Behrman manipulated the whole affair. There’s a big deal of some kind in the air, and if there is, we all know who is back of it; S. Behrman, of course, but who’s back of him? It’s Shelgrim.”

Shelgrim! The name fell squarely in the midst of the conversation, abrupt, grave, sombre, big with suggestion, pregnant with huge associations. No one in the group who was not familiar with it; no one, for that matter, in the county, the State, the whole reach of the West, the entire Union, that did not entertain convictions as to the man who carried it; a giant figure in the end-of-the-century finance, a product of circumstance, an inevitable result of conditions, characteristic, typical, symbolic of ungovernable forces. In the New Movement, the New Finance, the reorganisation of capital, the amalgamation of powers, the consolidation of enormous enterprises—no one individual was more constantly in the eye of the world; no one was more hated, more dreaded, no one more compelling of unwilling tribute to his commanding genius, to the colossal intellect operating the width of an entire continent than the president and owner of the Pacific and Southwestern.

“I don’t think, however, he has moved yet,” said Magnus.

“The thing for us, then,” exclaimed Osterman, “is to stand from under before he does.”

“Moved yet!” snorted Annixter. “He’s probably moved so long ago that we’ve never noticed it.”

“In any case,” hazarded Magnus, “it is scarcely probable that the deal—whatever it is to be—has been consummated. If we act quickly, there may be a chance.”

“Act quickly! How?” demanded Annixter. “Good Lord! what can you do? We’re cinched already. It all amounts to just this: YOU CAN’T BUCK AGAINST THE RAILROAD. We’ve tried it and tried it, and we are stuck every time. You, yourself, Derrick, have just lost your grain-rate case. S. Behrman did you up. Shelgrim owns the courts. He’s got men like Ulsteen in his pocket. He’s got the Railroad Commission in his pocket. He’s got the Governor of the State in his pocket. He keeps a million-dollar lobby at Sacramento every minute of the time the legislature is in session; he’s got his own men on the floor of the United States Senate. He has the whole thing organised like an army corps. What ARE you going to do? He sits in his office in San Francisco and pulls the strings and we’ve got to dance.”

“But—well—but,” hazarded Broderson, “but there’s the Interstate Commerce Commission. At least on long-haul rates they–-”

“Hoh, yes, the Interstate Commerce Commission,” shouted Annixter, scornfully, “that’s great, ain’t it? The greatest Punch and Judy; show on earth. It’s almost as good as the Railroad Commission. There never was and there never will be a California Railroad Commission not in the pay of the P. and S. W.”

“It is to the Railroad Commission, nevertheless,” remarked Magnus, “that the people of the State must look for relief. That is our only hope. Once elect Commissioners who would be loyal to the people, and the whole system of excessive rates falls to the ground.”

“Well, why not HAVE a Railroad Commission of our own, then?” suddenly declared young Osterman.

“Because it can’t be done,” retorted Annixter. “YOU CAN’T BUCK AGAINST THE RAILROAD and if you could you can’t organise the farmers in the San Joaquin. We tried it once, and it was enough to turn your stomach. The railroad quietly bought delegates through S. Behrman and did us up.”

“Well, that’s the game to play,” said Osterman decisively, “buy delegates.”

“It’s the only game that seems to win,” admitted Harran gloomily. “Or ever will win,” exclaimed Osterman, a sudden excitement seeming to take possession of him. His face—the face of a comic actor, with its great slit of mouth and stiff, red ears—went abruptly pink.

“Look here,” he cried, “this thing is getting desperate. We’ve fought and fought in the courts and out and we’ve tried agitation and—and all the rest of it and S. Behrman sacks us every time. Now comes the time when there’s a prospect of a big crop; we’ve had no rain for two years and the land has had a long rest. If there is any rain at all this winter, we’ll have a bonanza year, and just at this very moment when we’ve got our chance—a chance to pay off our mortgages and get clear of debt and make a strike— here is Shelgrim making a deal to cinch us and put up rates. And now here’s the primaries coming off and a new Railroad Commission going in. That’s why Shelgrim chose this time to make his deal. If we wait till Shelgrim pulls it off, we’re done for, that’s flat. I tell you we’re in a fix if we don’t keep an eye open. Things are getting desperate. Magnus has just said that the key to the whole thing is the Railroad Commission. Well, why not have a Commission of our own? Never mind how we get it, let’s get it. If it’s got to be bought, let’s buy it and put our own men on it and dictate what the rates will be. Suppose it costs a hundred thousand dollars. Well, we’ll get back more than that in cheap rates.”

“Mr. Osterman,” said Magnus, fixing the young man with a swift glance, “Mr. Osterman, you are proposing a scheme of bribery, sir.”

“I am proposing,” repeated Osterman, “a scheme of bribery. Exactly so.”

“And a crazy, wild-eyed scheme at that,” said Annixter gruffly. “Even supposing you bought a Railroad Commission and got your schedule of low rates, what happens? The P. and S. W. crowd get out an injunction and tie you up.”

“They would tie themselves up, too. Hauling at low rates is better than no hauling at all. The wheat has got to be moved.” “Oh, rot!” cried Annixter. “Aren’t you ever going to learn any sense? Don’t you know that cheap transportation would benefit the Liverpool buyers and not us? Can’t it be FED into you that you can’t buck against the railroad? When you try to buy a Board of Commissioners don’t you see that you’ll have to bid against the railroad, bid against a corporation that can chuck out millions to our thousands? Do you think you can bid against the P. and S. W.?”

“The railroad don’t need to know we are in the game against them till we’ve

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