safe that
were just so much waste paper, and he found records of other hundreds of
thousands in safety deposit vaults that had no greater value. The real
estate, the more solid and to the male Sherwoods the less interesting
part of the fortune, had long been in the care of agents; and since
Larry was prohibited from going out and studying the condition and true
value of these holdings, he had to depend upon the book valuations and
the agents' reports and letters. Upon the basis of these valuations he
estimated that some holdings were returning a loss, some a bare one and
a half per cent, and some running as high as fifteen per cent. Larry
found many complaints from tenants; some threatening letters from the
Building Department for failure to make ordered alterations to comply
with new building laws; and some rather perfunctory letters of advice
and recommendation from the agents themselves.

From Miss Sherwood Larry learned that the agents were old men, friends
of her father since youth; that they had both made comfortable fortunes
which they had no incentive to increase. Larry judged that there was no
dishonesty on the part of the agents, only laxity, and an easy adherence
to the methods of their earlier years when there had not been so much
competition nor so many building laws. All the same Larry judged that
the real-estate holdings were in a bad way.

Larry liked the days and days of this work, although the farther he went
the worse did the tangle seem. It was the kind of work for which his
faculties fitted him, and this was his first chance to use his
faculties upon large affairs in an honest way. Thus far his work was all
diagnostic; cure, construction, would not come until later--and perhaps
Miss Sherwood would not trust him with such affairs. This investigation,
this checking up, involved no risk on her part as she had frankly
told him. The other would: it would mean at least partial control of
property, the handling of funds.

Miss Sherwood had many sessions with him; she was interested, but she
confessed herself helpless in this compilation and diagnosis of so
many facts and figures. Dick was prompt enough to report his stock
transactions, and he was eager enough to discuss the probable
fluctuation of this or that stock; but when asked to go over what Larry
had done, he refused flatly and good-humoredly to "sit in any such slow,
dead game."

"If my Solomon-headed sister is satisfied with what you're doing