Carrington merely emitted a bourdon grunt. Morton, however, maintained
the argument, undeterred by the finality of Hamilton's manner.

"But, my dear boy," he exclaimed quickly, "we're not asking you to do
anything that you haven't done already. Why, you furnished me with one
lot at nine cents."

"At a loss, in order to secure custom against competition," was the
prompt retort. "It costs exactly eleven cents to turn out those boxes."

Morton persisted in his refusal to admit the justice of the young man's
refusal to accept the terms offered.

"But, my dear boy," he continued, "take your last four bids. I mean the
bids that you and Carrington made before we bought out Carrington. The
first, time, Carrington bid eleven cents; while you bid fourteen. On the
second lot Carrington bid thirteen; and you bid nine."

"You illustrate my contention very well," Hamilton interrupted. "At
eleven cents a box, Carrington hardly quit even. It was for that reason
he bid thirteen on the following lot; while I, because I was bound to
get a look in on the business, even at a loss--why, I bid nine cents.
The result was that I got the order, and it cost me a loss of just two
cents on each and every box to fill it." A contented rumble from the
large man emphasized the truth of the statement.

Nothing daunted, Morton resumed his narrative of operations in the box
trade.

"On the third lot, Carrington bid eight cents, while you bid eighteen."

Carrington's indignation was too much for reticence.

"Yes, I got that order," he roared, wrathfully. "It was a million box
order, too--" The withering look bestowed on the speaker by Morton
caused him to break off and to cower as abjectly in his chair as was
possible to one of his bulk.

"His success in being the winner in that bout cost him three cents each
for the million boxes," Hamilton commented. "Well?"

"Well," Morton said crisply, "for the fourth and biggest order,
Carrington bid seventeen, and you bid sixteen."

"Yes, yes!" Carrington spluttered, forgetful of the rebuke just
administered to him. "And, on the four lots, Hamilton, you cleaned up a
profit, while I lost out--so much that I had to sell control of my
plant. And you call that fair competition!"

Morton grinned appreciation. The young man regarded the ponderous figure
of Carrington with something approaching stupefaction over the sheer
bravado of the question.

"Was that your motive in joining the trust," he demanded ir