you, sir, that we cannot cancel the charter without first
making formal, written demand for our charter money."

"Well," said Cappy, "we'll get round that all right."

"Pray, how?"

"What time did Matt Peasley leave this office after the battle
yesterday?"

"I should say in the neighborhood of half after three."

"Hum! Ahem! Harump-h-h! The banks close at three, and they do not reopen
for business until ten this morning. It is now exactly a quarter of
nine. Has Matt Peasley had time to procure a certified check since he
arrived from Panama--or has he not?"

"The situation admits of no argument," Mr. Skinner admitted.

"Exactly! He didn't have time yesterday, and he sha'n't have time
to-day, and to-morrow will be too late, because his money is due us
to-day! We shall lift all those libels and free the Tillicum for him;
then we shall make formal demand upon him for eighteen thousand dollars,
in cash or certified check--we can legally decline his check unless
certified--and when he fails to make good we formally cancel the
charter. Then what happens? I'll tell you. We grab the boat with a full
cargo from him as he grabbed it from Morrow & Company with a full cargo.
Then we collect the freight on that northbound cargo as he collected the
freight on the southbound cargo, and," Cappy continued calmly, "I dare
say that freight money will put us in the clear on all those bills we're
stuck for."

"And to do all this," Skinner remarked sententiously, "it is necessary
to tie up Matt Peasley's bank account the instant the bank opens this
morning."

"Skinner," said Cappy feelingly, "you get me almost before I get myself.
Now listen, while I give you your orders: Go right up to our attorney's
office, take our copy of the charter with you, explain that Matt has
defaulted in his payments, and instruct our attorney to enter suit
to collect. Tell him to get the complaint out and filed within
three-quarters of an hour, and then, the instant he has filed the suit,
he is to get out a writ of attachment on the Pacific Shipping Company's
bank account."

"But we cannot do that, Mr. Ricks. We must make formal, written demand
for the payments in arrears before we can proceed to force collection--"

"Certainly. We'll do that after we've tied up his bank account."

"But when we get into court we'll be nonsuited because we didn't do that
first."

"I sincerely hope so. But in the meanwhile we've tied up Matt's bank
account, and whil