in their own homes. In addition to
this Switzer had secured a report from the Canadian Pacific Railway
engineers showing that the coal possessed high steaming qualities. And
as to quantity, the seam could be measured where the creek cut through,
showing enough coal in sight to promise a sufficient supply to warrant
operation for years to come. In brief, the report submitted by the young
German was that there was every ground for believing that a paying
mine, possibly a great mine, could be developed from the property on Mr.
Gwynne's land. In regard to the market, there was of course no doubt.
Every ton of coal produced could be sold at the mine mouth without
difficulty. There remained only the question of finance to face. This
also Switzer had considered, and the result of his consideration was
before them in a detailed scheme. By this scheme a local company was
to be organised with a capitalisation of $500,000, which would be
sufficient to begin with. Of this amount $200,000 should be assigned
to the treasury, the remaining $300,000 disposed of as follows: to Mr.
Gwynne, as owner of the mine, should be allotted $151,000 stock, thus
giving him control; the remaining $149,000 stock should be placed
locally. The proposition contained an offer from Switzer to organise the
company and to place the stock, in consideration for which service he
asked a block of stock such as the directors should agree upon, and
further that he should be secretary of the company for a term of five
years at a salary of $2,000 per annum, which should be a first charge
upon the returns from the mine.

"Ernest insists on being secretary?" said Nora.

"Yes, naturally. His interests are all here. He insists also that I be
president."

"And why, Dad?" enquired Nora.

"Well," said Mr. Gwynne, with a slight laugh, "he frankly says he would
like to be associated with me in this business. Of course, he said some
nice things about me which I need not repeat."

"Oh pshaw!" exclaimed Nora, patting him on the shoulder, "I thought
you were a lot smarter man than that. Can't you see why he wants to be
associated with you? Surely you don't need me to tell you."

"Nora dear, hush," said her mother.

With an imploring look at her sister, Kathleen left the room.

"Indeed, Mother, I think it is no time to hush. I will tell you, Dad,
why he wants to be associated with you in this coal mine business.
Ernest Switzer wants our Kathleen. Mother knows it. We all