nothing. Then, in March, of
the third year, the property was released by Mr. Warren to persons in
Para, who were to develop and operate. The terms of his new lease were
very advantageous. Royalties were to be paid on a sliding scale, and,
from the very first, they were large. The Akrae Company paid enormous
dividends."

"Did, hey? I want to know!"

"Yes. In fact, for twelve years the company's royalties averaged $50,000
yearly."

"Whe-e-w!" Captain Elisha whistled. "Fifty thousand a year!" he repeated
slowly. "'Bije! 'Bije!"

"Yes. And three years ago the Akrae Company sold its lease, sold out
completely to the Para people, for seven hundred and fifty thousand
dollars."

"Godfreys mighty! Well," after a moment, "that's what I'd call a
middlin' fair profit on a twenty thousand dollar investment--not to
mention the dividends."

"Captain," Sylvester leaned forward now; "Captain," he repeated, "it is
that sale and the dividends which are troubling us. I told you that the
Akrae Company was organized with two hundred and fifty shares of stock.
Your brother held one hundred in his own name and fifty transferred to
him by his dummy, Craven. What I did not tell you was that there were
another hundred shares, held by someone, someone who paid ten thousand
dollars for them--we know that--and was, therefore, entitled to
two-fifths of every dollar earned by the company during its existence,
and two-fifths of the amount received for the sale of the lease. So far
as we can find out, this stockholder has never received one cent."

The effect of this amazing announcement upon the uniniated member of the
council was not as great as the lawyers expected it to be. "You don't
tell me!" was his sole comment.

Graves broke in impatiently: "I think, Captain Warren," he declared,
"that you probably do not realize what this means. Besides proving your
brother dishonest, it means that this stockholder, whoever he may have
been--"

"Hey? What's that? Don't you know who he was?"

"No, we do not. The name upon the stub of the transfer book has been
scratched out."

Captain Elisha looked the speaker in the face, then slowly turned his
look upon the other two faces.

"Scratched out?" he repeated. "Who scratched it out?"

Graves shrugged his shoulders.

"Yes, yes," said the captain. "You don't know, but we're all entitled to
guess, hey?... Humph!"

"If this person is living," began Sylvester, "it follows that--"

"Hold on a minu