t the indignant youth with a mingling of surprise and
pity.

"My dear boy," he said, "you are excited. Don't permit yourself to
become so wrought up and to use such violent language. I have simply
explained to you the usual method of building railroads, as Mr. Scott
and the other gentlemen will attest."

"Then the usual method of building railroads is a rotten and dishonest
method!" exclaimed Merry. "Mr. Scott, do you approve of such a scheme?"

"What if I should tell you that I do?" asked Old Gripper, his stolid
face calm and unreadable.

"Then here and now I would lose no time in announcing my withdrawal from
the project," retorted Merriwell. "I am not a poor man, but did I not
possess a dollar in the world, and you were to show me beyond question
that I could make five millions as my own share by entering into such a
dastardly operation, I would refuse to have anything to do with it."

"Very well," said Jerome, with one of his cold smiles, "it will be a
simple matter to leave you out of it. If I have been correctly informed,
your principal reason for wishing this railroad constructed is to give
you better facilities for handling the production of a mine of yours,
located in Eastern Sonora, near the line of the proposed road. Am I
right?"

"If you are--what then?"

"We may build the road, and you need have nothing to do with it. The
desired result will be obtained, for your mine will have an outlet by
rail to the rest of the world, and you will no longer find it necessary
to pack ore or bullion hundreds of miles to the nearest railroad
shipping point."

"Then you are ready to carry this thing through without me?" asked
Frank, holding himself in check.

"If these other gentlemen are ready to take hold of it in the proper
manner, they will find me ready to stand with them."

"And the proper manner is the dishonest manner you have just explained
to us! Not only do I decline to take a part in such an operation, but I
refuse to permit it to be carried out!"

"What?" cried Jerome, surprised out of his icy reserve for once. "I
don't think I understand you. You refuse to permit us to carry it out?"

"That is what I said, sir. Evidently you understood me perfectly."

"You refuse?" repeated Jerome.

"Yes, sir."

The man smiled.

"I fail to see what effect that can have on us. To begin with, you are
crazy to make such ridiculous talk. Don't you want that railroad?
Wouldn't it be of benefit to you?"

"I wan