s cigar. "You know as well as I do that under the present law in this
State we are practically bankrupt. We are not making enough to pay the
fixed charges. We do a losing business from the moment we cross your
State line."

"Yes; it seems to me I have heard something that sounded a good deal
like that before," was the noncommittal rejoinder.

"You have heard the simple truth, then. And it is a bald injustice, not
only to the railroad company, but to the people it serves. We can't give
adequate service when the cost exceeds the earnings. That is the
simplest possible proposition in any business undertaking."

"And you can't make out to convince the members of the State Railroad
Commission of the simpleness?" asked the man whom the vice-president
addressed as "Senator."

"You know well enough that we can't hope to convince a rabidly
anti-railroad commission," was the half-angry retort.

"Yet you are still running your railroad," suggested the other. "We
don't hear anything about your shutting down and tearing up the track."

"No; luckily, the Transcontinental System does not lie wholly within
your State boundaries. If it did, we might as well surrender our
charter and go out of business--shut down and tear up the track, as you
put it."

"All of which has come to be a pretty old and well-worn story with us,
McVickar," said the listener quietly. "I'm sure you didn't make me motor
thirty miles to hear you tell it all over again. What do you want?"

"We want a square deal," was the curt reply.

"So do the people of this State," asserted the man across the table.
"You bled us, Hardwick--bled us to the queen's taste--while you had the
chance; and the chance lasted a blamed long time. You are equitably, if
not legally, in debt to every man in this State who had ever shipped a
car-load of freight or paid a passenger fare over your line before the
present rate law went into effect. You can shuffle and side-step all you
want to, but that is the plain fact of the matter."

The vice-president sat up and braced his arms on the edge of the table.

"You are too much for me, Blount--you hold out too many cards; and I'm
no apprentice at the game, either. In all these years we've been
dickering together you've always been a hard-bitted and consistent
fighter for your own hand. What's happened to you lately? Have you
acquired a new set of convictions? Or have you been figuring out a
different way of whipping the devil around the