thern Consolidated. It must fall to twenty by every rule of
speculation. Facing collection by the government of those claims for
lands ravished and pine trees swept away, to say naught of losing
original grants which were as its life-blood to Northern Consolidated,
the value of the stock--to speak most hopefully in its favor--would be
diminished by one-half.

The conspirators grew in confidence as they talked, and at the end
looked upon Northern Consolidated as already in their talons. They named
the old gray buccaneer to manage for the pool. The amount to be paid in
by each of the eight members--for they counted Senator Hanway--was
settled at five hundred thousand dollars. Four millions would be
required to start the ball rolling; the "bear" movement in the beginning
would demand margins. Once under headway, it would take care of itself.
It would succeed like a barrel downhill.

Storri did not protest the suggestion of the old gray buccaneer that
four millions be contributed to form a working capital for the pool. His
share of a half-million meant fifty thousand more dollars than Storri at
the time possessed, but he did not propose to have the others discover
the fact. Somehow he would scrape together those fifty thousand; his
note might do. Being, like every savage, a congenital gambler, Storri
went into the pool with zest as well as confidence, and rejoiced in
speculation that offered chances wide enough to employ his last dollar
in the stake. Moreover, those four millions would not be asked for
before the first of January. Other speculations might intervene, and
provide those lacking fifty thousand.

Mr. Harley laid the Storri project, and the plans of the pool to seize
Northern Consolidated, before Senator Hanway. That candidate for a
Presidency knitted his brows and pondered the business. As with Mr.
Harley and the pirate five, the mad grandeur of the idea charmed him.
One element seemed plain: there could come no loss from the raid on
Northern Consolidated. He might go that far with safety, and a certainty
of profit; for in the Senate committee of investigation he, himself,
would play the controlling card.

"The proposal," said Senator Hanway, when he and Mr. Harley conferred,
"while gigantic in its unfoldment, seems a reasonable one. After all, it
is the amount involved that staggers rather than what obstacles must be
overcome. Taken piecemeal, I do not say that the entire scheme, even
Credit Magellan, with