was wholly correct. The next morning that
capitalist called at Jacob Farnum's office.

"Farnum," he announced, "I've decided that, in order to heal all
breaches, and also to make what is very likely to be a good investment
for myself, I'll be ready to put in all the money desired with you, and
on what I think will be your own terms."

"Of course I feel greatly obliged to you," rejoined the boatbuilder, with
evident sarcasm. "But to put money into this enterprise, Mr. Melville,
would be to encourage, needlessly, competition with your own submarine
building."

"Oh, we can merge the two yards, Mr. Farnum," responded the capitalist,
with a wave of his hand.

"Some little time ago, Mr. Melville, I would have been very greatly
pleased with your offer. Now, Mr. Emerson stands ready with hundreds
of thousands of dollars. He knows that a trial trip is being arranged
for the Government, and he stands ready to act by the result. If we
can sell our first boat to the Government he stands ready to turn over
all the money we can possibly use."

"But what if the Government doesn't buy?"

"Then there would be no sense in using more capital for the present."

"The Government may be fairly well satisfied, and yet there may be a
hitch about buying one of your boats. What, then?"

"We shall have to wait and see," replied Mr. Farnum.

"But my offer, Mr. Farnum, if not accepted to-day, will not be repeated,"
warned the capitalist.

"Your offer, Mr. Melville, would not, under any circumstances, be
considered, or even tolerated," rejoined the boatbuilder, coolly.

George Melville leaped to his feet, his face flushing.

"Do you mean that?" he demanded, glaring at the man opposite him.

"I never meant anything more in all my life," smiled the boatbuilder.
"Mr. Melville, I thank you for suggesting that you are ready to advance
money, but I assure you, on my word, that I shall never have any
business dealings with any members of your family."

"Man, you are talking like an idiot! Throwing away chances like a
fool!" stormed Mr. Melville, his look becoming blacker every instant.

"And I appreciate the fact that you are much too wise a man to talk with
a fool," laughed the boatbuilder, walking over and throwing the office
door open. "Good morning! This will be my busy week."

"You'll want me when, it's too late," cried the angry capitalist,
striding through the doorway. "You will live to see the day, very
soon--"

What