that money I am
afraid we are going to need if we are to go as steeply as we'd like
into the building of submarines."

Jacob Farnum, it will be remembered, had married Grace Desmond, an
heiress. Her affairs were not yet fully settled through the probate
court, but she would presently be entitled to about a half million
dollars in her own right. To many it would have seemed that, with a
wife so rich, the inventor would not have to look far to find abundant
capital. Jacob Farnum, however, knew the hazards that surround even
the best conducted business concerns, and he had determined that not
a penny of his young wife's fortune should be risked in his own ventures.
In other words, it was a point of honor with him not to take the
slightest risk of involving his wife's private fortune.

The following morning David Pollard was on hand, in response to a
telegram from his friend. Things were now about in shape for final
discussion between Melville, the builder and the inventor.

In the private inner office of the shipyard the group of those most
interested gathered. Jacob Farnum seated himself beside his desk,
Pollard taking a chair close by. Lawyer Demarest, with a pile of
impressive looking documents before him, sat at a large flat-top desk.
Melville, senior, and two business friends, sat a little apart, while
Don Melville stood behind his father.

"I will say, in beginning," commenced George Melville, in his smoothest,
blandest tones, "that we have talked so far, you and I, Mr. Farnum, only
in general terms. We will now come to the definite proposition under
which my friends and myself are willing to contribute the share of new
capital that you want in your business."

"That is what I most want, before we go any further," assented Mr. Farnum.
"I will say, however, that I have in mind a proposition that I would
like to submit, before we hear from your side."

"I am listening," nodded Mr. Melville, suavely.

"We have already decided," continued Mr. Farnum, "that my boat yard, with
all its equipment, and including the ownership of the 'Pollard,' may be
fairly rated at three hundred thousand dollars."

"That is quite true," nodded Mr. Melville. "That figure is in accordance
with the estimates made by our expert accountant."

"In the boat itself," continued Jacob Farnum, "my friend Pollard has a
stated amount of interest. To come quickly to the point, then, I propose
that Pollard and myself, with the aid of a n