"Not really. They're all too vague. I can't for the life of me see
what O'Connor has to gain by getting the Guardian out of the
Conference. What good can it possibly do him personally?"

"I feel sure you'll hit on the correct solution at last," Helen said
thoughtfully, "because I have a distinct remembrance that one of your
chance shots went right to the mark when Charlie Wilkinson was trying
to get Mr. Hurd to insure his street car company. Charlie thought it
was tremendously clever of you. It was the first time I had ever heard
of you."

Smith looked at her quickly. Feeling rather than seeing the glance,
the girl hastily continued:--

"I wonder whether Mr. Hurd ever decided to carry insurance."

"I wonder, too," the underwriter agreed, with amusement. "If cool
nerve counts for anything, your friend Wilkinson ought to have come out
all right. I must ask Mr. Osgood about it the next time I go to
Boston."

"If he does succeed, I'm sure he'll feel it was quite largely due to
your suggestion. And that is why I think you'll eventually solve the
mystery of Mr. O'Connor's conduct."

"I wish I could believe it. But I seem to be as far away as when I
began to speculate. The only things I can think of don't appear to me
to be reasonable."

"What are some of them? Could I understand them?"

"Better than I, very likely. Since I've gotten you so far into this
horribly businesslike affair, I may as well go all the way through. As
I said, I can't see how O'Connor can personally get any advantage out
of this in any conceivable way, so long as he stays with the Guardian."

"But suppose he himself resigned--what then? Or don't people ever
leave the Guardian?"

"Oh, minor employees, of course--they're always shifting about. But no
one of any importance has left the company, except by old age or death,
for a good many years. Nobody knows exactly why, but it's a good
company, and every one just stays. And besides, if O'Connor got out to
go with some one else, what good would this move have done him?"

"Isn't it just possible that he has gotten the impression the company
has treated him badly, and he is trying to do something to hurt it
before he leaves?"

"Pure malignance? Hardly that. And besides, if that were so, why
should Mr. Wintermuth accept his suggestion? No, I can't believe that
is it."

"What could Mr. O'Connor do, supposing that he left the Guardian and
went with some other company?"

"Tha