rmore," Smith continued, "the Guardian feels that it would
prefer to cancel all policies written through your agency. I hope that
this can be arranged without trouble to your firm."

Bloom laughed, and directed a stream of tobacco juice into a convenient
cuspidor.

"Sure it can, Mr. Smith," he said, "because this firm absolutely
declines to have nothing to do with it. If you want any policies
canceled, cancel 'em yourselves."

"Well," said Smith, "if we cancel all these policies we will
undoubtedly inconvenience the brokers that placed the business with
you, and they'll come back at you. Now I tell you what I'll do. If
you'll cancel these policies and replace the lines in one or more of
your other companies, I won't demand any return commission. By just
substituting other policies you can square yourselves with the brokers
and make a double commission besides. Isn't that fair?"

The three partners looked at one another inquiringly.

"That seems all right," Sternberg finally said. "But you're making a
mistake to leave us, Mr. Smith. I tell you that straight. No one else
can give you what we can."

Probably the last statement was absolutely true, but it did not alter
the New Yorker's decision.

"Well, we won't go into that," he said. "I shall expect our canceled
policies to come along as soon as you can get at them. Meanwhile,
please give me your commission of authority and unused policies
forty-one twenty-seven to forty-five hundred inclusive. You can send
back the rest of the supplies by express collect, or destroy them."

A few minutes later, Smith, with a large bundle under each arm, might
have been seen leaving the office of his late agents and making
straight for an express office from where he shipped the Guardian's
supplies back to New York. To Mr. Wintermuth he sent a telegram which
read concisely, "Closed Sternberg, Bloom, and McCoy agency. Smith."
He then sought a telephone booth.

"Hello. Is this Mr. Silas Osgood? Yes, I'd like very much to see you.
That's very good of you to say so. Yes, last evening--I called for a
few minutes. Can't you take lunch with me at the Touraine? Good--in
about half an hour."

It was a very cordial meeting between the two, and when they sat down
to luncheon in a peaceful corner where their talk would be
uninterrupted, Mr. Osgood was more alert and cheerful than the veteran
underwriter had been since the bleak day when O'Connor and the Eastern
Confere