hted a cigarette;
then he rose and strolled over to the fireplace, resting his arm on the
mantel shelf. Red waited expectantly but there was visible discomfort in
the uneasy demeanor of the other three men.

"Boys," said Douglass, slowly but with incisive distinctness. "When I
took charge here I was under the impression that the O Bar O brand was
owned by a man in Middle Park named Wistar, a friend of Mr. Carter's. I
was even so assured by two of the men most trusted by Mr. Carter--I
think you know to whom I refer--as well as by Mr. Carter himself, who
was evidently misinformed. I have reason to believe that every man of
this outfit, except McVey, knew differently, but I have no intention of
asking any embarrassing questions. I want to say, however, that I am
satisfied that since I came to the C Bar none of our old cattle have
been absorbed by the O Bar O.

"But our tally sheets for the three previous years show a strange
discrepancy with our present bunch; we are shy about five hundred head
of cows, and our increase has fallen off unaccountably. And in this
year's round-up I noticed a great many motherless calves and yearlings
in the O Bar O brand. As a matter of curiosity I took a chance and
killed a few of them, and here are the hides." He walked over to his
bunk and took from underneath it three partly dried skins which he
spread flesh side uppermost on the floor. To their experienced eyes
it was plainly evident that the animals had been rebranded, the
differently healed scars showing very plainly that the brands were
originally C-- afterwards altered to O-O.

"Every man in this room knows what this means; and every man also is
aware that Mr. Matlock and Mr. Coogan always have been on terms of
closest intimacy, it being the general impression that they are partners
in several enterprises. Now, boys, I respect a man who keeps his own
counsel at all times, and I am aware that when a fellow wants to know
anything he is expected to find it out for himself. Well, I have been
finding out enough to warrant my keeping you men on this job. I am sure
that you are all right. But the fellows I let out this fall won't come
back. I am going to see that there are a few more C Bar calves on the
range this year, and a few less O Bar O's. If I had been reasonably sure
of my premises before, the thing would have been straightened up long
ago; but as I am going to acquire the O Bar O brand myself in a few
days, it won't make any dif