His visitor pondered for a moment or two; and then he crumpled the report in his hand, growing red in the face.

"You seem content with this production. It looks as if you had meant to back out."

Herbert looked at him tranquilly.

"Well," he said, "that's my intention now; and I don't think that you can induce me to alter it. I can't see that we would be justified in floating the concern."

"But it was you who suggested it and led us on! What about the money we have already spent?"

"It's gone. I'm sorry, but things don't always turn out right. When I first mentioned the matter, the prospects looked good; investigation places them in a less favorable light, for which you can hardly hold me responsible. You took a business risk."

The other man angrily flung the report on the table.

"This has been a blow to me, and I'm far from appreciating the course you've taken. But what about the older concern? Though we don't seem to have turned out much rubber yet, I suppose its position is still satisfactory?"

Herbert saw suspicion in the man's face and he rang a bell.

"I think you had better satisfy yourself; I have the necessary particulars here."