even considered the possibility of securing the privilege by any other methods.  Montague did not like the prospect, but he said nothing.  Then again, the road was to purchase its rails and other necessaries from the Mississippi Steel Company, and apparently it was expected to pay a fancy price for these; it was not to ask for any of the discounts which were customary.  Also Montague was troubled to learn that the secretary and treasurer of the road were to receive liberal salaries, and that no questions were to be asked, because they were relatives of Price.

All that he put up with; but matters came to a head about ten days before the election, when one day Haskins came to his office with the engineers’ estimates, and with his own figures of the probable cost of the extension.  Most of the figures were much higher than those which Montague had worked out for himself.

“We ought to do better on those contracts,” he said, pointing to some of the items.

“I dare say we might,” said Haskins; “but those contracts are to go to the Hill Manufacturing Company.”

“I don’t understand you,” said Montague; “I thought that we were to advertise for bids.”

“Yes,” replied Haskins, “but that company is to get the contracts, all the same.”

“You mean,” asked Montague, “that we are not to give them to the lowest bidder?”

“I’m afraid not,” said the other.

“Has Price said anything to you to that effect?”

“He has.”

“But I don’t understand,” said Montague; “what is this Hill Manufacturing Company?”

And Haskins smiled.  “It’s a concern that Price has organised himself,” he said.

Montague stared in amazement.  “Price himself!” he gasped.

“His nephew is president of the company,” added the other.

“Is it a new company?” Montague asked.

“Organised especially for the purpose,” smiled the other.

“And what does it manufacture?”

“It doesn’t manufacture anything; it simply sells.”

“In other words,” said Montague, “it’s a device whereby Mr. Price proposes to rob the stockholders of the Northern Mississippi Railroad?”

“You can phrase it that way if you choose,” said Haskins, quietly; “but I wouldn’t advise you to let Price hear you.”

“I thank you,” responded Montague, and brought the interview to an end.

He took a day to think the matter over.  It was not his habit to act upon impulse.  He saw that the time had come for him to speak, but he wished to be sure of his course of action before he began.  He had dinner at the Club that evening, and, seeing his friend Major Venable ensconced in a big leather chair in the reading-room, he went and sat down beside him.

“How do you do, Major?” he said.  “I’ve got another case that I want to ask you some questions about.”

“Always at your service,” said the Major.

“It has to do with a railroad,” said Montague.  “Did you ever hear of such a thing as a railroad president organising a company to sell supplies to his own road?”