Ryder had avoided Montague’s gaze; he sat staring in front of him, and tapping nervously with a pencil upon his desk.  It was some time before he answered.

“Mr. Montague,” he said, finally, “I am very sorry indeed to hear your decision.  But taking all the circumstances into consideration, it seems to me that perhaps it is a wise one.”

Again there was a pause.

“You must permit me to thank you for what you have done,” Ryder added.  “And I trust that this unfortunate episode will not alter our personal relationship.”

“Thank you,” said Montague, coldly.

He had waited to see what Ryder would say.  He waited again, having no mind to help him in his embarrassment.

“As I say,” Ryder repeated, “I am very much obliged to you.”

“I have no doubt of it,” said Montague.  “But I trust that you do not expect to end our relationship in any such simple way as that.”

He saw Ryder’s expression change.  “What do you mean?” he asked.

“There is a matter of grave importance which has to be settled before we can part.  As you know, I am personally the holder of five hundred shares of Northern Mississippi stock; and to that extent I am interested in the affairs of the road.”

“Most certainly,” said Ryder, quietly, “but I have nothing to do with that.  As a stockholder of the road, you look to the board of directors.”

“Besides being a stockholder myself,” continued Montague, without heeding this remark, “I have also to consider the interests of the three persons whom I interviewed in your behalf.  I was the means of inducing these people to vote for the board which you named.  I was the means of inducing them to place themselves in the power of Mr. Price and yourself.  This being the case, I consider that my honour is involved, and that I am responsible to them.”

“What do you expect to do?” asked Ryder.

“I have written to them, informing them of my intention to withdraw.  I have not told them the circumstances, but have simply indicated that I find myself powerless to prevent certain things to which I object.  I have told them the course I intend to take, and offered them the opportunity to get out upon the same terms as myself.  They have accepted the offer, and to-morrow I should receive their stock certificates, and their authorisation to dispose of them.  I have my own certificates here; and I have to say that I consider you are under obligation to purchase this stock at the same price which you paid for the new stock; namely, fifty dollars a share.”

Ryder stared at him.  “Mr. Montague, you amaze me!” he said.

“I am sorry for that,” said Montague.  His voice was hard, and there was a grim look upon his face.  He fixed his eyes upon Ryder.  “Nevertheless,” he said, “it will be necessary for you to take the stock.”

“I am sorry to have to say it,” said Ryder, “but this seems to me impertinent.”