market would be a very serious matter indeed for us. On the other
hand, if we had control of it, we should, I imagine, be in a position
to dictate our own terms."

"You certainly would," I said; "there is no question about that. My
explosive would be no more expensive to manufacture than cordite."

"So you see when some exceedingly convenient chance brought you in
through our kitchen window it naturally occurred to me to invite you
to stay and discuss the matter. You happen to be in a position in
which you could be useful to us, and I think that we, on the other
hand, might be of some assistance to you."

He leant back and watched me with that cold smile of his.

"What do you say, Mr. Lyndon?" he added.

I did some rapid but necessary thinking. It was quite true that the
new explosive would knock the bottom out of the present methods of
manufacture, and McMurtrie's interests in the matter might well be
large enough to make him run the risk of helping me. There seemed no
reason to doubt that he was speaking the truth--and yet, somehow or
other I mistrusted him--mistrusted him from my soul.

"How did you know about my experiments?" I asked quietly.

He shrugged his shoulders. "There are such things as trade secrets. It
is necessary for a business man to keep in touch with anything that
may threaten his interests."