well as at yours?"

"Oh, it's a guess," laughed Ford. "Call it that, anyhow. At least, I
haven't any of your confidential clerks in my pay. But just how bad is
the report going to be?"

The auditor shook his head.

"Worse than the last one. Perhaps you have noticed that the stock has
dropped six points in the past week. You're one of the official family:
I don't mind telling you that we are in the nine-hole, Ford."

"Of course we are," said Ford, with calm conviction. "That much is
pretty evident to a man who merely reads the Wall Street news bulletins.
What is the matter with us--specifically, I mean?"

Evans shrugged.

"Are you a division superintendent on the system and don't know?" he
demanded. "We are too short at both ends. With our eastern terminal only
half-way to Chicago, we can't control the east-bound grain which grows
on our own line; and with the other end stopping short here at Denver,
we can't bid for west-bound transcontinental business. It's as simple as
twice two. Our competitors catch us going and coming."

"Precisely. And if we don't get relief?"

The auditor smiled grimly.

"As I've said, you're one of us, Ford, and I don't mind speaking freely