such faith in my ability to trim Hudner I had to make good. I have a
letter from Hudner to prove it; and to-day at luncheon, when we're all
gathered at the Round Table, I'm going to read that letter and my
reply to the same; and Hudner will have fifty dollars' worth of hat
bills to pay!"

"How did you tan his pelt?" Skinner queried.

"Easy! While you were away I chartered his steamer Chehalis for a
load of redwood lumber from Humboldt Bay to San Francisco at three
dollars and a half a thousand feet. Of course, you know a boat like
the Chehalis, with a big pay-roll, will break just even on such a low
freight rate; but inasmuch as he was going to lay the Chehalis up in
Oakland Creek, owing to lack of business, when I offered him a load of
redwood he concluded to take it, just to keep the vessel moving and
pay expenses. I stipulated discharge in San Francisco Bay.

"Well, sir, when the Chehalis got to our mill, Skinner, I ordered them
to load her with sinkers--oh! oh, this will be the death of me yet,
Skinner. And we gave her poor dispatch in loading. Then she had to
lay behind the bar two days longer before she could cross out; and
when she got here I ordered her to discharge into the British bark
Glengarry--and discharging from one vessel in to another is the
slowest work in the world. And Hudner--he's--written--me, Skinner,
declaring he'll never charter a boat to me again; says the Chehalis
lost two thousand dollars on the voyage." And Cappy went off into a
gale of laughter, and handed Skinner the letter to read.

For the benefit of the reader, who may desire a closer insight into
Cappy's Machiavellian nature, be it known that a sinker is a heavy,