"Sure. But there's not a very great deal that could be milled into
high-grade paper pulp; and it's getting rapidly worked out in most other
countries. Then, as a rule, it's mixed up with firs, cedars and
cypresses; and that means the cutting of logging roads to each cluster of
milling trees. There's another point--a good deal of the spruce lies back
from water or a railroad, and in some cases it would be costly to bring
in a milling plant or to pack the pulp out."

"That's obvious; anyway, where you would have to haul every pound of
freight over a breakneck divide."

Drayton leaned forward confidentially.

"Then if one struck high-grade paper spruce--a whole valley full of
it--with water power and easy access to the sea, there ought to be money
in the thing?"

"Yes," Vane answered with growing interest; "that strikes me as very
probable."

"I believe I could put you on the track of such a valley."

Vane looked at him thoughtfully.

"We'd better understand each other. Do you want to sell me your
knowledge? And have you offered it to anybody else?"

His companion answered with the candor he expected.