"Then things are coming well. Henderson can give us all the details we need. Well, when do you look for an attack from Macgowan?" "When we least expect it." The attack came soon enough, with a savage disregard for truth. Macgowan, indeed, had perforce to disregard truth if he were to make any attack. As secretary and treasurer, Macgowan was the real head of Consolidated Securities. This was a crafty move, for it outwardly relegated Macgowan to the background and left Findlater to enjoy his prominence as president--and also to bear the brunt of attack from the Protective Association. This arrangement had other uses, also. Macgowan's law firm or firms, for he was interested in more than one, could profit largely, while Macgowan himself drew a thousand a month for his personal services. Thus the cream of the loot fell to Macgowan. Findlater, although recompensing himself in full, had at least some idea of retaining Consolidated as a going concern. Macgowan, more shrewd and crafty, knew better--knew that some day his joy-ride must come to an end. Findlater did not take in just how far he was serving as a tool in the cunning hand of his associate. He was only too well aware, however, of Macgowan's dictatorial manner, and resented it. Thus, when the attack on Armstrong and the Protective Association was opened, the guns were fired by Findlater, as president of Consolidated. A full broadside was delivered; a broadside of calumny which even extended to Doctor Bruton and Rupert Sessions, but which was aimed at Armstrong. By the very audacity of its charges and vilifications it was calculated to stagger its recipients. It came in the form of a _Consolidated Magazine_, sent out to investors generally as a reply to the _Armstrong Review_ the house organ of the Armstrong Company, which was at present being used by the Association committee. Macgowan had employed writers of some talent, and under cover of Findlater's name he went the limit. Adopting a tone of dignified censure, the president set forth that the Armstrong Company had been "discharged" as the fiscal agent of Consolidated; he gave copies of the affidavits which had "caused" the postal investigation; he charged that Armstrong and his hirelings were now attacking Consolidated for the purpose of getting at its funds. In effect, the charges made by Armstrong were simply turned back on him, yet with no more evidence than truth. The result was well calculated, however, to impress the small investor. Covert attacks were made upon the integrity of the Association committee. A special article, venomously penned, purported to set forth Armstrong's biography--a combination of actual untruths and of innuendoes which made Armstrong first laugh, then whiten with fury. He laid the matter before Mansfield, who glanced through the articles and then smiled. "Well? I suppose we'll file libel suits immediately?"