“And I refused Dickover’s offer,” he concluded bluntly, “and accepted his threat to smash the stock. He’ll do it, too. By this time he’s sent orders to his brokers to sell it, to smash the market flat.” The girl’s eyes were steady on his. “I’m content,” she said curtly. “But please explain. You’ve some scheme?” “You’ve said it. _Some_ scheme! Do you mind if I smoke? My nerves are jumpy, and they’ll be worse before they’re better.” She made a gesture of impatient assent. He lighted Dickover’s parting gift and for a space sat in silence, his face deeply lined in thought. “I’ve got to make this clear to you,” he said at last slowly. “You know anything about low-grade silver ores?” “Very little.” “They’re low-grade because they are mixed with lead or zinc, hold a small proportion of silver, and yield very small profit. The separation of the silver and zinc is difficult. A hyperstatic process has been invented, but if a chemical process could be found, it would be cheaper and better; besides, it would make a yield of zinc as well as of silver. And to-day both zinc and silver are soaring. You understand?” She nodded quickly. “And—and you think such a process has been found?” A gleam of admiration sprang into Bowen’s gray eyes. For the first time, he smiled his likable, boyish smile. “Great Jehu, there is nothing slow about you!” he breathed. “Yes. My guess—and mind this, it’s no more than a guess—is that Dickover has advance information that this chemical process is now a verity. You see? It is probably workable on ores of a certain silver-zinc combination. I deduce this from the fact that the Apex Crown, the two holdings I sold Henderson, and the Big Bony I sold Dickover are of almost the same identical ore properties. Only such a discovery would get Dickover after low-grade ores.” She was leaning forward now, her eyes shining like twin stars. “I see! Of course!” she exclaimed eagerly. “Henderson learned of this and at once went out on his own hook to secure all the mines and claims possible containing this grade of ore! And Dickover is here in San Francisco to buy everything in sight before news of the discovery has broken! Is that it?” “You’ve said it. So far all’s straight. Got any questions ready?” “Heaps!” The girl laughed, then instantly grew grave. “Dickover knows that Henderson is a traitor and has been buying Apex Crown; yet Dickover is ready to buy our stock, make the Apex Crown a great success and enrich Henderson! Why?” “I’ve doped it out; I struck the same snag myself—and others, too. Like this! If Dickover gets our block of stock, he controls that mine. He can let it lie useless for years, until Henderson has given up hope and sold out the stock he’s been buying. And until that happens, Dickover lets the mine lie dead for five years or fifty! Savvy?”