“Because his competitors do. He’s afraid not to. He has some dim sort of fear that the papers will soak him if he don’t. That’s where the blackmail comes in, if he had sense enough to figure it.” “There won’t be any blackmail with us.” “But the merchants won’t know it. They’ll advertise, and because they advertise they’ll think they’re entitled to a say in the paper. They’ll try to run it for you, too.” “Will they?” muttered Jeremy in a tone which suggested that there might be difficulties attending the fulfillment of the ambition. “Ay-ah. In good faith, too. There’s something in their theory--I guess--from their point of view.” “Well, I’ll give them a chance to explain it,” said the new owner. “My plan is to round ’em up at a lunch, and then have it out with ’em. What do you think?” “Fine! Feed ’em. Then kick ’em in the stomach.” “No, sir! pat ’em on the back and talk reason to them. That’s where _you_ come in. They know you’re a real newspaper man. They’ve got to find it out yet, about me.” Out of thirty of the principal local advertisers in The Guardian, twenty-one accepted Jeremy Robson’s invitation to lunch with him at the Fenchester Club, with a “business conference” to follow. Their attitude toward the gustatory part of the proceedings was that of wary fish toward food which might conceal a hook. Very nice luncheon, but--what was behind it? They had never had confidence in The Guardian under A. M. Wymett. Why should they have more in an unknown quantity like young Robson? Sensing plainly this feeling, Jeremy perceived that here was the time and place for finesse. Unfortunately he lacked that particular quality. What was the next best thing to having it at call, he appreciated his want of it, and instead of blundering strategically around the point he went straight to it in the briefest of speeches. “Gentlemen: I’ve brought you here to state the new policy of The Guardian. The advertising rate will be that of the rate card. The same system of discounts to all. No rebates. I’d be glad to hear your views.” He sat down. A hum of surprise went about the table. Some one started applause: the effort was abortive. It was no occasion for empty courtesies. This was business! “Talks straight,” remarked Betts, of Kelter & Betts, dry goods, in a loud whisper, to his neighbor Arthur Turnbull, of the Emporium. “Bluff,” opined Turnbull. “Get up and call it,” suggested A. Friedland, proprietor of the Big Shop who had overheard. “Let Ellison do the talking,” returned Turnbull. “He’s president of our association.”