"Queen of the South, Queen of the West, Pelican, Crescent City, Palmetto, Union, Father of Waters, Red River, Gulf State, and Massachusetts," repeated Carter, with a pause of recollection before each title. The broker laughed. "I used to own three of them. I know them all, except the Massachusetts, which is a northern boat. All in running order?" "Yes. Dirty, of course." "Very well. Now permit me to make out a complete programme of the transaction. The boats are recommended for the action of an Inspector. I see to it that he receives sufficient evidence to prove their unserviceable condition. It is ordered that they be sold at public auction. I provide the persons who are to be present at the auction. These men--my agents--will purchase the boats at a net cost of one hundred thousand dollars, for which they will give my notes payable a month from date. Within the month I am supposed to refit the boats and make them serviceable, while the Government is certain to need them back again. I then sell them to you--the purchasing agent of the Government--for a net sum of at least two hundred and fifty thousand dollars. I receive my notes back, and also a cash balance of one hundred and thirty thousand dollars, of which I only take thirty thousand, leaving the rest in your hands under a mutual pledge of confidence. I desire to make one final suggestion, which I consider of great importance. It would be well if the boats, when re-bought, should accidentally take fire and be destroyed, as it would prevent inspection as to the amount which I might have expended in repairs. Colonel, is that perfectly to your satisfaction?" The unfortunate, unhappy, degraded officer and gentleman could only reply, "Yes." Such is the supposed secret history of this scandalous stroke of business. It is only certain that the boats were inspected and condemned; that at an auction, attended by a limited number of respectably dressed persons, they were sold for sums varying from seven to fifteen thousand dollars; that the amounts were all paid in the notes of L. M. Hollister, a well-known broker, and capitalist of supposed secession proclivities; that within a month the transports were repurchased by the Government at sums varying from fifteen to thirty thousand dollars; that thus a net profit of one hundred and fifty thousand dollars accrued to the said Hollister; and that three days after the sale the boats caught fire and burned to the water's edge. Of course there was talk, perhaps unjustifiable; suspicions, which perhaps had no foundation in fact. But there was no investigation, possibly no serious cause for it, probably no chance for it.