As though reading his thoughts, Carroll said, with a laugh: “I suppose you’re wondering how I managed to raise the necessary dough to acquire this progressive, aggressive, and fearlessly independent sheet? No need to tell you that I didn’t save it out of the measly wages the Sentinel paid me. The fact is, Hawley, I came into a little change after I got fired from the _Sentinel_ for getting them into that confounded libel suit. A wealthy relative of mine over in England cashed in his chips, and mentioned me in his will to the extent of fifteen thousand. I was tipped off that this paper was on the market, and could be had at that figure, so I came here and bought it. There’s the whole story in a nutshell--or pretty near the whole story.” Hawley doubted no longer. He could see now that Carroll wasn’t joking, and he had never known him to be guilty of falsehood. “I’m tickled to death to hear this good news, old chap,” he said, grabbing his friend’s hand enthusiastically. “Let me offer you my congratulations, even though they’re tardy. You certainly are a lucky fellow.” A wry smile came to Carroll’s face. “Not quite as lucky as you imagine,” he said grimly. “Better take back your congratulations, Hawley. It is true that I’m the owner of a newspaper now, but--you’re likely to meet me on Park Row hunting for a job in the very near future.” “Why, what’s the matter?” the Camera Chap inquired solicitously. “You don’t mean to say that the paper isn’t a success, old man?” Carroll shrugged his broad shoulders. “When I tell you that I had to hock my watch yesterday in order to pay my board bill, you will doubtless gather that the Oldham _Daily Bulletin_ isn’t exactly a gold mine,” he replied dryly. “Ye gods!” exclaimed Hawley. “And I always had an idea that newspaper owners were bloated plutocrats.” “Some are,” was the grim reply. “But I guess I’m far from being the only New York newspaper man who has tried to run a small town daily and made a fizzle of it.” “What seems to be the main trouble?” the Camera Chap inquired. “I should think that a paper with a motto like yours was bound to be a winner. Progressive, aggressive, and fearlessly independent--that’s a mighty fine catch line, Fred. The population of Oldham certainly ought to rally to the support of a sheet which has such an attractive policy.” The owner of the _Bulletin_ shook his head. “Yes, they ought to--but they don’t. The fact is, Hawley, that, from the standpoint of dollars and cents, being aggressive and fearlessly independent in a town like this doesn’t pay. The first thing I did after acquiring control of the _Bulletin_,” he went on, with a frown, “was to declare war against the city government. From a financial standpoint, that was a disastrous mistake.” “Why did you do it?” the Camera Chap inquired.