At this point the colonel was interrupted, and his attention was called to the fact that the reports showed an increase of expenditure for supplies and for wages, and on the other hand a falling off in the revenue from the stores. But the colonel passed over these points as insignificant. “It is clear,” he proceeded, “that the cause of failure does not lie in the management, but in the state of the market. The political situation in that country is very doubtful, and this has an exceedingly depressing effect upon business.” “Then,” interrupted a share-holder, “it is time the company should withdraw from that country and confine itself to a district where the market is sure and the future more stable.” “What about these fads, Colonel?” asked another share-holder; “these reading-rooms, libraries, etc? Do you think we pay a man to establish that sort of thing? To my mind they simply put a lot of nonsense into the heads of the working-men and are the chief cause of dissatisfaction.” Upon this point the colonel did not feel competent to reply; consequently the feeling of the meeting became decidedly hostile to the present manager, and a resolution was offered demanding his resignation. It was also agreed that the board of directors should consider the advisability of withdrawing altogether from British Columbia, inasmuch as the future of that country seemed to be very uncertain. Thereupon Colonel Thorp rose and begged leave to withdraw his name from the directorate of the company. He thought it was unwise to abandon a country where they had spent large sums of money, without a thorough investigation of the situation, and he further desired to enter his protest against the injustice of making their manager suffer for a failure for which he had in no way been shown to be responsible. But the share-holders refused to even consider Colonel Thorp's request, and both the president and secretary exhausted their eloquence in eulogizing his value to the company. As a compromise it was finally decided to continue operations in British Columbia for another season. Colonel Thorp declared that the reforms and reorganization schemes inaugurated by Ranald would result in great reductions in the cost of production, and that Ranald should be given opportunity to demonstrate the success or failure of his plans; and further, the political situation doubtless would be more settled. The wisdom of this decision was manifested later. The spirit of unrest and dissatisfaction appeared again at the next annual meeting, for while conditions were improving, dividends were not yet forthcoming. Once again Colonel Thorp successfully championed Ranald's cause, this time insisting that a further test of two seasons be made, prophesying that not only would the present deficit disappear, but that their patience and confidence would be amply rewarded.