Vane, who was aware that Winter was a person of some importance in financial circles, remained silent for a couple of minutes. "Now," he said, at length, "every dollar we have in the Clermont is usefully employed and earning a satisfactory profit. Of course, if we put the concern on the market, we might get more than it is worth from investors; but that doesn't greatly appeal to me." "It's unnecessary to point out that a director's interest is no invariably the same as that of his shareholders," Nairn rejoined. "It's an unfortunate fact. But I'd be no better off if I only got the same actual return on a larger amount of what would be watered stock." "There's sense in that. I'm no urging the scheme--there are other points against it," answered Nairn. "Well," said Vane, "I'll go up and look round the mine and then we'll have another talk about the matter." They changed the subject, but Vane walked back to his hotel in a thoughtful frame of mind, and finding Carroll in the smoking-room related his conversation with Nairn. "I'm a little troubled about the situation," he concluded. "The Clermont finances are now on a sound basis, but it might after all prove advantageous to raise further capital, and in such a case we would, perhaps, lie open to attack. Nairn's inclined to be cryptic in his remarks; but he seems to hint that it would be advisable to make Horsfield some concession--in other words, to buy him off." "Which is a course you have objections to?" "Yes," said Vane, "very decided ones." "I think that, in a general way, Nairn's advice is sensible. Where mining and other schemes are floated, there are men who make a good living out of the operations. They're trained to the business; they've control of the dollars; and when a new thing's put on the market, they consider they've the first claim on the pickings." "You needn't elaborate the point," Vane broke in impatiently. "You made your appearance in this city as a poor and unknown man with a mine to sell," Carroll went on. "Disregarding tactful hints, you laid down your terms and stuck to them. Launching your venture without considering their views, you did the gentlemen I've mentioned out of their accustomed toll, and I've no doubt that some of them were indignant. It's a thing you wouldn't expect them to sanction. Now, however, one who has probably others behind him is making overtures to you. You ought to consider it a compliment; a recognition of ability. The question is--Do you mean to slight these advances and go on as you have begun?" "That's my present intention," Vane answered. "Then you needn't be astonished if you find yourself up against a determined opposition by and by," said Carroll. "I think my friends will stand by me." Vane looked at him steadily.