"But our tally sheets for the three previous years show a strange discrepancy with our present bunch; we are shy about five hundred head of cows, and our increase has fallen off unaccountably. And in this year's round-up I noticed a great many motherless calves and yearlings in the O Bar O brand. As a matter of curiosity I took a chance and killed a few of them, and here are the hides." He walked over to his bunk and took from underneath it three partly dried skins which he spread flesh side uppermost on the floor. To their experienced eyes it was plainly evident that the animals had been rebranded, the differently healed scars showing very plainly that the brands were originally C-- afterwards altered to O-O. "Every man in this room knows what this means; and every man also is aware that Mr. Matlock and Mr. Coogan always have been on terms of closest intimacy, it being the general impression that they are partners in several enterprises. Now, boys, I respect a man who keeps his own counsel at all times, and I am aware that when a fellow wants to know anything he is expected to find it out for himself. Well, I have been finding out enough to warrant my keeping you men on this job. I am sure that you are all right. But the fellows I let out this fall won't come back. I am going to see that there are a few more C Bar calves on the range this year, and a few less O Bar O's. If I had been reasonably sure of my premises before, the thing would have been straightened up long ago; but as I am going to acquire the O Bar O brand myself in a few days, it won't make any difference, as we will vent the brand and put the cattle under it back where they belong, in the C Bar." "One thing more," he continued dispassionately; "I expect every man who works for this outfit to play the limit in his employer's interest. I have set aside two thousand dollars out of our last sales to be used to defend any man who finds it necessary to shoot up a few of the skunks that are looting this range. I believe that you are all dependable men, and your wages will be raised twenty-five per cent, after the first of the month. McVey will act as assistant foreman, and you will take orders from him. I think that's all," he said with a yawn, "except that Red and I are going to Gunnison in the morning. You fellows keep tabs till we get back; we'll be gone about five or six days." He filled his pipe, a sure indication that he contemplated an extended stroll, and scooped up a hot coal from the fireplace; at the door he turned for a final word: "We will take those hides with us." After he had gone the men sat for a long time in silence. Then Holy swore enthusiastically: "By Gawd! fellers, that's a man!" Woolly felt of his swollen jaw tenderly and turned in pretended amazement: "Why, was yuh thinkin' he was a woman?" Punk ceased operations on his cigarette and stared meditatively into the fire. "Wonder haow he's goin' to ack-kwire that brand? Trade those hides fer it, mebbe."