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of America, but I think you will find that unless a deposit is made, your instrument would be invalid in a court of law. There must be value received, I believe, when a bargain is made.”

      “All right,” said Sterling, “but I’ll give you back your money if you regret the deal.”

      He went to a desk in the corner, and wrote out the agreement, in which he acknowledged the receipt of five hundred dollars. Stranleigh selected from his wallet five bills for a hundred dollars each, and handed them over, then bidding farewell to the engineer, walked to his hotel, followed at a discreet distance by Mr. Wentworth Parkes.

      Having located his quarry, Parkes retraced his steps to Woodbridge Street, deep in thought. His first resolution was to try bluster, but he abandoned that idea for two reasons, each conclusive in its way. His slight acquaintance with the engineer had convinced him that while much could be done with Sterling by persuasion, he would not yield to force, and secondly, the motor builder had no money. Whatever gold he was to acquire in his deal must come from Lord Stranleigh. It was, therefore, a mild and innocent lamb of a man who entered the machine shop of Woodbridge Street.

      “Hello!” cried Sterling, who seemed taken aback by the encounter. “What have you done with my automobile, and why did you not answer my letters?”

      “Your automobile is here in Detroit; a little the worse for wear, perhaps, but there is nothing wrong with it that you cannot put right in short order. As for letters, I never received any. I thought I had notified you of my changed address.”

      “As a matter of fact, you didn’t.”

      “In that case, I apologise most humbly. The truth is, Mr. Sterling, I have been working practically night and day, often under very discouraging circumstances. Until quite recently there was nothing hopeful to tell, and the moment I struck a bit of good luck, I came on here in the car to let you know. You see, it was very difficult to interest capital in a proposition that apparently has no substantiality behind it. If you had possessed a big factory in going order, that I could have shown a man over, the company would have been formed long ago. It therefore surprised me exceedingly, when I passed your shop less than a hour ago, to see standing in this window, while you were explaining the car to him, the man on whom I chiefly depended. You must put it down to my credit that instead of coming in as I had intended, thus embarrassing him, and perhaps spoiling a deal by my interference, I passed on, waited until he came out, and followed him to his hotel.”

      Sterling was plainly nonplussed.

      “I wish you had come in an hour earlier,” he said. “You couldn’t have interfered with a deal, because your option ran out two months ago.”

      “I know that,” said Parkes regretfully, “but I thought the good work on my part would have made up for a legal lapse. Indeed, Mr. Sterling, if you will allow me to say so, I had such supreme faith in your own honesty, that I believed you would not hesitate to renew our arrangement.”

      “That’s just the point,” said Sterling. “Had you come in an hour sooner, you would have been in time. As it is, I have granted a new option to the man you saw here with me.”

      “What name did he give you? Trevelyan?”

      “No; the name he mentioned was Henry Johnson.”

      Parkes laughed a little, then checked himself.

      “He went under the name of Trevelyan in New York, but I know neither that nor Johnson is his true title. Well, is he going in with you, then?”

      “He has asked for a week to decide.”

      Now Parkes laughed more heartily.

      “I took him out in your motor in New York, and there also he asked for a week in which to decide. He seems to have taken the opportunity to come West, and try to forestall me.”

      “Oh, I don’t believe he’s that sort of man,” cried Sterling, impatiently.

      “Perhaps I do him an injustice. I sincerely hope so. Of course you’re not compelled to show your hand, but I think, in the circumstances, you might let me know just how far you’ve got.”

      “Yes, I think you are entitled to that. I remember I was rather astonished when I learned he knew I had given a former option, but I shall be very much disappointed if he doesn’t run straight. Still, I have been mistaken in men before. He took an option for a week, and paid me five hundred dollars down in cash, to be forfeited if he does not exercise it.”

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