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fitness will, of course, be guaranteed by the Institute's diploma. Our company is in immediate need of such a person, and will engage him at a good salary for a year, with certain prospects of advancement, if he gives satisfaction. Think it over and let me know in the morning if you have hit upon one whom you believe would meet those requirements. In the meantime please do not mention the subject to any one."

      Charged with this commission, and relieved that the dreaded interview was ended, Cabot hastened uptown to a small secret society club of which he was a non-resident member. There he wrote a note to Thorpe Walling, accepting his invitation, and expressing a readiness to set forth at once on their proposed journey. This done, he joined a group of fellows who were discussing summer plans in the reading-room.

      "What are you going in for, Grant?" asked one. "Is your summer to be devoted to work or play?"

      "Both," laughed Cabot. "Thorpe Walling and I are to take an educational trip around the world, during which we hope to have great fun and accomplish much work."

      "Ho, ho!" jeered he who had put the question. "That's a good one. The idea of coupling 'Torpid' Walling's name with anything that savors of work. You'll have a good time fast enough. But I'll wager anything you like, that in his company you will circumnavigate the globe without having done any work harder than spending money. No, no, my dear boy, 'Torpid' is not the chap to encourage either mental or physical effort in his associates. Better hunt some other companion, or even go by your lonely, if you really want to accomplish anything."

      These words recurred to our lad many times during the day, and when he finally fell asleep that night, after fruitlessly wondering who of his many friends he should recommend to President Hepburn, they were still ringing in his ears.

      CHAPTER II.

      AN OFFER OF EMPLOYMENT

      Thorpe Walling had never been one of Cabot Grant's particular friends, nor did the latter now regard with unmixed pleasure the idea of a year's intimate association with him. He had accepted the latter's invitation because nothing else seemed likely to offer, and he could not bear to have the other fellows, especially those whose class standing had secured them positions, imagine that he was not also in demand. Besides, the thought of a trip around the world was certainly very enticing; any opposition to the plan would have rendered him the more desirous of carrying it out. But in his interview with his guardian he had gained his point so easily that the concession immediately lost half its value. Even as he wrote his note to Thorpe he wondered if he really wanted to go with him, and after that conversation in the club reading-room he was almost certain that he did not. If Mr. Hepburn had only offered him employment, how gladly he would have accepted it and declined Thorpe's invitation; but his guardian had merely asked him to recommend some one else.

      "Which shows," thought Cabot bitterly, "what he thinks of me, and of my fitness for any position of importance. He is right, too, for if ever a fellow threw away opportunities, I have done so during the past four years. And now I am deliberately going to spend another, squandering my last dollar, in company with a chap who will have no further use for me when it is gone. It really begins to look as though I were about the biggest fool of my acquaintance."

      It was in this frame of mind that our young engineer made a second visit to his guardian's office on the following morning. There he was received by Mr. Hepburn with the same business-like abruptness that had marked their interview of the day before.

      "Good-morning, Cabot," he said. "I see you are promptly on hand, and, I suppose, anxious to be off. Well, I don't blame you, for a pleasure trip around the world isn't offered to every young fellow, and I wish I were in a position to take such a one myself. I have had prepared a letter of credit for the balance of your property remaining in our hands, and while it probably is not as large a sum as your friend Walling will carry, it is enough to see you through very comfortably, if you exercise a reasonable economy. I have also written letters of introduction to our agents in several foreign cities that may prove useful. Let me hear from you occasionally, and I trust you will have fully as good a time as you anticipate."

      "Thank you, sir," said Cabot. "You are very kind."

      "Not at all. I am only striving to carry out your father's instructions, and do what he paid to have done. Now, how about the young man you were to recommend? Have you thought of one?"

      "No, sir, I haven't. You see, all the fellows who graduated with honours found places waiting for them, and as I knew you would only want one of the best, I can't think of one whom I can recommend for your purpose. I am very sorry, but–"

      "I fear I did not make our requirements quite clear," interrupted Mr. Hepburn, "since I did not mean to convey the impression that we would employ none but an honour man. It often happens that he who ranks highest as a student fails of success in the business world; and under certain conditions I would employ the man who graduated lowest in his class rather than him who stood at its head."

      Cabot's face expressed his amazement at this statement, and noting it, Mr. Hepburn smiled as he continued:

      "The mere fact that a young man has graduated from your Institute, even though it be with low rank, insures his possession of technical knowledge sufficient for our purpose. If, at the same time, he is a gentleman endowed with the faculty of making friends, as well as an athlete willing to meet and able to overcome physical difficulties, I would employ him in preference to a more studious person who lacked any of these qualifications. If you, for instance, had not already decided upon a plan for spending the ensuing year, I should not hesitate to offer you the position we desire to fill."

      Cabot trembled with excitement. "I—Mr. Hepburn!" he exclaimed. "Would you really have offered it to me?"

      "Certainly I would. I desired you to meet me here for that very purpose; but when I found you had made other arrangements that might prove equally advantageous, I believed I was meeting your father's wishes by helping you carry them out."

      "Is the place still open, and can I have it?" asked Cabot eagerly.

      "Not if you are going around the world; for, although the duties of the position will include a certain amount of travel, it will not be in that direction."

      "But I don't want to go around the world, and would rather take the position you have to offer than do anything else I know of," declared Cabot.

      "Without knowing its requirements, what hardships it may present, nor in what direction it may lead you?" inquired the other.

      "Yes, sir. So long as you offer it I would accept it without question, even though it should be a commission to discover the North Pole."

      "My dear boy," said Mr. Hepburn, in an entirely different tone from that he had hitherto used, "I trust I may never forfeit nor abuse the confidence implied by these words. Although you did not know it, I have carefully watched every step of your career during the past five years, and while you have done some things, as well as developed some traits, that are to be regretted, I am satisfied that you are at least worthy of a trial in the position we desire to fill. So, if you are willing to relinquish your proposed trip around the world, and enter the employ of this company instead, you may consider yourself engaged for the term of one year from this date. During that time all your legitimate expenses will be met, but no salary will be paid you until the expiration of the year, when its amount will be determined by the value of the services you have rendered. Is that satisfactory?"

      "It is, sir," replied Cabot, "and with your permission I will at once telegraph Thorpe Walling that I cannot go with him."

      "Write your despatch here and I will have it sent out. At the same time, do not mention that you have entered the employ of this company, as there are reasons why, for the present at least, that should remain a secret."

      When Cabot's telegram was ready, Mr. Hepburn, who had been glancing through a number of letters that awaited his signature, handed it to his secretary, to whom he also gave some instructions that Cabot did not catch. As the former left the room, the president turned to our young engineer and said:

      "As perhaps you are aware, Cabot, there is at present an unprecedented demand all over the world for both iron and copper, and our company is largely interested in the production of these metals. As existing sources of supply are inadequate

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