1200................................59

300................................59-1/4

100................................58-7/8

400................................58-1/2

250................................59

1000....... ........................58-3/8

There were dates opposite the larger numerals, but these, of course, did not enter into the computation.

Harding handed me a blank pad and resumed his study of other papers which from time to time he produced from a large black-covered folio.  It took me some time to finish this calculation, but at last my task was ended and I gave the slip to him.

“Sure that’s right, Smith?” he asked, looking at the footing.

“Your 18,450 shares of N.O. & G. stock cost you exactly $1,174,815, Mr. Harding, not including the commissions to your brokers,” I said, calmly as possible.

His big head swung quickly and he gazed at me with an expression of abject surprise.

“Well I’ll be—­well—­say, Smith, how in thunder did you get the idea into your head that those figures stood for N.O. & G. stock?” he demanded, after glancing at the slip to make sure that it contained no tell-tale initials.

“Because the dates of purchase correspond with the quotations,” I responded, enjoying his amazement and wondering to what it would lead.  “I am only guessing that you bought, but of course it’s possible you sold or went short.  Please do not imagine I’m attempting to pry into your affairs, Mr. Harding,” I added.

He sank back into his seat and for several seconds said nothing.

“Do you mind answering a few questions, Smith?” he said.

“That depends,” I smiled.  “Go ahead and ask them.”

“Have you been dealing in N.O. & G.?”

“Yes.”

“Buying or selling?”

“Buying.”

“Outright or on margin?”

“On margin.”

“How many shares have you an option on?”

I hesitated.

“Mr. Harding,” I said, “in answering that question I assume that the information is confidential and that it will not be used to my disadvantage.  Up to now it has been a secret known only to my brokers.”

“You will lose nothing by telling me,” Mr. Harding said, and I knew that promise was as good as his note at hand.

“My brokers have contracted for 45,000 shares of N.O. & G.,” I said, handing him a list of my purchases with dates, amounts, and quotations.

He studied it for a while in silence.

“I thought you did nothing but play golf,” he said.  “Tell me; how did you happen to go into a deal of this magnitude?”

I gave him the details of the conspiracy as I had discovered them.  It is not safe at this time to disclose them even in this diary.  Mr. Harding listened with growing wonder on his face.

“My boy,” he said, when I had ended, “if there is anyone in the country who should have discovered and taken advantage of the facts you have just told me, it is myself, but I never dreamed of them until you had purchased more than 30,000 shares of that stock.  These dogs think I’m in Europe!  They were told so.  They think they have sold me out, and perhaps they have.  I did not watch it as I should have done.”