“Every newspaper does it,” grumbled Shearson.  “And the public knows it.”

“Doubted.  The public knows that newspapers make mistakes and do a lot of exaggerating and sensationalizing.  But you once get it into their heads that a certain newspaper is concealing and suppressing news, and see how long that paper will last.  The circulation will drop and the very men like Pierce will be the first to withdraw their advertising patronage.  Your keen advertiser doesn’t waste time fishing in dead pools.  So even as a matter of policy the straight way may be the best, in the long run.  Whether it is or not, get this firmly into your mind, Mr. Shearson.  From now on the first consideration of the ‘Clarion’ will be news and not advertising.”

“Then, good-night ‘Clarion,’” pronounced Shearson with entire solemnity.

“Is that your resignation, Mr. Shearson?”

“Do you want me to quit?”

“No; I don’t.  I believe you’re an efficient man, if you can adjust yourself to new conditions.  Do you think you can?”

“Well, I ain’t much on the high-brow stuff, Mr. Surtaine, but I can take orders, I guess.  I’m used to the old ‘Clarion,’ and I kinda like you, even if we don’t agree.  Maybe this virtuous jag’ll get us some business for what it loses us.  But, say, Mr. Surtaine, you ain’t going to get virtuous in your advertising columns, too, are you?”

“I hadn’t considered it,” said Hal.  “One of these days I’ll look into it.”

“For God’s sake, don’t!” pleaded Shearson, with such a shaken flabbiness of vehemence that both Hal and Ellis laughed, though the former felt an uneasy puzzlement.

The article and editorial on the Pierce accident had appeared in a Thursday’s “Clarion.”  In their issues of the following day, the other morning papers dealt with the subject most delicately.  The “Banner” published, without obvious occasion, a long and rather fulsome editorial on E.M.  Pierce as a model of high-minded commercial emprise and an exemplar for youth:  also, on the same page in its “Pointed Paragraphs,” the following, with a point quite too palpably aimed:—­

“It is said, on plausible if not direct authority, that one of our morning contemporaries will appropriately alter its motto to read, ’With Malice toward All:  with Charity for None.’”

But it remained for that evening’s “Telegram” to bring up the heavy guns.  From its first edition these headlines stood out, black and bold:—­

E.M.  PIERCE DEFENDS DAUGHTER

* * * * *

MAGNATE INCENSED AT UNJUST ATTACKS
WILL PUSH CASE AGAINST HER
TRADUCERS TO A FINISH

There followed an interview in which the great man announced his intention of bringing both civil and criminal action for libel against the “Clarion.”  McGuire Ellis frowned savagely at the sheet.

“Dirty skunk!” he growled.

“Meaning our friend Pierce?” queried Hal.