For two voyages all went well.  The Tillicum was engaged in carrying general cargo to Panama for reshipment over the Panama Railroad to Colon, at which point it was reshipped in steamers to ports along the Atlantic seaboard.  Following the universal custom, Matt’s charter with Morrow & Company stipulated settlement in full every thirty days, whereas his charter with Cappy Ricks, for reasons best known to Cappy, stipulated payment in full every fifteen days; which arrangement operated to keep nine thousand dollars of Matt’s money in Cappy’s hands continuously.  This fact graveled Matt whenever he reflected that money was worth at least seven per cent.; but, since he was making sixty dollars a day profit as the result of his deal, he concluded not to mention this point to Cappy Ricks.

Morrow & Company met the first monthly payment with cash on the nail.  At the second settlement, however, when Matt called for his check, Kelton requested, as a special favor, that Matt allow him four days’ time.  A clever talker, with a peculiarly winning way about him, he disarmed suspicion very readily, and Matt assured him he would be very glad indeed to extend him such a slight courtesy.

Meantime, however, Cappy Ricks had to be reckoned with; so, in order not to keep him waiting, Matt sent him another check for nine thousand dollars.  Cappy now had eighteen thousand dollars of Matt’s money; and on the fourth day, when the latter called on Kelton for his check, the latter actually made him feel ashamed of himself for calling and sent him away with one-half of the sum now overdue!  This perturbed Matt somewhat, but when he showed some slight indication of it Kelton playfully picked up a glass paper weight and threatened to destroy him if he did not get out of the office at once; so, because it is difficult to be serious with a man who declines to take one seriously, Matt forced a grin and departed, with the light intimation that he would return in three days, and if the check was not forthcoming then he would fresco Kelton’s office with the latter’s life-blood.

“Get out!” shouted Kelton laughingly.  “I know money is tight and I don’t blame you for being Fido-at-the-rat-hole; but if you bother me about that check for a week I’ll not speak to you.”

So Matt waited a week, and then the check reached him by mail, with a courteous note from Kelton thanking him for his leniency.  It seemed to Matt he had scarcely acknowledged the receipt of that check before he had to give Cappy Ricks another nine thousand dollars!

Morrow & Company were late again on the third month, but this time they did not wait to be dunned.  On the day before the payment was due Kelton took Matt Peasley to luncheon and in the course of the meal he informed Matt, quite casually, that he would be a little late with his check.  With two dollars’ worth of his genial host’s food under his belt, Matt felt that it would be rude, to say the least, if he insisted on settlement; so he said: