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there？ Why way out there？〃
〃It's cheap；〃 replied Orde succinctly。 〃I don't say it will be good
for immediate returns； nor even for returns in the near future； but
in twenty or thirty years it ought to pay big on a small investment
made now。〃
Taylor shook his head doubtfully。
〃I don't see how you figure it；〃 he objected。 〃We have more timber
than we can use in the East。 Why should we go several thousand
miles west for the same thing？〃
〃When our timber gives out； then we'll HAVE to go west；〃 said Orde。
Taylor laughed。
〃Laugh all you please；〃 rejoined Orde； 〃but I tell you Michigan and
Wisconsin pine is doomed。 Twenty or thirty years from now there
won't be any white pine for sale。〃
〃Nonsense！〃 objected Taylor。 〃You're talking wild。 We haven't even
begun on the upper peninsula。 After that there's Minnesota。 And I
haven't observed that we're quite out of timber on the river； or the
Muskegon； or the Saginaw； or the Grand； or the Cheboyganwhy； Great
Scott！ man； our children's children's children may be thinking of
investing in California timber； but that's about soon enough。〃
〃All tight；〃 said Orde quietly。 〃Well； what do you think of Indiana
as a good field for timber investment？〃
〃Indiana！〃 cried Taylor； amazed。 〃Why； there's no timber there；
it's a prairie。〃
〃There used to be。 And all the southern Michigan farm belt was
timbered； and around here。 We have our stumps to show for it； but
there are no evidences at all farther south。 You'd have hard work；
for instance； to persuade a stranger that Van Buren County was once
forest。〃
〃Was it？〃 asked Taylor doubtfully。
〃It was。 You take your map and see how much area has been cut
already； and how much remains。 That'll open your eyes。 And
remember all that has been done by crude methods for a relatively
small demand。 The demand increases as the country grows and methods
improve。 It would not surprise me if some day thirty or forty
millions would constitute an average cut。* 'Michigan pine
exhaustless！'those fellows make me sick！〃
* At the present day some firms cut as high as 150；000；000 feet。
〃Sounds a little more reasonable；〃 said Taylor slowly。
〃It'll sound a lot more reasonable in five or ten years；〃 insisted
Orde； 〃and then you'll see the big men rushing out into that Oregon
and California country。 But now a man can get practically the pick
of the coast。 There are only a few big concerns out there。〃
〃Why is it that no one〃
〃Because；〃 Orde cut him short； 〃the big things are for the fellow
who can see far enough ahead。〃
〃What kind of a proposition have you？〃 asked Taylor after a pause。
〃I can get ten thousand acres at an average price of eight dollars
an acre；〃 replied Orde。
〃Acres？ What does that mean in timber？〃
〃On this particular tract it means about four hundred million feet。〃
〃That's about twenty cents a thousand。〃
Orde nodded。
〃And of course you couldn't operate for a long time？〃
〃Not for twenty； maybe thirty； years；〃 replied Orde calmly。
〃There's your interest on your money； and taxes； and the risk of
fire and〃
〃Of course； of course；〃 agreed Orde impatiently； 〃but you're getting
your stumpage for twenty cents or a little more； and in thirty years
it will be worth as high as a dollar and a half。〃 *
* At the present time （1908） sugar pine such as Orde described would
cost 3。50 to 4。
〃What！〃 cried Taylor。
〃That is my opinion；〃 said Orde。
Taylor relapsed into thought。
〃Look here； Orde；〃 he broke cut finally； 〃how old are you？〃
〃Thirty…eight。 Why？〃
〃How much timber have you in Michigan？〃
〃About ten million that we've picked up on the river since the Daly
purchase and three hundred million in the northern peninsula。〃
〃Which will take you twenty years to cut； and make you a million
dollars or so？〃
〃Hope
so。〃
〃Then why this investment thirty years ahead？〃
〃It's for Bobby；〃 explained Orde simply。 〃A man likes to have his
son continue on in his business。 I can't do it here； but there I
can。 It would take fifty years to cut that pine； and that will give
Bobby a steady income and a steady business。〃
〃Bobby will be well enough off； anyway。 He won't have to go into
business。〃
Orde's brow puckered。
〃I know a manBobby is going to work。 A man is not a success in
life unless he does something； and Bobby is going to be a success。
Why； Taylor；〃 he chuckled； 〃the little rascal fills the wood…box for
a cent a time； and that's all the pocket…money he gets。 He's saving
now to buy a thousand…dollar boat。 I've agreed to pool in half。 At
his present rate of income； I'm safe for about sixty years yet。〃
〃How soon are you going to close this deal？〃 asked Taylor； rising as
he caught sight of two figures coming up the walk。
〃I have an option until November 1；〃 replied Orde。 〃If you can't
make it； I guess I can swing it myself。 By the way； keep this
dark。〃
Taylor nodded； and the two turned to defend themselves as best they
could against Clara's laughing attack。
XXXI
Orde had said nothing to Newmark concerning this purposed new
investment； nor did he intend doing so。
〃It is for Bobby；〃 he told himself； 〃and I want Bobby； and no one
else； to run it。 Joe would want to take charge； naturally。 Taylor
won't。 He knows nothing of the business。〃
He walked downtown next morning busily formulating his scheme。 At
the office he found Newmark already seated at his desk； a pile of
letters in front of him。 Upon Orde's boisterous greeting his nerves
crisped slightly； but of this there was no outward sign beyond a
tightening of his hands on the letter he was reading。 Behind his
eye…glasses his blue； cynical eyes twinkled like frost crystals。 As
always； he was immaculately dressed in neat gray clothes； and
carried in one corner of his mouth an unlighted cigar。
〃Joe；〃 said Orde； spinning a chair to Newmark's roll…top desk and
speaking in a low tone； 〃just how do we stand on that upper
peninsula stumpage？〃
〃What do you mean？ How much of it is there？ You know that as well
as I doabout three hundred million。〃
〃No； I mean financially。〃
〃We've made two payments of seventy…five thousand each； and have
still two to make of the same amount。〃
〃What could we borrow on it？〃
〃We don't want to borrow anything on it；〃 returned Newmark in a
flash。
〃Perhaps not； but if we should？〃
〃We might raise fifty or seventy…five thousand； I suppose。〃
〃Joe；〃 said Orde； 〃I want to raise about seventy…five thousand
dollars on my share in this concern； if it can be done。〃
〃What's up？〃 inquired Newmark keenly。
〃It's a private matter。〃
Newmark said nothing； but for some time thought busily； his light
blue eyes narro