back at his hotel, though nearly two in the morning, he found the reporters waiting to interview him. next morning there were more. and thus, with blare of paper trumpet, was he received by new york. once more, with beating of toms-toms and wild hullaballoo, his picturesque figure strode across the printed sheet. the king of the klondike, the hero of the arctic, the thirty-million-dollar millionaire of the north, had come to new york. what had he come for? to trim the new yorkers as he had trimmed the tonopah crowd in nevada? wall street had best watch out, for the wild man of klondike had just come to town. or, perchance, would wall street trim him? wall street had trimmed many wild men; would this be burning daylight's fate? daylight grinned to himself, and gave out ambiguous interviews. it helped the game, and he grinned again, as he meditated that wall street would sure have to go some before it trimmed him.

they were prepared for him to play, and, when heavy buying of ward valley began, it was quickly decided that he was the operator. financial gossip buzzed and hummed. he was after the guggenhammers once more. the story of ophir was told over again and sensationalized until even daylight scarcely recognized it. still, it was all grist to his mill. the stock gamblers were clearly befooled. each day he increased his buying, and so eager were the sellers that ward valley rose but slowly. "it sure beats poker," daylight whispered gleefully to himself, as he noted the perturbation he was causing. the newspapers hazarded countless guesses and surmises, and daylight was constantly dogged by a small battalion of reporters. his own interviews were gems. discovering the delight the newspapers took in his vernacular, in his "you-alls," and "sures," and "surge-ups," he even exaggerated these particularities of speech, exploiting the phrases he had heard other frontiersmen use, and inventing occasionally a new one of his own.

a wildly exciting time was his during the week preceding thursday the eighteenth. not only was he gambling as he had never gambled before, but he was gambling at the biggest table in the world and for stakes so large that even the case-hardened habitues of that table were compelled to sit up. in spite of the unlimited selling, his persistent buying compelled ward valley steadily to rise, and as thursday approached, the situation became acute. something had to smash. how much ward valley was this klondike gambler going to buy? how much could he buy? what was the ward valley crowd doing all this time? daylight appreciated the interviews with them that appeared—interviews delightfully placid and non-committal. leon guggenhammer even hazarded the opinion that this northland croesus might possibly be making a mistake. but not that they cared, john dowsett explained. nor did they object. while in the dark regarding his intentions, of one thing they were certain; namely, that he was bulling ward valley. and they did not mind that. no matter what happened to him and his spectacular operations, ward valley was all right, and would remain all right, as firm as the rock of gibraltar. no; they had no ward valley to sell, thank you. this purely fictitious state of the market was bound shortly to pass, and ward valley was not to be induced to change the even tenor of its way by any insane stock exchange flurry. "it is purely gambling from beginning to end," were nathaniel letton's words; "and we refuse to have anything to do with it or to take notice of it in any way."

during this time daylight had several secret meetings with his partners—one with leon guggenhammer, one with john dowsett, and two with mr. howison. beyond congratulations, they really amounted to nothing; for, as he was informed, everything was going satisfactorily.

but on tuesday morning a rumor that was disconcerting came to daylight's ears. it was also published in the wall street journal, and it was to the effect, on apparently straight inside information, that on thursday, when the directors of ward valley met, instead of the customary dividend being declared, an assessment would be levied. it was the first check daylight had received. it came to him with a shock that if the thing were so he was a broken man. and it also came to him that all this colossal operating of his was being done on his own money. dowsett, guggenhammer, and letton were risking nothing. it was a panic, short-lived, it was true, but sharp enough while it lasted to make him remember holdsworthy and the brick-yard, and to impel him to cancel all buying orders while he rushed to a telephone.

"nothing in it—only a rumor," came leon guggenhammer's throaty voice in the receiver. "as you know," said nathaniel letton, "i am one of the directors, and i should certainly be aware of it were such action contemplated." and john dowsett: "i warned you against just such rumors. there is not an iota of truth in it—certainly not. i tell you on my honor as a gentleman."

heartily ashamed of himself for his temporary loss of nerve, daylight returned to his task. the cessation of buying had turned the stock exchange into a bedlam, and down all the line of stocks the bears were smashing. ward valley, as the ape, received the brunt of the shock, and was already beginning to tumble. daylight calmly doubled his buying orders. and all through tuesday and wednesday, and thursday morning, he went on buying, while ward valley rose triumphantly higher. still they sold, and still he bought, exceeding his power to buy many times over, when delivery was taken into account. what of that? on this day the double dividend would be declared, he assured himself. the pinch of delivery would be on the shorts. they would be making terms with him.

and then the thunderbolt struck. true to the rumor, ward valley levied the assessment. daylight threw up his arms. he verified the report and quit. not alone ward valley, but all securities were being hammered down by the triumphant bears. as for ward valley, daylight did not even trouble to learn if it had fetched bottom or was still tumbling. not stunned, not even bewildered, while wall street went mad, daylight withdrew from the field to think it over. after a short conference with his brokers, he proceeded to his hotel, on the way picking up the evening papers and glancing at the head-lines. burning daylight cleaned out, he read; daylight gets his; another westerner fails to find easy money. as he entered his hotel, a later edition announced the suicide of a young man, a lamb, who had followed daylight's play.

what in hell did he want to kill himself for? was daylight's muttered comment.

he passed up to his rooms, ordered a martini cocktail, took off his shoes, and sat down to think. after half an hour he roused himself to take the drink, and as he felt the liquor pass warmingly through his body, his features relaxed into a slow, deliberate, yet genuine grin. he was laughing at himself.

"buncoed, by gosh!" he muttered.

then the grin died away, and his face grew bleak and serious. leaving out his interests in the several western reclamation projects (which were still assessing heavily), he was a ruined man. but harder hit than this was his pride. he had been so easy. they had gold-bricked him, and he had nothing to show for it. the simplest farmer would have had documents, while he had nothing but a gentleman's agreement, and a verbal one at that. gentleman's agreement. he snorted over it. john dowsett's voice, just as he had heard it in the telephone receiver, sounded in his ears the words, "on my honor as a gentleman." they were sneak-thieves and swindlers, that was what they were, and they had given him the double-cross. the newspapers were right. he had come to new york to be trimmed, and messrs. dowsett, letton, and guggenhammer had done it. he was a little fish, and they had played with him ten days—ample time in which to swallow him, along with his eleven millions. of course, they had been unloading on him all the time, and now they were buying ward valley back for a song ere the market righted itself. most probably, out of his share of the swag, nathaniel letton would erect a couple of new buildings for that university of his. leon guggenhammer would buy new engines for that yacht, or a whole fleet of yachts. but what the devil dowsett would do with his whack, was beyond him—most likely start another string of banks.

and daylight sat and consumed cocktails and saw back in his life to alaska, and lived over the grim years in which he had battled for his eleven millions. for a while murder ate at his heart, and wild ideas and sketchy plans of killing his betrayers flashed through his mind. that was what that young man should have done instead of killing himself. he should have gone gunning. daylight unlocked his grip and took out his automatic pistol—a big colt's .44. he released the safety catch with his thumb, and operating the sliding outer barrel, ran the contents of the clip through the mechanism. the eight cartridges slid out in a stream. he refilled the clip, threw a cartridge into the chamber, and, with the trigger at full cock, thrust up the safety ratchet. he shoved the weapon into the side pocket of his coat, ordered another martini, and resumed his seat.

he thought steadily for an hour, but he grinned no more. lines formed in his face, and in those lines were the travail of the north, the bite of the frost, all that he had achieved and suffered—the long, unending weeks of trail, the bleak tundra shore of point barrow, the smashing ice-jam of the yukon, the battles with animals and men, the lean-dragged days of famine, the long months of stinging hell among the mosquitoes of the koyokuk, the toil of pick and shovel, the scars and mars of pack-strap and tump-line, the straight meat diet with the dogs, and all the long procession of twenty full years of toil and sweat and endeavor.

at ten o'clock he arose and pored over the city directory. then he put on his shoes, took a cab, and departed into the night. twice he changed cabs, and finally fetched up at the night office of a detective agency. he superintended the thing himself, laid down money in advance in profuse quantities, selected the six men he needed, and gave them their instructions. never, for so simple a task, had they been so well paid; for, to each, in addition to office charges, he gave a five-hundred-dollar bill, with the promise of another if he succeeded. some time next day, he was convinced, if not sooner, his three silent partners would come together. to each one two of his detectives were to be attached. time and place was all he wanted to learn.

"stop at nothing, boys," were his final instructions. "i must have this information. whatever you do, whatever happens, i'll sure see you through."

returning to his hotel, he changed cabs as before, went up to his room, and with one more cocktail for a nightcap, went to bed and to sleep. in the morning he dressed and shaved, ordered breakfast and the newspapers sent up, and waited. but he did not drink. by nine o'clock his telephone began to ring and the reports to come in. nathaniel letton was taking the train at tarrytown. john dowsett was coming down by the subway. leon guggenhammer had not stirred out yet, though he was assuredly within. and in this fashion, with a map of the city spread out before him, daylight followed the movements of his three men as they drew together. nathaniel letton was at his offices in the mutual-solander building. next arrived guggenhammer. dowsett was still in his own offices. but at eleven came the word that he also had arrived, and several minutes later daylight was in a hired motor-car and speeding for the mutual-solander building.