back in san francisco, daylight quickly added to his reputation in ways it was not an enviable reputation. men were afraid of him. he became known as a fighter, a fiend, a tiger. his play was a ripping and smashing one, and no one knew where or how his next blow would fall. the element of surprise was large. he balked on the unexpected, and, fresh from the wild north, his mind not operating in stereotyped channels, he was able in unusual degree to devise new tricks and stratagems. and once he won the advantage, he pressed it remorselessly. "as relentless as a red indian," was said of him, and it was said truly.

on the other hand, he was known as "square." his word was as good as his bond, and this despite the fact that he accepted nobody's word. he always shied at propositions based on gentlemen's agreements, and a man who ventured his honor as a gentleman, in dealing with daylight, inevitably was treated to an unpleasant time. daylight never gave his own word unless he held the whip-hand. it was a case with the other fellow taking it or nothing.

legitimate investment had no place in daylight's play. it tied up his money, and reduced the element of risk. it was the gambling side of business that fascinated him, and to play in his slashing manner required that his money must be ready to hand. it was never tied up save for short intervals, for he was principally engaged in turning it over and over, raiding here, there, and everywhere, a veritable pirate of the financial main. a five-per cent safe investment had no attraction for him; but to risk millions in sharp, harsh skirmish, standing to lose everything or to win fifty or a hundred per cent, was the savor of life to him. he played according to the rules of the game, but he played mercilessly. when he got a man or a corporation down and they squealed, he gouged no less hard. appeals for financial mercy fell on deaf ears. he was a free lance, and had no friendly business associations. such alliances as were formed from time to time were purely affairs of expediency, and he regarded his allies as men who would give him the double-cross or ruin him if a profitable chance presented. in spite of this point of view, he was faithful to his allies. but he was faithful just as long as they were and no longer. the treason had to come from them, and then it was 'ware daylight.

the business men and financiers of the pacific coast never forgot the lesson of charles klinkner and the california & altamont trust company. klinkner was the president. in partnership with daylight, the pair raided the san jose interurban. the powerful lake power & electric lighting corporation came to the rescue, and klinkner, seeing what he thought was the opportunity, went over to the enemy in the thick of the pitched battle. daylight lost three millions before he was done with it, and before he was done with it he saw the california & altamont trust company hopelessly wrecked, and charles klinkner a suicide in a felon's cell. not only did daylight lose his grip on san jose interurban, but in the crash of his battle front he lost heavily all along the line. it was conceded by those competent to judge that he could have compromised and saved much. but, instead, he deliberately threw up the battle with san jose interurban and lake power, and, apparently defeated, with napoleonic suddenness struck at klinkner. it was the last unexpected thing klinkner would have dreamed of, and daylight knew it. he knew, further, that the california & altamont trust company has an intrinsically sound institution, but that just then it was in a precarious condition due to klinkner's speculations with its money. he knew, also, that in a few months the trust company would be more firmly on its feet than ever, thanks to those same speculations, and that if he were to strike he must strike immediately. "it's just that much money in pocket and a whole lot more," he was reported to have said in connection with his heavy losses. "it's just so much insurance against the future. henceforth, men who go in with me on deals will think twice before they try to double-cross me, and then some."

the reason for his savageness was that he despised the men with whom he played. he had a conviction that not one in a hundred of them was intrinsically square; and as for the square ones, he prophesied that, playing in a crooked game, they were sure to lose and in the long run go broke. his new york experience had opened his eyes. he tore the veils of illusion from the business game, and saw its nakedness. he generalized upon industry and society somewhat as follows:—

society, as organized, was a vast bunco game. there were many hereditary inefficients—men and women who were not weak enough to be confined in feeble-minded homes, but who were not strong enough to be ought else than hewers of wood and drawers of water.

then there were the fools who took the organized bunco game seriously, honoring and respecting it. they were easy game for the others, who saw clearly and knew the bunco game for what it was.

work, legitimate work, was the source of all wealth. that was to say, whether it was a sack of potatoes, a grand piano, or a seven-passenger touring car, it came into being only by the performance of work. where the bunco came in was in the distribution of these things after labor had created them. he failed to see the horny-handed sons of toil enjoying grand pianos or riding in automobiles. how this came about was explained by the bunco. by tens of thousands and hundreds of thousands men sat up nights and schemed how they could get between the workers and the things the workers produced. these schemers were the business men. when they got between the worker and his product, they took a whack out of it for themselves the size of the whack was determined by no rule of equity; but by their own strength and swinishness. it was always a case of "all the traffic can bear." he saw all men in the business game doing this.

one day, in a mellow mood (induced by a string of cocktails and a hearty lunch), he started a conversation with jones, the elevator boy. jones was a slender, mop-headed, man-grown, truculent flame of an individual who seemed to go out of his way to insult his passengers. it was this that attracted daylight's interest, and he was not long in finding out what was the matter with jones. he was a proletarian, according to his own aggressive classification, and he had wanted to write for a living. failing to win with the magazines, and compelled to find himself in food and shelter, he had gone to the little valley of petacha, not a hundred miles from los angeles. here, toiling in the day-time, he planned to write and study at night. but the railroad charged all the traffic would bear. petacha was a desert valley, and produced only three things: cattle, fire-wood, and charcoal. for freight to los angeles on a carload of cattle the railroad charged eight dollars. this, jones explained, was due to the fact that the cattle had legs and could be driven to los angeles at a cost equivalent to the charge per car load. but firewood had no legs, and the railroad charged just precisely twenty-four dollars a carload.

this was a fine adjustment, for by working hammer-and-tongs through a twelve-hour day, after freight had been deducted from the selling price of the wood in los angeles, the wood-chopper received one dollar and sixty cents. jones had thought to get ahead of the game by turning his wood into charcoal. his estimates were satisfactory. but the railroad also made estimates. it issued a rate of forty-two dollars a car on charcoal. at the end of three months, jones went over his figures, and found that he was still making one dollar and sixty cents a day.

"so i quit," jones concluded. "i went hobbling for a year, and i got back at the railroads. leaving out the little things, i came across the sierras in the summer and touched a match to the snow-sheds. they only had a little thirty-thousand-dollar fire. i guess that squared up all balances due on petacha."

"son, ain't you afraid to be turning loose such information?" daylight gravely demanded.

"not on your life," quoth jones. "they can't prove it. you could say i said so, and i could say i didn't say so, and a hell of a lot that evidence would amount to with a jury."

daylight went into his office and meditated awhile. that was it: all the traffic would bear. from top to bottom, that was the rule of the game; and what kept the game going was the fact that a sucker was born every minute. if a jones were born every minute, the game wouldn't last very long. lucky for the players that the workers weren't joneses.

but there were other and larger phases of the game. little business men, shopkeepers, and such ilk took what whack they could out of the product of the worker; but, after all, it was the large business men who formed the workers through the little business men. when all was said and done, the latter, like jones in petacha valley, got no more than wages out of their whack. in truth, they were hired men for the large business men. still again, higher up, were the big fellows. they used vast and complicated paraphernalia for the purpose, on a large scale of getting between hundreds of thousands of workers and their products. these men were not so much mere robbers as gamblers. and, not content with their direct winnings, being essentially gamblers, they raided one another. they called this feature of the game high finance. they were all engaged primarily in robbing the worker, but every little while they formed combinations and robbed one another of the accumulated loot. this explained the fifty-thousand-dollar raid on him by holdsworthy and the ten-million-dollar raid on him by dowsett, letton, and guggenhammer. and when he raided panama mail he had done exactly the same thing. well, he concluded, it was finer sport robbing the robbers than robbing the poor stupid workers.

thus, all unread in philosophy, daylight preempted for himself the position and vocation of a twentieth-century superman. he found, with rare and mythical exceptions, that there was no noblesse oblige among the business and financial supermen. as a clever traveler had announced in an after-dinner speech at the alta-pacific, "there was honor amongst thieves, and this was what distinguished thieves from honest men." that was it. it hit the nail on the head. these modern supermen were a lot of sordid banditti who had the successful effrontery to preach a code of right and wrong to their victims which they themselves did not practise. with them, a man's word was good just as long as he was compelled to keep it. thou shalt not steal was only applicable to the honest worker. they, the supermen, were above such commandments. they certainly stole and were honored by their fellows according to the magnitude of their stealings.

the more daylight played the game, the clearer the situation grew. despite the fact that every robber was keen to rob every other robber, the band was well organized. it practically controlled the political machinery of society, from the ward politician up to the senate of the united states. it passed laws that gave it privilege to rob. it enforced these laws by means of the police, the marshals, the militia and regular army, and the courts. and it was a snap. a superman's chiefest danger was his fellow-superman. the great stupid mass of the people did not count. they were constituted of such inferior clay that the veriest chicanery fooled them. the superman manipulated the strings, and when robbery of the workers became too slow or monotonous, they turned loose and robbed one another.

daylight was philosophical, but not a philosopher. he had never read the books. he was a hard-headed, practical man, and farthest from him was any intention of ever reading the books. he had lived life in the simple, where books were not necessary for an understanding of life, and now life in the complex appeared just as simple. he saw through its frauds and fictions, and found it as elemental as on the yukon. men were made of the same stuff. they had the same passions and desires. finance was poker on a larger scale. the men who played were the men who had stakes. the workers were the fellows toiling for grubstakes. he saw the game played out according to the everlasting rules, and he played a hand himself. the gigantic futility of humanity organized and befuddled by the bandits did not shock him. it was the natural order. practically all human endeavors were futile. he had seen so much of it. his partners had starved and died on the stewart. hundreds of old-timers had failed to locate on bonanza and eldorado, while swedes and chechaquos had come in on the moose-pasture and blindly staked millions. it was life, and life was a savage proposition at best. men in civilization robbed because they were so made. they robbed just as cats scratched, famine pinched, and frost bit.

so it was that daylight became a successful financier. he did not go in for swindling the workers. not only did he not have the heart for it, but it did not strike him as a sporting proposition. the workers were so easy, so stupid. it was more like slaughtering fat hand-reared pheasants on the english preserves he had heard about. the sport to him, was in waylaying the successful robbers and taking their spoils from them. there was fun and excitement in that, and sometimes they put up the very devil of a fight. like robin hood of old, daylight proceeded to rob the rich; and, in a small way, to distribute to the needy.

but he was charitable after his own fashion. the great mass of human misery meant nothing to him. that was part of the everlasting order. he had no patience with the organized charities and the professional charity mongers. nor, on the other hand, was what he gave a conscience dole. he owed no man, and restitution was unthinkable. what he gave was a largess, a free, spontaneous gift; and it was for those about him. he never contributed to an earthquake fund in japan nor to an open-air fund in new york city. instead, he financed jones, the elevator boy, for a year that he might write a book. when he learned that the wife of his waiter at the st. francis was suffering from tuberculosis, he sent her to arizona, and later, when her case was declared hopeless, he sent the husband, too, to be with her to the end. likewise, he bought a string of horse-hair bridles from a convict in a western penitentiary, who spread the good news until it seemed to daylight that half the convicts in that institution were making bridles for him. he bought them all, paying from twenty to fifty dollars each for them. they were beautiful and honest things, and he decorated all the available wall-space of his bedroom with them.

the grim yukon life had failed to make daylight hard. it required civilization to produce this result. in the fierce, savage game he now played, his habitual geniality imperceptibly slipped away from him, as did his lazy western drawl. as his speech became sharp and nervous, so did his mental processes. in the swift rush of the game he found less and less time to spend on being merely good-natured. the change marked his face itself.

the lines grew sterner. less often appeared the playful curl of his lips, the smile in the wrinkling corners of his eyes. the eyes themselves, black and flashing, like an indian's, betrayed glints of cruelty and brutal consciousness of power. his tremendous vitality remained, and radiated from all his being, but it was vitality under the new aspect of the man-trampling man-conqueror. his battles with elemental nature had been, in a way, impersonal; his present battles were wholly with the males of his species, and the hardships of the trail, the river, and the frost marred him far less than the bitter keenness of the struggle with his fellows.

he still had recrudescence of geniality, but they were largely periodical and forced, and they were usually due to the cocktails he took prior to meal-time. in the north, he had drunk deeply and at irregular intervals; but now his drinking became systematic and disciplined. it was an unconscious development, but it was based upon physical and mental condition. the cocktails served as an inhibition. without reasoning or thinking about it, the strain of the office, which was essentially due to the daring and audacity of his ventures, required check or cessation; and he found, through the weeks and months, that the cocktails supplied this very thing. they constituted a stone wall. he never drank during the morning, nor in office hours; but the instant he left the office he proceeded to rear this wall of alcoholic inhibition athwart his consciousness. the office became immediately a closed affair. it ceased to exist. in the afternoon, after lunch, it lived again for one or two hours, when, leaving it, he rebuilt the wall of inhibition. of course, there were exceptions to this; and, such was the rigor of his discipline, that if he had a dinner or a conference before him in which, in a business way, he encountered enemies or allies and planned or prosecuted campaigns, he abstained from drinking. but the instant the business was settled, his everlasting call went out for a martini, and for a double-martini at that, served in a long glass so as not to excite comment.