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Coburns are engaged in anything illegal, and if you grant that your whole case falls to the ground.”

Hilliard saw that for the moment at all events he could get no more. He therefore dropped the subject and they conversed on other topics until it was time to go ashore.

Lunch with their new acquaintances passed pleasantly, and after it the two friends went with Mr. Coburn to see over the works. Hilliard thought it better to explain that they had seen something of them on the previous day, but notwithstanding this assurance Mr. Coburn insisted on their going over the whole place again. He showed them everything in detail, and when the inspection was complete both men felt more than ever convinced that the business was genuine, and that nothing was being carried on other than the ostensible trade. Mr. Coburn, also, gave them his views on the enterprise, and these seemed so eminently reasonable and natural that Hilliard’s suspicions once more became dulled, and he began to wonder if their host’s peculiar manner could not have been due to some cause other than that he had imagined.

“There is not so much money in the pit-props as I had hoped,” Mr. Coburn explained. “When we started here the Baltic trade, which was, of course, the big trade before the war, had not revived. Now we find the Baltic competition growing keener, and our margin of profit is dwindling. We are handicapped also by having only a one-way traffic. Most of the Baltic firms exporting pit-props have an import trade in coal as well. This gives them double freights and pulls down their overhead costs. But it wouldn’t pay us to follow their example. If we ran coal it could only be to Bordeaux, and that would take up more of our boat’s time than it would be worth.”

Hilliard nodded and Mr. Coburn went on:

“On the other hand, we are doing better in what I may call ‘sideshows.’ We’re getting quite a good price for our firewood, and selling more and more of it. Three large firms in Bordeaux have put in wood-burning fireboxes and nothing else, and two others are thinking of following suit. Then I am considering two developments; in fact, I have decided on the first. We are going to put in an air compressor in our engine-room, and use pneumatic tools in the forest for felling and lopping. I estimate that will save us six men. Then I think there would be a market for pine paving blocks for streets. I haven’t gone into this yet, but I’m doing so.”

“That sounds very promising,” Hilliard answered. “I don’t know much about it, but I believe soft wood blocks are considered better than hard.”

“They wear more evenly, I understand. I’m trying to persuade the Paris authorities to try a piece of it, and if that does well it might develop into a big thing. Indeed, I can imagine our giving up the pit-props altogether in the future.”

After a time Miss Coburn joined them, and, the Ford car being brought out, the party set off on their excursion. They visited a part of the wood where the trees were larger than near the sawmill, and had a pleasant though uneventful afternoon. The evening they spent as before at the Coburns’ house.

Next day the friends invited their hosts to join them in a trip up the river. Hilliard tactfully interested the manager in the various “gadgets” he had fitted up in the launch, and Merriman’s dream of making tea with Miss Coburn materialised. The more he saw of the gentle, brown-eyed girl, the more he found his heart going out to her, and the more it was borne in on him that life without her was becoming a prospect more terrible than he could bring himself to contemplate.

They went upstream on the flood tide for some twenty miles, until the forest thinned away and they came on vineyards. There they went ashore, and it was not until the shades of evening were beginning to fall that they arrived back at the clearing.

As they swung round the bend in sight of the wharf Mr. Coburn made an exclamation.

“Hallo!” he cried. “There’s the Girondin. She has made a good run. We weren’t expecting her for another three or four hours.”

At the wharf lay a vessel of about 300 tons burden, with bluff, rounded bows sitting high up out of the water, a long, straight waist, and a bridge and cluster of deckhouses at the stern.

“Our motor ship,” Mr. Coburn explained with evident pride. “We had her specially designed for carrying the pit-props, and also for this river. She only draws eight feet. You must come on board and have a look over her.”

This was of all things what Hilliard most desired. He recognised that if he was allowed to inspect her really thoroughly, it would finally dispel any lingering suspicion he might still harbour that the syndicate was engaged in smuggling operations. The two points on which that suspicion had been founded⁠—the absence of return cargoes and the locality of the French end of the enterprise⁠—were not, he now saw, really suspicious at all. Mr. Coburn’s remark met the first of these points, and showed that he was perfectly alive to the handicap of a oneway traffic. The matter had not been material when the industry was started, but now, owing to the recovery of the Baltic trade after the war, it was becoming important, and the manager evidently realised that it might easily grow sufficiently to kill the pit-prop trade altogether. And the locality question was even simpler. The syndicate had chosen the pine forests of the Landes for their operations because they wanted timber close to the sea. On the top of these considerations came the lack of secrecy about the ship. It could only mean that there really was nothing aboard to conceal.

On reaching the wharf all four crossed the gangway to the deck of the Girondin. At close quarters she seemed quite a big boat. In

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