profitable terms, I have always succeeded in getting the railroad to
lower its rate. What is the result? Large or small, the railroad always
gets my profits."

"What remains to you over and above," Ernest interrupted to ask, "would
roughly be the equivalent of your salary as a manager did the railroad
own the quarry."

"The very thing," Mr. Asmunsen replied. "Only a short time ago I had my
books gone through for the past ten years. I discovered that for
those ten years my gain was just equivalent to a manager's salary. The
railroad might just as well have owned my quarry and hired me to run
it."

"But with this difference," Ernest laughed; "the railroad would have had
to assume all the risk which you so obligingly assumed for it."

"Very true," Mr. Asmunsen answered sadly.

Having let them have they say, Ernest began asking questions right and
left. He began with Mr. Owen.

"You started a branch store here in Berkeley about six months ago?"

"Yes," Mr. Owen answered.

"And since then I've noticed that three little corner groceries have
gone out of business. Was your branch store the cause of it?"

Mr. Owen affirmed with a complacent smile. "They had no chance against