Jeff awakened an hour before sunrise. He raised himself on his bunk and listened. Dan's regular breathing proved that he still slept, and Jeff settled back beneath his warm blankets to do some thinking.

In some respects, the trading around Smithville had not gone as well as he had hoped it would. The hill men had been eager for his knives of many uses, his fishing tackle, his small tools, his nails and all the bolts and screws he had. They had also taken all the novelties. But they had spurned his inferior products because they could make better ones themselves, and Jeff had been able to trade only one watch. Watches were useless to those who guided themselves by the sun.

The women had been happy over the gay ribbons, the thread and yarn, the pins and needles, and the bolt of gingham had gone in two days. It was better and more colorful than anything Abel Tarkman stocked. But the women had wanted only a small portion of his kitchenware and spices. Jeff had traded all his cinnamon, pepper, tea and the few other things that could not be found locally. But no hill woman would think of offering anything at all for what she could find growing within easy reach of her doorstep or was able to produce in her garden.

The candy had been exhausted by the third day, and Jeff grinned at the way it had gone. He had conceived what he thought was the clever idea of bribing the children with it, and he had discovered that the older folks had a sweet tooth, too. Never to be forgotten was Grandpa Severance, sucking a striped peppermint stick with toothless jaws.

However, in other respects, trading had far exceeded Jeff's fondest hopes.

Though the hill people had rejected some of his wares, they had been willing to pay well for what they did want. Jeff and Dan had visited their cabins or met them on the trails, for news that a peddler who'd rather trade than sell was abroad had penetrated into the remotest valleys. Jeff had a dozen hunting knives whose quality ranged from fair to superb. There were three exquisitely balanced hand-made hatchets, a wonderfully polished hunting horn, a set of fine miniatures made of deer antler, a fringed buckskin shirt, four pairs of superior moccasins and other articles, including an ancient matchlock pistol still in working order. Granny Wilson's tapestries remained his biggest prize.

Jeff knew that, beyond any doubt, his week's work had paid him more than any previous month's. But he knew also that he would have to get trade goods that conformed to the hill people's idea of what they wanted. Therefore, in order to get new stock and dispose of the wares he had, a trip to Ackerton was necessary. That presented a problem.

Dan had traveled with him all week. Far from lagging, his interest in trading had heightened. So far Dan had kept his promise and had done as Jeff said. But by the fastest route it would take a full day to go to Ackerton, a full day to return, and Jeff thought that he would need at least four or five days in the city. What would Dan do if Jeff were not there to restrain him? The boy had never forgotten that a blood feud had brought him back to Smithville.

Dan's bunk rustled and he whispered, "Jeff."

"I'm here."

"Just wanted to see if you're awake."

As it usually did when he needed it most, happy inspiration came to Jeff.

"I'm awake all right and I want you to do something for me."

"Sure, Jeff."

"I'm going to Ackerton today and I may be gone a week or more. I want you to take Pal and go up to watch over Granny Wilson."

"But—"

"She needs somebody," Jeff urged. "You and I have stopped in there almost every day and kept an eye on her. We can't just leave her alone."

Dan said reluctantly, "All right, Jeff. Can I take the shotgun?"

"You'd just better."

His problem neatly solved, Jeff relaxed. When Dan announced that he had been assigned as her protector, Granny, in her wisdom, would accept him as such. If he should get out of hand, the shotgun shells were loaded with nothing but paper. They'd make a satisfactory noise but wouldn't hurt anybody.

Jeff prepared their breakfasts, they cleaned the cabin, and with the shotgun over one shoulder, half-pulling the unwilling Pal with his free hand, Dan started for Granny Wilson's. Pack on his shoulder, Jeff strode into Smithville.

There were two routes to Ackerton. The hard one was over the mountains. The easy one was eighteen miles down the logger's road to Delview, where a train could be boarded, and Jeff chose that way. He walked swiftly, anxious to make time, but even as he walked he filed in his mind the locations of the cabins he either passed or saw evidence of. There were vast possibilities for trade around Smithville. So far he and Dan had explored only a small part of it.

Half past twelve brought him to Delview, and Jeff walked openly down the street. Larger than Cressman, Delview was busier, and Jeff's peddling instincts cried for expression. He submerged them; a city was the only place to offer the wares he carried now. Jeff stopped when a policeman tapped his shoulder.

"Are you peddling?"

"No," Jeff answered blandly, "just passing through."

"You come from Cressman?"

"Cressman? I came from Smithville."

"Just thought I'd ask. Been fishing?"

"Hunting," Jeff said gravely.

He grinned to himself and walked on. Obviously, Pop and Joe Parker had sent word to Delview, but just as obviously they'd told the police there to be alert for a red-headed peddler accompanied by a huge dog. On impulse, Jeff stopped at a drugstore, bought a postcard, addressed it to Joe Parker, and wrote, "Thanks for sending me to Delview. Regards to Pop. Happy days."

He signed it J. Seymour Tarrant, Esq., dropped it into a mail box, made his way to the station and bought a ticket to Ackerton.

Leaving Delview at half past three, and stopping several times en route, the train did not reach Ackerton until a quarter to eight. Jeff bore the slow ride serenely, for only the unwise thought that they must forever hurry. Besides, time could always be used to good advantage and the slow train was a heaven-sent opportunity to work out a plan. Arriving in Ackerton, Jeff had a clear idea of just what he wanted to do there.

He left the train and made a confident way through the huge station. He had the pack on his back because that was the easiest way to carry it, and he met the curious stares directed at him with a good-natured grin. He was as out of place here as a well-dressed Ackertonite would have been in Smithville, and he elicited the same curiosity. But he did not mind because he had been in cities before and he would be forgotten as soon as he was out of sight. Jeff's questing eyes found a paper banner displayed above one of the station's newsstands:

HOTEL KENNARD, ACKERTON'S BEST

He glanced at the banner and followed a pointing arrow with TAXI stenciled on it. Imperiously he beckoned the lead cab and directed, "The Hotel Kennard."

The cabbie looked questioningly at him. "The Kennard?"

"The Kennard," Jeff repeated, "and since I know the shortest way, you might as well follow it."

The cabbie shrugged; if this ill-dressed traveler wanted to go to the Kennard, and was able to pay for the trip, that was his affair. Jeff relaxed in the back seat and gave himself over to enjoying a city's sights, sounds, and bustle. Maybe, if he were a very wealthy merchant, instead of a peddler, he would enjoy such a place himself. A moment later he decided that he wouldn't. Half his fun lay in personal contact with customers, and there was little that was personal about city business. The cab halted at the curb and the driver opened the door.

"Just a second," Jeff directed.

He glanced swiftly at the Kennard and was satisfied. It was in one of the better sections, and the well-dressed men and women going in and out were proof enough that it was, if not the best, at least one of the best hotels. Thus Jeff had the base of operations that he wanted. He paid the cabbie and entered the hotel.

The lobby was plush, with thick carpeting, marble pillars, and the usual quota of those who were waiting or simply loafing in upholstered chairs. Heads rose, and Jeff winked slyly at an obviously affluent man who peered at him over the top of a paper. Embarrassed, the man ducked back beneath his paper. Jeff made his way to the desk.

"First floor room with bath," he directed loftily. "I wish to be away from street noises and," he looked critically around the lobby, "I prefer the better furnishings."

The blasÉ clerk, who had registered all sorts of guests but few like this, took Jeff's measure with his eye.

"Those rooms are five dollars a day."

"My good man! I asked for a room, not advice!"

"Ye—" the clerk was still suspicious but he was also there to rent rooms. "Yes, sir. Overnight only?"

"My stay is indefinite."

Jeff signed the register with a flourishing "Jeffrey S. Tarrant," accepted the key and gave his pack over to a solemn-faced bellboy who led him down a corridor. He examined the room as he entered, displayed a dollar bill, flipped a quarter and said to the bellboy,

"Bring me a city directory, will you?"

"Yes, sir."

The bellboy left, knocked discreetly a few minutes later, handed Jeff a bulky directory, and Jeff tipped him a dollar. He washed and, careless of the glances he attracted, enjoyed a good dinner in the Kennard's dining room. Then he returned to his room, belly-flopped on the bed, opened the directory, laid a pencil and sheet of paper on it and began to run his finger down the columns. He came to "Barnerson, Joseph D., dlr. antqes. 413 Grand Ave.," and wrote the information on his sheet of paper. Jeff noted five more dealers in antiques, six sporting goods stores and six shops chosen at random which, from their listings, seemed to cater to exclusive trade. That done, he referred to a city map in the same book and drew a line through whatever did not seem to be in one of Ackerton's better districts.

The first phase of his campaign was outlined. Jeff rang for the evening papers and read until he was too sleepy to read any more.

From force of habit he awoke at dawn, but turned over and went back to sleep. The hill people began their day with the first light, but he was in a city now. Jeff awoke again at eight o'clock, breakfasted and made his way to the street. He wandered down it and entered the first clothing store he found.

"I want a business suit," he told the clerk who accosted him.

"This way, sir."

The clerk tried to read Jeff, thought he'd succeeded, and brought out a suit that had been in style fifteen years ago and probably in storage since.

Jeff rose with a curt, "Don't you have any new suits?"

"Oh! Sorry, sir. My error."

He fitted Jeff with a neat blue serge suit, a white shirt, a modest but smart tie, a pair of socks, and new shoes. Jeff took his old clothes back to the Kennard, wrapped one of Barr Whitney's knives, thrust it into his inside coat pocket and went out. His trap was set and scented. Now he had to see if he would catch anything.

There were four sporting goods stores still on his list, but Jeff passed the first because its windows were dirty and the second because it advertised a bargain sale. But the third seemed to offer what he wanted. He asked the friendly clerk who came forward, "Is Mr. Ryerson in?"

"No, he isn't. But Mr. Calworth is."

"May I see him?"

"This way."

Jeff followed the clerk down the aisle and examined the store closely as he did so. The fire arms, fishing tackle and other sporting equipment displayed on the counters was all of quality make and he hadn't been asked for an appointment, so evidently this store catered to sportsmen able to afford the best and at the same time it was not overly formal. The clerk ushered him into an office and Jeff's hopes rose.

"Mr. Calworth," the clerk said, "this gentleman wants to see you."

"My name's Tarrant," Jeff shook Mr. Calworth's extended hand, "Jeff Tarrant, and I'd hoped you'd be kind enough to furnish me with some information."

"Sit down, Mr. Tarrant."

Mr. Calworth was middle-aged, and a sprinkling of gray showed in his black hair. But there was a sparkle in his eyes, an ease of movement and callouses on his hands. Obviously he did something besides sit at a desk, and Jeff guessed shrewdly that he was an outdoor enthusiast himself. Jeff took the proffered chair and draped himself carelessly, but not too carelessly, upon it.

"I represent Tarrant Enterprises," Jeff almost added the Ltd., but caught himself in time. "We may wish to expand."

"Are you in sporting goods?"

"Partly."

"And you're considering Ackerton?"

"Yes and no. That's what I hope to decide."

"There's plenty of room, Mr. Tarrant."

"But how much good room?"

Mr. Calworth laughed. "I'll tell you frankly. There are a variety of sporting goods stores, but Ryerson and Hapley split forty-five per cent of the trade and ninety per cent of the most desirable trade. However, there is no reason why an aggressive newcomer should not do very well."

Jeff bent forward. "Is there a survey—Oh!" Purposely arranged to do so, the knife in his pocket had slipped and thrust the front of his new coat outward. Grinning his embarrassment, Jeff took the knife from his pocket and balanced it on his knee.

Mr. Calworth's eyes followed his movements. "What do you have there?"

"One of our specialties." Jeff gave him the knife. "A rather exceptional piece."

Mr. Calworth slipped the knife from its sheath, and his eyes warmed as he examined it. He tested the blade with his thumb and shaved a couple of hairs from the back of his hand. When he turned to Jeff, he was interested.

"You specialize in this sort of thing?"

"We specialize in quality," Jeff said casually. "When we sell, we like to believe that the customer receives full value."

"Do you get many articles as good?"

Jeff shrugged. "Look at it. Can that be mass-produced?"

"No," Mr. Calworth admitted. "What is your retail price on this knife?"

"Twenty dollars," Jeff said firmly.

"When do you intend to open your branch, Mr. Tarrant?"

"I'm not sure we will open it. At least, we won't until after much more extensive research."

"Would you care to make Ryerson your agent until you decide definitely?"

Jeff deliberated. Then, "I hadn't thought of an agency."

"It can't hurt you and it might make you some money. I'll continue to be frank. This is not something to offer an average customer because he simply cannot afford it. But there are sportsmen who can, and they come to Ryerson's. We'll take this, and any other quality merchandise you have, at a thirty per cent discount."

Jeff thought of Barr's other knife, a few of the rest, the hatchets, the bridle reins, and made a swift calculation. Not all were equally valuable, but all were quality. If Ryerson paid him cash, he would more than make up for everything he had dispensed from his pack, his train fare, his expenses in Ackerton, and he would still have valuable goods. He said finally, "It should work to our mutual benefit."

"May we expect some more soon?" Mr. Calworth asked.

"I have a few in my sample case at the Kennard. You may have those as soon as I've time to deliver them and more in—shall we say three weeks?"

"I'll send a clerk for what you have," Mr. Calworth promised, "and leave your check at the Kennard desk. Or would you prefer payment to your business headquarters?"

Jeff held his breath inwardly, but answered quite casually, "It doesn't matter."

"We'll leave it at the Kennard," Mr. Calworth decided. "What should the total be?"

Jeff made a swift mental calculation. Barr Whitney's two knives for twenty dollars each, one almost as good for fifteen, two for ten and three for five dollars each. Pete's horsehide thong for four dollars and the three hatchets at five dollars each. That less thirty per cent. Jeff gave the total, "Seventy-six dollars and thirty cents."

"Good!" Jeff knew that this keen man would examine each article and see if the price was suitable. "Are you going back to the Kennard?"

"I must stop in for a few minutes."

"May I send someone along to pick up the rest of the things?"

"Certainly."

"Fine! Don't forget us, Mr. Tarrant."

Jeff walked back to the Kennard with one of Ryerson's clerks, gave him the merchandise intended for him in the lobby and got a receipt. Then he returned to his room, looked over the motley collection of knives that remained, and decided that he could sell or trade them to his advantage. But he wanted to take care of some of the other articles first and then give special attention to Granny's tapestries. He examined the pistol and the set of miniatures. Both were unknown quantities.

About a foot long, the pistol had a metal barrel and ivory handles that had faded to a soft yellow. On each handle was an elaborate boar's head. Nat Stancer, who had traded Jeff the pistol for two screwdrivers, had kept it in good working order. Jeff did not know how much it was worth, but certainly it would be of use only to a hill man or to someone interested in antiques.

The miniatures were small but well carved and proportioned, and all of them consisted of deer in various stages and poses. There were a doe and fawn, a running buck, a lone fawn, three grazing does, a resting buck and a doe rearing. They had cost Jeff a yard each of red, blue and yellow ribbon, but the woman who had traded them had not done the carving. The miniatures were also old and Jeff thought they had probably been fashioned by some invalid with nothing else to do.

The pistol in one side pocket and the miniatures in another, Jeff set out to visit the antique dealers whose names and addresses he had listed. With no experience in antiques, he had only a vague idea as to how to go about selling his, so he took the dealers in alphabetical order and the first name on his list was Joseph Barnerson.

He entered the store, a narrow building sandwiched between two larger ones, and looked curiously at the objects surrounding him. Jeff recognized few and wanted none, but looking at them strengthened his own conviction that, no matter what the article might be, it was desirable to somebody. Jeff turned toward the man who came to meet him. He had half expected somebody old and creaking, but this man was only about thirty and far from decrepit.

"What may I do for you?"

"I have an old pistol," Jeff said, "and maybe I'd sell it if I got the right price."

The man smiled. "Mister, I sell antiques. I do not buy them."

"You don't? Where do you get your stock then?"

The smile became a grin. "I get my merchandise in my own way. Let me see your pistol."

Jeff handed it over. The man examined it closely and finally said, "They're a drug on the market. I'll give you fifty cents."

"In that case, wrap up six for me. I'll give you three dollars for 'em."

"Where would I get six?"

"You said they're a drug on the market."

"So," the man admitted, "are most other antiques. Their value depends on how badly somebody wants them. Find somebody who wants the pistol and you'll get a fair price. To somebody who doesn't want it, it isn't worth a penny."

"That makes sense."

"What are you going to do now?"

"Find somebody who wants it."

But, though Jeff visited other dealers in antiques, none offered him more than a dollar for the pistol and nobody offered anything for the miniatures. It was very late when he returned to the Kennard.