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The director had walked heavily to the window and put his hands deep into his side-pockets. He had an angry sense that the agent’s hands were in his pockets too.

“I’ve got some pride about that nine per cent., sir,” he said loftily to the agent.

“So have I,” said the agent, and the two men looked each other in the face.

“I acknowledge my duty to the stockholders,” said the younger man presently. “I have tried to remember that duty ever since I took the mills eight years ago, but we’ve got an excellent body of operatives, and we ought to keep them. I want to show them this next year that we value their help. If times aren’t as bad as we fear we shall still have the money–“

“Nonsense. They think they own the mills now,” said the director, but he was uncomfortable, in spite of believing he was right. “Where’s my hat? I must have my luncheon now, and afterward there’ll hardly be time to go down and look at the new power-house with you–I must be off on the quarter-to-two train.”

The agent sighed and led the way. There was no use in saying anything more and he knew it. As they walked along they met old Mrs. Kilpatrick returning from her brief noonday meal with little Maggie, whose childish face was radiant. The old woman recognized one of the directors and dropped him a decent curtsey as she had been taught to salute the gentry sixty years before.

The director returned the salutation with much politeness. This was really a pleasant incident, and he took a silver half dollar from his pocket and gave it to the little girl before he went on.

“Kape it safe, darlin’,” said the old woman; “you’ll need it yet. Don’t be spending all your money in sweeties; ’tis a very cold world to them that haves no pince in their pocket.”

The child looked up at Mrs. Kilpatrick apprehensively; then the sunshine of hope broke out again through the cloud.

“I am going to save fine till I buy a house, and you and me’ll live there together, Mrs. Kilpatrick, and have a lovely coal fire all the time.”

“Faix, Maggie, I have always thought some day I’d kape a pig and live pritty in me own house,” said Mrs. Kilpatrick. “But I’m the old sweeper yet in Number Two. ‘Tis a worrld where some has and more wants,” she added with a sigh. “I got the manes for a good buryin’, the Lord be praised, and a bitteen more beside. I wouldn’t have that if Father Daley was as croping as some.”

“Mis’ Mullin does always be scolding ’bout Father Daley having all the collections,” ventured Maggie, somewhat adrift in so great a subject.

“She’s no right then!” exclaimed the old woman angrily; “she’ll get no luck to be grudging her pince that way. ‘Tis hard work anny priest would have to kape the likes of hersilf from being haythens altogether.”

There was a nine per cent. annual dividend declared at the directors’ meeting the next week, with considerable applause from the board and sincere congratulations to the agent. He looked thinner and more sober than usual, and several persons present, whose aid he had asked in private, knew very well the reason. After the meeting was over the senior director, and largest stockholder, shook hands with him warmly.

“About that matter you suggested to me the other day,” he said, and the agent looked up eagerly. “I consulted several of our board in regard to the propriety of it before we came down, but they all agreed with me that it was no use to cross a bridge until you come to it. Times look a little better, and the operatives will share in the accession of credit to a mill that declares nine per cent. this year. I hope that we shall be able to run the mills with at worst only a moderate cut-down, and they may think themselves very fortunate when so many hands are being turned off everywhere.”