212 FOR THE FLAG and our treasures! A few more successful years and we shall divide the profits, which will be sufficiently large to make each one’s portion a decent fortune, to be enjoyed according to his fancy—after the liquidation of the firm Ker Karraje and Co.! I may add that not only are we safe from an explosion, but we do not dread a denun- ciation—which you alone would be in a position to make, my dear Mr. Hart! So I counsel you to resign yourself as a sensible man, to wait patiently until the liquidation of the society. When that day comes we shall decide how we are to secure ourselves against you.” It must be admitted these words were anything but re- assuring. / However, between this and then we shall see. I sur- mised from this conversation that though M. Roch may have sold his explosive to Ker Karraje and Co., he has kept the secret of his deflagrator, without which the explosive is of no more value than the dust on the high road. Nevertheless, before closing the interview, I thought I might make an observation to Serké which was very natural after all,— “You now know the composition of this explosive. . Well, on the whole, has it really that destructive power “which its inventor attributes to it? Has it ever been tried? How do you know that you have not bought a _compound as harmless as a pinch of snuff?” ; “Perhaps you are more certain on this. point than you wish to appear, Mr. art. But I thank you, nevertheless,