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CHAPTER IX

THE RED LINE IN THE LEDGER

It was Major Milward’s custom to spend an hour or so of every morning in the office, when all matters of importance in connection with the estate were brought before him. Sandy had claimed that the real management of affairs was in his hands, and though there was a certain justification for this, it did not take Geoffrey many days to discover that the master mind belonged in fact to the head of the household. He was astonished at the clearness of judgment with which the Major dissected a commercial problem, and the far-reaching grasp of its possibilities which seemed to be present a few moments after the subject was first mooted. Nothing could exceed his keenness and shrewdness in entering into any speculation which seemed to promise profitable returns—unless it might be the laxity he displayed in pressing for his own after the venture had succeeded. Major Milward was above all things a companionable and good-tempered man so long as he did not meet with wilful or prolonged opposition. But there was something in his shaggy brows and bright blue-gray eyes which was cal-

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