“Regarding that steamer _Valkyrie_, please be advised that the next steamer to Australia, via Papeete and Raratonga, will carry a Blue Star flag and my instructions to our representative to have it tacked to the main truck of the _Valkyrie_ as she dies submerged in the harbor. Since I assume you will be interested in learning the details of our acquisition of the steamer in question, and since, further, I cannot see that I have anything to lose by withholding this interesting information, please be advised that we bought her in for twenty-two thousand five hundred dollars.
“I fear you will be inclined to doubt this and accuse me of romancing for the purpose of dropping more salt in a wound still fresh and bleeding; but I assure you such a suspicion would be a grave injustice to an old man whose portion from you should be pity, not opprobrium.
“To begin, it was very easy--after we had you out of the way. Like a sensible man, you knew you were licked and threw up the sponge to save yourself unnecessary punishment. It has been my experience that only a very wise man has sense enough to do that; consequently, despite your youth and impetuosity, I seem to see the glimmer of a very brilliant commercial future for the West Coast Trading Company.
“However, to the story: When Mike Murphy got down to Papeete he found a couple of broken-down junk dealers hanging round--the kind of fellows who would have been glad to bid in the vessel at a couple of thousand dollars for the privilege of breaking her up for junk and gutting her of her cargo. A little reflection convinced Captain Murphy that he could eliminate these small fry and centre his attention on the Australian steamship company; and he was aided in arriving at this conclusion by your Mr. Jinks, whom he found glooming at the dock on the arrival of the _Moana_ minus your handsome self. By the way, Mr. Jinks' action in aiding and abetting Murphy, after discovering that his own company was out of the running, was so sportsmanlike that, if you will kindly advise me of the expense to which you were put in sending him to Papeete, we will gladly send you our check to cover.
“It took the capable Murphy about an hour and a half to get the lay of the land--and then he started to play his little game. In the rather restricted society of Papeete Murphy played the fool. Every little while he would apparently acquire a small jag and get very confidential. He told everybody his business--in confidence--and everybody in Papeete knew just how much he was going to bid on the wreck. Finally, the day before the bids were to be opened--Murphy was waiting till the last minute before filing his--the captain of the port got a wireless from some adventurer down in Noumea, asking him to withhold the opening of the bids till he could get up to Papeete and make a bid. Murphy had already fooled away three weeks in Papeete and if the captain of the port hearkened to the request from the man from Noumea it would mean a wait of another three weeks. Consequently he awaited the next move with interest.