MYSTERIOUS MR. " OBSERVER" 165 



process of elimination the list of possible " Observers " 

 was soon reduced to a few names. It was an easy 

 matter to verify the suspicion that the " letters " were 

 paid for at advertising rates and the question upper- 

 most hftcamft: Who are the greatest beneficiaries of 

 these attacks ?" 



" The elevator interests, of course !" was Chipman's 

 answer to his own question. He began to make progress 

 in his investigations and before long he became very 

 much interested in an office which happened to be 

 located in the Merchant's Bank Building, Winnipeg. 

 Here a certain bright newspaper man with some farm- 

 ing experience had taken to business as a " Financial 

 Agent " telephone, stenographer and all the rest of 

 the equipment. 



So sure was Chipman that he was on the right track 

 in following this clue that finally he shut the door of 

 his private office and wrote up the whole story of the 

 " deal " which he expected to have been made between 

 certain elevator men and this clever editorial writer 

 who knew so much about money that he had opened up 

 a Financial Agency. With the whole " exposure " 

 ready for publication and the photograph of the 

 " suspect " handy in a drawer of the desk, Chipman 

 asked the " Financial Agent " to call at the Guide office. 



" Thought you might like to look over that copy 

 before we use it," explained the editor casually when 

 his visitor's pipe was going well. He handed the 

 write-up across his desk. " I want to be fair and there 

 might be something " 



There decidedly was! a number of things, in fact! 

 Not the least of them was the utter surprise of the 

 pseudo Financial Agent. He did not attempt to deny 

 the truth of the statements made for publication. 



