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five hundred thousand tons of mercury, for delivery as soon as possible."

"What! Oh, say, I thought you were going in for business." Faragaut gave a slight laugh of relief.

"Tom, I am. I mean exactly what I say. I want five—hundred—thousand—tons of metallic mercury, and just as soon as you can get it."

"Man, there isn't that much in the system."

"I know it. Get all there is on the market for me, and contract to take all the 'Jupiter Heavy-Metals' can turn out. You send those orders through, and clean out the market completely. Somebody's about to pay for the work I've been doing, and boy, they're going to pay through the nose. After you've got that order launched, and don't make a christening party of the launching either, why just drop out here, and I'll show you why the value of mercury is going so high you won't be able to follow it in a space ship."

"The cost of that," said Faragaut, seriously now, "will be about—fifty-three million at the market price. You'd have to put up twenty-six cash, and I don't believe you've got it."

Buck laughed. "Tom, loan me a dozen million, will you? You send that order through, and then come see what I've got. I've got a break, too! Mercury's the best metal for this use—and it'll stop gamma rays too!"

"So it will—but for the love of the system, what of it?"

"Come and see—tonight. Will you send that order through?"

"I will, Buck. I hope you're right. Cash is tight now, and I'll probably have to put up nearer twenty million, when all that buying goes through. How long will it be tied up in that deal, do you think?"

"Not over three weeks. And I'll guarantee you three hundred percent—if you'll stay in with me after you start. Otherwise—I don't think making this money would be fair just now."

"I'll be out to see you in about two hours, Buck. Where are you? At the estate?" asked Faragaut seriously.

"In my lab out there. Thanks, Tom."[45]

McLaurin was there when Tom Faragaut arrived. And General Logan, and Colonel Gerardhi. There was a restrained air of gratefulness about all of them that Tom Faragaut couldn't quite understand. He had been looking up Buck Kendall's famous bank, and more and more he had begun to wonder just what was up. The list of stockholders had read like a list of IP heroes and executives. The staff had been a list of IP men with a slender sprinkling of accountants. And the sixty-million dollar structure was to be a bank without advertising of any sort! Usually such a venture is planned and published months in advance. This had sprung up suddenly, with a strange quietness.

Almost silently, Buck Kendall led the way to the laboratory. A small metal tank was supported in a peculiar piece of apparatus, and from it led a small platinum pipe to a domed apparatus made largely of insulum. A little pool of mercury, with small red crystals floating in it rested in a shallow hollow surrounded by heavy conductors.

"That's it, Tom. I wanted to show you first what we have, and why I wanted all that mercury. Within three weeks, every man, woman and child in the system will be clamoring for mercury metal. That's the perfect accumulator." Quickly he demonstrated the machine, charging it, and then discharging it. It was better than 99.95% efficient on the charge, and was 100% efficient on the discharge.

"Physically, any metal will do. Technically, mercury is best for a number of reasons. It's a liquid. I can, and do it in this, charge a certain quantity, and then move it up to the storage tank. Charge another pool, and move it up. In discharge, I can let a stream flow in continuously if I required a steady, terrific drain of power without interruption. If I wanted it for more normal service, I'd discharge a pool, drain it, refill the receiver, and discharge a second pool. Thus, mercury is the metal to use.

"Do you see why I wanted all that metal?"

"I do, Buck—Lord, I do," gasped Faragaut. "That is the perfect power supply."

"No, confound it, it isn't. It's a secondary source. It[46] isn't primary. We're just as limited in the supply of power as ever—only we have increased our distribution of power. Lord knows, we're going to need a power supply badly enough before long—" Buck relapsed into moody silence.

"What," asked Faragaut, looking around him, "does that mean?"

It was McLaurin who told him of the stranger ship, and Kendall's interpretation of its meaning. Slowly Faragaut grasped the meaning behind Buck's strange actions of the past months.

"The Lunar Bank," he said slowly, half to himself. "Staffed by trained IP men, experts in expert destruction. Buck, you said something about the profits of this venture. What did you mean?"

Buck smiled. "We're going to stick up IP to the extent necessary to pay for that fort—er—bank—on Luna. We'll also boost the price so that we'll make enough to pay for those ships I'm having made. The public will pay for that."

"I see. And we aren't to stick the price too high, and just make money?"

"That's the general idea."

"The IP Appropriations Board won't give you what you need, Commander, for real improvements on the IP ships?"

"They won't believe Kendall. Therefore they won't."

"What did you mean about gamma rays, Buck?"

"Mercury will stop them and the Commander here intends to have the refitted ships built so that the engine room and control room are one, and completely surrounded by the mercury tanks. The men will be protected against the gamma rays."

"Won't the rays affect the power stored in the mercury—perhaps release it?"

"We tried it out, of course, and while we can't get the intensities we expect, and can't really make any measurements of the gamma-ray energy impinging on the mercury—it seems to absorb, and store that energy!"

"What's next on the program, Buck?"

"Finish those ships I have building. And I want to do[47] some more development work. The Stranger will return within six months now, I believe. It will take all that time, and more for real refitting of the IP ships."

"How about more forts—or banks, whichever you want to call them. Mars isn't protected."

"Mars is abandoned," replied General Logan seriously. "We haven't any too much to protect old Earth, and she must come first. Mars will, of course, be protected as best the IP ships can. But—we're expecting defeat. This isn't a case of glorious victory. It will be a case of hard won survival. We don't know anything about the enemy—except that they are capable of interstellar flights, and have atomic energy. They are evidently far ahead of us. Our battle is to survive till we learn how to conquer. For a time, at least, the Strangers will have possession of most of the planets of the system. We do not think they will be able to reach Earth, because Commander McLaurin here will withdraw his ships to Earth to protect the planet—and the great 'Lunar Bank' will display its true character."

[49]

VII

Faragaut looked unsympathetically at Buck Kendall, as he stood glaring perplexedly at the apparatus he had been working on.

"What's the matter, Buck, won't she perk?"

"No, damn it, and it should."

"That," pointed out Faragaut, "is just what you think. Nature thinks otherwise. We generally have to abide by her opinions. What is it—or what is it meant to be?"

"Perfect reflector."

"Make a nice mirror. What else, and how come?"

"A mirror is just what I want. I want something that will reflect all the radiation that falls on it. No metal will, even in its range of maximum reflectivity. Aluminum goes pretty high, silver, on some ranges, a bit higher. But none of them reaches 99%. I want a perfect reflector that I can put behind a source of wild, radiant energy so I can focus it, and put it where it will do the most good."

"Ninety-nine percent. Sounds pretty good. That's better efficiency than most anything else we have, isn't it?"

"No, it isn't. The accumulator is 100% efficient on the discharge, and a good transformer, even before that, ran as high as 99.8 sometimes. They had to. If you have a transformer handling 1,000,000 horsepower, and it's even 1% inefficient, you have a heat loss of nearly 10,000 horsepower to handle. I want to use this as a destructive weapon, and if I hand the other fellow energy in distressing amounts, it's even worse at my end, because no matter how perfect a beam I work out, there will still be some spread. I can[50] make it mighty tight though, if I make my surface a perfect parabola. But if I send a million horse, I have to handle it, and a ship can't stand several hundred thousand horsepower roaming around loose as heat, let alone the weapon itself. The thing will be worse to me than to him.

"I figured there was something worth investigating in those fields we developed on our magnetic shield work. They had to do, you know, with light, and radiant energy. There must be some reason why a metal reflects. Further, though we can't get down to the basic root of matter, the atom, yet, we can play around just about as we please with molecules and molecular forces. But it is molecular force that determines whether light and radiant energy of that caliber shall be reflected or transmitted. Take aluminum as an example. In the metallic molecule state, the metal will reflect pretty well. But volatilize it, and it becomes transparent. All gases are transparent, all metals reflective. Then the secret of perfect reflection lies at a molecular level in the organization of matter, and is within our reach. Well—this thing was supposed to make that piece of silver reflective. I missed it that time." He sighed. "I suppose I'll have to try again."

"I should think you'd use tungsten for that. If you do have a slight leak, that would handle the heat."

"No, it would hold it. Silver is a better conductor of heat. But the darned thing won't work."

"Your other scheme has." Faragaut laughed. "I came out principally for some signatures. IP wants one hundred thousand tons of mercury. I've sold most of mine already in the open market. You want to sell?"

"Certainly. And I told you my price."

"I know," sighed Faragaut. "It seems a shame though. Those IP board men would pay higher. And they're so damn tight it seems a crime not to make 'em pay up when they have to."

"The IP will need the money worse elsewhere. Where do I—oh, here?"[51]

"Right. I'll be out again this evening. The regular group will be here?"

Kendall nodded as he signed in triplicate.

That evening, Buck had found the trouble in his apparatus, for as he well knew, the theory was right, only the practical apparatus needed changing. Before the group composed of Faragaut, McLaurin and the members of Kendall's "bank," he demonstrated it.

It was merely a small, model apparatus, with a mirror of space-strained silver that was an absolutely perfect reflector. The mirror had been ground out of a block of silver one foot deep, by four inches square, carefully annealed, and the work had all been done in a cooling bath. The result was a mirror that was so nearly a perfect paraboloid that the beam held sharp and absolutely tight for the half-mile range they tested it on. At the projector it was three and one-half inches in diameter. At the target, it was three and fifty-two one hundredths inches in diameter.

"Well, you've got the mirror, what are you going to reflect with it now?" asked McLaurin. "The greatest problem is getting a radiant source, isn't it? You can't get a temperature above about ten thousand degrees, and maintain it very long, can you?"

"Why not?" Kendall smiled.

"It'll volatilize and leave the scene of action, won't it?"

"What if it's a gaseous source already?"

"What? Just a gas-flame? That won't give you the point source you need. You're using just a spotlight here, with a Moregan Point-light. That won't give you energy, and if you use a gas-flame, the spread will be so great, that no matter how perfectly you figure your mirror, it won't beam."

"The answer is easy. Not an ordinary gas-flame—a very extra-special kind of gas-flame. Know anything about Renwright's ionization-work?"

"Renwright—he's an IP man isn't he?"

"Right. He's developed a system, which, thanks to the[52] power we can get in that atostor, will sextuply ionize oxygen gas. Now: what does that mean?"

"Spirits of space! Concentrated essence of energy!"

"Right. And in preparation, Cole here had one made up for me. That—and something else. We'll just hook it up—"

With Devin's aid, Kendall attached the second apparatus, a larger device into which the silver block with its mirror surface fitted. With the uttermost care, the two physicists lined it up. Two projectors pointed toward each other at an angle, the base angles of a triangle, whose

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