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  Cowed by the man’s grand speech, the attackers faltered. Just then, the whistle of the city guard sounded.

  The men seemed to realize this was their chance to escape. They soon scattered.

  Within the gates, everything was still for a while. At length, the sounds of footfalls and guard whistles faded, and the man who’d delivered the impressive speech finally spoke up again.

  “That’s quite a commotion so late at night. What’s going on here?”

  “My humblest apologies, sir. I offer my deepest gratitude for your sanctuary.”

  “Save your thanks for the Grand Marquis of Milone. What did they want?”

  “I expect they were from the Medio Company. Undoubtedly they are displeased with the deal I’ve struck with your company.”

  “Oh ho. You’re a merchant who’ll take risks. I haven’t seen many of your kind lately.”

  Lawrence wiped the sweat from his forehead and smiled. “It's my partner that’s the reckless one.”

  “Must be rough.”

  “I don’t want to think about it, but that same partner may have been captured. Would it be possible for me to speak with the branch manager, Sir Marheit?”

  “We’re a foreign company. Raids and arson are a fact of life for us. He’s already been contacted,” said the man with a heart) laugh.

  It drove home to Lawrence how formidable the man who ran this operation must be.

  Perhaps they really would be able to guarantee his safety.

  Uncertainty swirled in his mind, but Lawrence soon composed himself. He would get them to guarantee not only his safety, but his profit, too.

  His pride as a merchant and his debt to Holo, who’d taken such a risk for him, demanded no less.

  Lawrence took a deep breath.

  “Anyway, come inside, will you? Even wine gets better with time,” said the man. Lawrence, thinking about Holo as he was, found it hard to calm himself.

  Still, the old man was used to situations like this, and seeing Lawrence’s agitated state, he offered some consolation. “In any case, if your partner’s all right, he’ll come here, eh? As long as you give us his name and description, we’ll shelter him even if the Church itself comes after him!”

  It was an exaggeration, but it put Lawrence at ease.

  “My thanks. Surely...no, without question she’ll come. Her name is Holo. She’s a small girl, and wears a hood over her head.”

  “A girl, eh? Is she a beauty?”

  Lawrence understood that the man was asking in order to ease his fears, so he smiled and answered. “Of ten people, all of them would turn to look at her.”

  “Ha-ha-ha! That’s something to look forward to, then,” laughed (he big man heartily, and he led Lawrence into the company building.

  “Eight or nine out of ten of them will be Medio men.”

  Although he had probably just been awakened, Marheit’s manner was no different than it had been earlier in the day as he skipped the pleasantries.

  “I agree. They have discovered that I came to you for assistance with my plan for the silver coin and are trying to stop us.”

  Lawrence didn’t want his agitation to be obvious, but he couldn’t help worrying about Holo as he talked. Holo being who she was, he thought there was a chance she’d escaped, but it was best to assume the worst. In any case, he needed guarantees of both his and Holo’s safety as fast as he could get them.

  And for that, he needed the Milone Company.

  “I believe my companion may have been captured. If so, it seems obvious to me that negotiations will be impossible. Will the Milone lend its aid?” asked Lawrence, only avoiding leaning over the table with effort. Marheit seemed deep in thought and did not face Lawrence.

  Finally he looked up, slowly.

  “You say your companion may have been captured?”

  “Yes.”

  “I see. After the commotion here, I sent some of my men to follow them. They reported seeing a girl taken, apparently against her will.”

  Despite more than half-expecting Marheit’s words, Lawrence felt them grab hold of his heart and shake him desperately.

  He swallowed his shock and managed to get some words out. “That is probably my companion, Holo. She acted as a decoy so I could make it here.”

  “I see. But what would make them want to capture your partner?”

  Lawrence had to almost physically restrain himself from shouting. He couldn’t afford to lose his temper in the presence of a man like Marheit. “I expect it’s because we joined with your company in trying to thwart their plans.”

  Marheit’s countenance remained impassive in spite of Lawrence’s heated response. He stared down at the table and appeared deep in thought.

  Lawrence, distressed, couldn’t help bouncing his leg impatiently. He was about to jump up from the chair and begin shouting when Marheit spoke again.

  “It’s a bit strange, though, don’t you think?”

  “What’s strange?!” demanded Lawrence, finally jumping out of his chair, causing Marheit to blink rapidly for a moment before regaining his composure.

  Marheit reached his hand out to his distressed visitor. “Please calm yourself. Something is strange about all this.”

  “What’s strange about it? Just as your company was able to easily check up on Zheren, it was simple for the Medio Company to see if anybody was interfering with their plan!”

  “...True, given that their headquarters are here...”

  “So what is strange?”

  “Indeed, I understand now. This truly is strange,” said Marheit. Lawrence had no choice but to hear him out. “I was thinking, how did they come to realize that you were conspiring with our company?”

  “Surely because I came here frequently. Also, if they noticed that you’d started collecting trenni silver, all they’d have to do is put two and two together.”

  “That is the strange part. You’re a traveling merchant, after all—visiting us several times to negotiate is entirely natural.”

  “But if they linked that to your company’s interest in trenni silver and the fact that I’m the one Zheren contacted...”

  “No, it’s still strange.”

  “Why?”

  Lawrence did not understand. Impatience colored his voice. “Naturally, the point at which we started gathering trenni silver was after we finished negotiating with you. Consider this, Mr. Lawrence: ‘I cannot say how it will happen, but if you collect trenni silver your profit is guaranteed.’ We certainly wouldn’t do anything based on that alone, would we?”

  “T-true . .”

  “The fact that we are indeed collecting trenni silver means we understand the entirety of this opportunity. Undoubtedly the Medio Company also knows this. There’s simply no reason to take you as hostages.”

  “Surely you don’t mean—”

  Marheit nodded, his face expressing sad regret. “I do. We already have all the information we need to turn a profit. What happens to you now is not our concern.”

  Feeling dizzy, Lawrence listed to one side. It was true. Lawrence was a single traveling merchant; no one was looking out for him.

  “I hope you will understand how difficult it is for me to say this. But we’ve already invested a significant amount of capital based on the information you brought us. The profit will be immense. If we must choose between bearing your grudge or giving up the return, then...Marheit sighed. “I’m sorry, but I must choose the former,” he said quietly. “Still...”

  Lawrence didn’t hear what Marheit said after that. In some small corner of his mind, he wondered if this was what it fell like to meet with bankruptcy.

  His arms, legs—indeed, his entire body—felt frozen. He wasn’t even sure if he was still breathing.

  He was now, as of this moment, abandoned by the Milone Company.

  Which meant Holo had also been abandoned; Holo, who’d given herself up to let him escape believing that Lawrence would be able to negotiate her rescue with the Milone Compa
ny.

  Lawrence recalled the expression on her face when she spoke of returning to the north country.

  When hostages had outlived their usefulness, their subsequent prospects were clear. Men were sold to slave ships and women to brothels.

  Although Holo had her wolf ears and tail, there were rich eccentrics who collected such “demon-possessed” girls. Undoubtedly the Medio Company knew one or two such collectors.

  Lawrence thought of Holo being sold—he thought of how a wealthy, demon-obsessed collector would treat such a girl.

  No. He would not allow it.

  Lawrence straightened himself in the chair and immediately began thinking. He had to save her.

  “Please wait,” he said after several moments. “If your company has come to this conclusion, surely the other side has done so as well.”

  The Medio Company wasn’t run by fools. They had gone after Lawrence and his companion and had dispatched many men to do it, even risking confrontation with the town guard.

  “Yes. That is what struck me as so strange. I hadn’t finished speaking, you see—if the need arises, I will bear the grudge that you would harbor toward the company.”

  Lawrence now remembered that Marheit had ended his statement with a “still” and hung his head in red-faced shame.

  “I can see that your companion is very precious to you. But letting your emotions dull your thinking is misplacing your priorities.”

  “My apologies.”

  “Not at all—if my wife were in danger, I, too, would likely find it impossible to calm myself,” Marheit said, smiling.

  Lawrence saw this and bowed his head again, though his heart thudded at the word “wife.” He realized that if Holo were a mere traveling companion, he would not be so upset, and Holo herself would not have sacrificed herself to help him escape.

  “Back to the problem at hand, then. Our opponent is a canny company that will not easily be thwarted. You and your partner have no theoretical value to them, yet they’ve targeted you—there must be a reason. Do you have any idea what it might be?”

  Lawrence did not have any such idea.

  When he thought the situation through, though, he realized that there must be some special reason for them to be captured.

  He mulled it over.

  There was only one possibility.

  “No, that can’t be ..”

  “Have you thought of something?”

  Lawrence had immediately dismissed the possibility when it first occurred to him. It simply couldn’t be—yet it was the only thing he could think of.

  “The profit before us is almost unimaginable. We need only realize it. If you’ve thought of something, no matter how trivial, please tell me.”

  Marheit’s request was entirely reasonable, but Lawrence’s realization was not something to be shared lightly.

  Lawrence thought about Holo, who was undeniably not human. Most people would call her a demon. Such “demons” were either hidden away at home or given over to the Church. Neither was any way to live. Once the Church cast its eye on such a per son, he or she would certainly be executed.

  Holo was indistinguishable from such a possessed individual. The Medio Company could use her to blackmail the Milone Company.

  If the Milone Company did not want it revealed to the Church that they’d had dealings with someone possessed by a demon, they would have to withdraw.

  If it came to an Inquisition, the Medio Company could righteously accuse the Milone Company and Lawrence of having entered into an evil contract with a demonic entity. It went without saying that Holo would be burned at the stake.

  Yet Lawrence still found himself skeptical.

  Who had discovered Holo’s wolf’s ears and tail, and when?

  Given Holo’s normal appearance, it wasn’t something easily discernible. He believed that no one except himself knew the truth of her identity.

  “Mr. Lawrence,” said Marheit, putting an end to Lawrence’s musings. “Have you thought of something?”

  Lawrence couldn’t help nodding at Marheit’s patient question, which meant he would now have to divulge the truth. But if the real reason for their pursuit was something else, he would have exposed Holo’s secret for naught.

  In the worse case, the Milone Company could turn the tables on the Medio Company by accusing them of using a demon girl to blackmail them.

  If that happened, there would be no hope for Holo.

  Marheit gazed seriously across the table.

  Lawrence saw no avenue of escape.

  But they were interrupted.

  “Excuse me,” said a Milone Company representative, entering the room.

  “What is it?”

  “We just received a letter. It regards our current situation.”

  The employee held out a neatly sealed envelope. Marheit took it and flipped it over. The sender’s name was missing, but it did have a destination.

  “ ‘To the wolf...and the forest in which it resides?’ ”

  In that instant, Lawrence realized he’d been right.

  “I’m sorry, but might I look at that letter first?”

  Marheit looked at Lawrence dubiously but at length nodded and handed the envelope over.

  Lawrence thanked him and, taking a deep breath, broke the seal.

  There was a letter inside and a bit of what might have been Holo’s brown fur.

  The letter was brief.

  “We have the wolf. The Church’s doors are always open. If you don’t want the wolf in your home, shut your doors and keep your family inside.”

  There was no longer any room for doubt.

  Lawrence returned the letter to Marheit. “My companion, Holo, is the wolf-god of the harvest,” he said in a wrung-out voice.

  Marheit’s eyes opened as wide as they ever got.

  Chapter 5

  Marheit was everything one would expect from a trader who’d opened a branch in a foreign land.

  Though initially shocked by Lawrence’s revelation, he soon calmed himself and began to think the situation through. He uttered not so much as a single word of blame for Holo, who’d been captured, or Lawrence, who’d made his escape. He was entirely focused on protecting the interests of the Milone Company and extracting any available profit from the situation.

  “There’s no doubting the threat implied by this letter. They wish you, Mr. Lawrence, to know that if you don’t want your partner given up to the Church you must stay inside and not interfere.”

  “They must want us to keep out of their way until their plan for the trenni silver is concluded, but that doesn’t mean they won’t still turn Holo in when they’re through.”

  “Quite right. Furthermore, we’ve already invested quite heavily in the coin. Pulling out now means our losses would be huge because the trenni is guaranteed to depreciate.”

  In such a situation, there was essentially no choice at all.

  They could sit and await ruin, or they could strike.

  The former was hardly an option.

  “I suppose this means we have no choice but to strike first,” said Lawrence.

  Marheit took a deep breath and nodded. “However, merely rescuing your companion won’t be enough. Even if we hide her here, once the Church gets involved, we’ll have no choice but to roll over and let them have their way She can’t hide as long as she’s in this city.”

  “What if we flee the city entirely?”

  “It’s a great plain as far as the eye can see, and even if you reached another city, there’s a chance you could be extradited. Then there’d be no hope for you at all.”

  They were cornered. Even meek compliance with the Medio Company’s demands would probably still result in Holo being delivered to the Church.

  There was no reason for them to avoid ruining a foreign company—in fact, the fewer competitors they had, the better.

  Yet striking first carried with it a host of difficulties. No—“difficult” was the wrong word. Every possibility available to
them was the height of recklessness.

  “Is there nothing we can do?” mused Marheit as if talking to himself. “At this rate, we won’t even be able to avoid unfounded accusations, to say nothing of actually making a profit.”

  Lawrence felt as if he were sitting on a carpet of needles as he listened to Marheit speak, but he bowed his head and listened—he would do whatever it took to bring about a favorable result. Merchants lacked the pride of knights or nobility. They were prepared to lick a stranger’s boots if it meant coming out ahead.

  So Lawrence did not hear sarcasm or scorn in Marheit’s words, simply analysis. He had clearly summarized the situation they now faced.

  “You’re saying we need some kind of card we can play against them.”

  “You could put it that way. But even if we invest more capital, it’s meager compared with what they stand to gain from trenni silver. So the problem can’t be solved with money. We could report their abduction of your companion to the Church, but that would cause problems for you, and you might even deliver an unfavorable testimony about our company.”

  “That...is quite possible.”

  There was no point in lying, so Lawrence told the truth. He simply couldn’t cut Holo loose, but if he did, unquestionably that would solve the problem.

  Marheit was undoubtedly aware of that fact. If it came down to it, he would certainly try to persuade Lawrence to take that option, though unsuccessfully. Lawrence knew he would choose death with Holo first.

  Though naturally he hoped he wouldn’t have to.

  This left him no alternative but to come up with some kind of plan to alter this indefensible position.

  “All I can think of,” Lawrence interjected, “is to finish negotiating the trenni silver deal and use the resulting profit as a trump card.”

  Marheit's eyes went wide at Lawrence’s proposal. He didn’t want to lose the Milone Company’s profit—that almost-magical return made possible by exploiting a depreciating currency—any more than Lawrence wanted to lose Holo.

  Such opportunities came around only once in a great while.

  That was what made Lawrence’s proposed trump card so potent. If it came down to it, the Medio Company would happily turn Holo over rather than lose the profit.