“I’d wanted to run my own show for years. My wife was sick, had Hodgkins disease, and we never had any children. I guess I turned all my energy to shipping. Besides, after Niels refused to build any thousand-footers, I wanted to have a ship like this one.” He patted the guy ropes affectionately. “This is a beautiful ship. It took four years to build. Took me three years to put the financing together. But it’s worth it. These things run at about a third the cost of the old five-hundred-footers. The cargo space goes up almost as the square of the length—I can carry seven times the load of a five-hundred-foot vessel … Anyway, I wanted one very badly and I had to start my own company to get it.”

How badly? I wondered to myself. Badly enough to run a more sophisticated scam than he’d thought of thirty years ago and come up with the necessary capital? “What does a ship like this cost to build?”

“The Lucella ran just a hair under fifty million.”

“You float stock or bonds or what?”

“We did some of everything. Sheridan and Bemis coughed up their savings. I put mine in. The Fort Dearborn Trust owns the biggest chunk of this and we finally got them to arrange a series of loans with about ten other banks. Other people put in personal money. It’s a tremendous investment, and I want to make sure it carries a cargo every day between March 28 and January 1 so we can pay off the debt.”

He sat down next to me on the small bench and looked at me, his gray eyes probing. “But that isn’t what I came out here to say to you. I want to know why Niels brought up the story of my past. Not even Bemis and Sheridan know it, and if the tale had gotten around three years ago, I could never have built this beauty. If Niels wanted to hurt me, he could have done it then. So why did he tell you now?”

It was a good question. I stared into the churning water, trying to recall my conversation with Grafalk. Maybe he wanted to ventilate some of his pent-up bitterness against Bledsoe. It couldn’t have been from a desire to protect Phillips—he’d raised questions about Phillips, too.

“What do you know about the relationship between Grafalk and Clayton Phillips.”