Monarch Utilities & Resources, Inc. bought and sold, traded and gave, made and destroyed. Its pattern of subsidiaries and holding companies was so complex that it demanded the full-time services of a 2nd Class Esper Accountant to trace the labyrinthine flow of its finances.

Reich entered his office, followed by his chief (Esper 3) secretary

and her staff, bearing the litter of the morning's work. "Dump it and jet," he growled. They deposited the papers and recording crystals on his desk and

departed hastily but without rancor. They were accustomed to his rages. Reich seated himself behind his desk, trembling with a fury that was already goring D'Courtney. Finally he muttered: "I'll give the bastard one more chance."

He unlocked his desk, opened the drawer-safe and withdrew the Executive's Code Book, restricted to the executive heads of the firms listed quadruple A-1-* by Lloyds. He found most of the material he required in the middle pages of the book:

QQBA ........ PARTNERSHIP RRCB ........ BOTH OUR

SSDC ........ BOTH YOUR TTED ........ MERGER UUFE ........ INTERESTS VVGF ........ INFORMATION WWHG ........ ACCEPT OFFER XXJH ........ GENERALLY KNOWN YYJI ........ SUGGEST ZZXJ ........ CONFIDENTIAL AALK ........ EQUAL BBML ........ CONTRACT

Marking his place in the code book, Reich flipped the v-phone on and said to the image of the interoffice operator: "Get me Code."

The screen dazzled and cut to a smokey room cluttered with books and coils of tape. A bleached man in a faded shirt glanced at the screen, then leaped to attention.

"Yes, Mr. Reich?" "Morning, Hassop. You look like you need a vacation." Make your

enemies by choice. "Take a week at Spaceland. Monarch expense." "Thank you, Mr. Reich. Thank you very much." "This one's confidential. To Craye D'Courtney. Send..." Reich

consulted the Code Book.