should merit better treatment than this.

‘Master Failwright, all I shall say is that if you place your investments in a wooden eggshell, so very vulnerable to every turn of tide and wind and roguery,’ Helmess continued, ‘and if you fail to make provision for an escort or a guard, then on your head be it. On the heads, likewise, of all who cast their money onto the waves. That is why I buy Spiderlands goods imported by way of Helleron, Merro and Tark. They may take longer to reach the markets than your ship-borne cargoes, but at least they seldom suffer from piracy, and no rail automotive has ever sunk without trace.’

The laughter and approval sounded whole-hearted from most, though a little uncertain from Drillen’s people. As the furious Failwright stalked from the chamber, Stenwold thought, I, too, have walked out like that, but I think I chose a worthier issue. Then the thought of the news from Khanaphes reclaimed him, even as Partreyn announced that any more causes must wait until the morrow, whereupon all thought of Failwright and the shipping magnates left him.

Nevertheless, Jodry Drillen snagged him by the door. ‘A word, old friend,’ he murmured.

‘Now is not the best time,’ Stenwold warned him. ‘You know-’

‘The Khanaphes expedition? Of course I know,’ the fat Assembler confirmed. He spread his hands in a helpless gesture. ‘If you cannot give me a few moments of your time to impart a warning, Stenwold, then by all means go, but…’

‘Jodry?’

‘There is a matter on the horizon, and you are more than likely to be accused in it.’

Stenwold looked at him levelly. And how are you trying to twist me now, Jodry? ‘Be quick, then.’

‘As a beggar’s supper. Come, let’s find a room.’ Jodry commandeered one of the Amphiophos staff to fetch them some wine, and ensconced himself in a little reading room near the debating chamber. ‘While you’ve been playing nice with the Vekken we’ve had our own military dictatorship to worry about. I’ve been keeping the pot from boiling over on this one, but now your name’s come into it. I’m talking about the Merchant Companies, Stenwold.’

‘What about them?’

‘The Companies’ was the unofficial name given to the various groups of Collegium citizens put under arms during the recent war against the Empire. They had been tradesmen and merchants and itinerant mercenaries organized by profession or by place of residence, and had become the nearest the city had ever known to a standing army. At the end of the war, most had quietly gone back to their civilian lives, perhaps with a pike stowed in the attic or a sword displayed over the mantelpiece.

‘For most of them? Nothing.’ Jodry paused to receive the wine from the servant, and poured them out two bowls. ‘Three Companies have yet to disband, however, and there have been calls to have them formally abolished.’

Stenwold’s mind was still on his anticipated guests, news of Che. ‘Get to the point, Jodry. Which three?’

‘Outwright’s Pike and Shot, for one,’ Jodry revealed.

‘Well, Janos Outwright was always an exhibitionist.’ Stenwold dismissed the whole idea airily with a wave of his hand.

‘The Coldstone Company, for another,’ the other man went on patiently.

Stenwold groaned at that. Coldstone Street had been the furthest intrusion of the Vekken army into Collegium. The men and women who lived there had brought half their own houses tumbling down onto the invaders, then fought as fiercely as Mantids, as doggedly as the Ant-kinden themselves. When the call had gone out to confront the Empire, the Coldstone Company had been there, not line soldiers but ragged skirmishers, ambushers and desperados. They had made a name for themselves as Collegium’s most stubborn and least principled defenders. Stenwold supposed he should not now be surprised.

‘And the third?’ he prompted.

‘Aha, well.’ Jodry coughed away a smile. ‘They call themselves “Maker’s Own”.’

A pause. ‘Do they indeed?’

‘Indeed they do.’ The fat man fixed Stenwold with a measuring eye. ‘You might recall them. You took them out with you that time you somehow convinced the Imperial Second to pack its bags and go home.’

‘You know what…’ Stenwold started, and then reread Jodry’s expression. ‘You don’t think…? Jodry, I have not encouraged any such company. Nobody even thought to tell me they were making free with my name.’

‘I believe you,’ Jodry said drily, ‘but who else will is another matter. I had their Chief Officer Padstock here three days ago declaring that, whenever you called for them, they would be ready: that they were just waiting for your word to march on… well, pretty much anywhere, I think. The Amphiophos included. If you ever wanted to become Tyrant of Collegium, this is certainly your chance.’

Stenwold looked down at his hands. So much misplaced loyalty, and yet… ‘And there are now calls to have them all disbanded.’

‘Of course. Many in the Assembly are somewhat concerned at the prospect of bands of armed militia roaming our city unchecked. Of course, they haven’t really thought it through. At the moment the Companies are at least paying lip-service to the idea of civic duty. Disband them and you instantly create three small private armies with a good reason to dislike the Assembly. Then we’d have to pass some law forbidding citizens to own weapons, or some such, and then…’

‘Then we’d probably be just about ready for the next move from the Empire,’ Stenwold confirmed. ‘Not to mention that most visitors from, well, from almost anywhere would come with a sword at their belts, and it would be a fine state of affairs to have everyone in Collegium go armed except its own people.’ He took a deep breath.

‘But we can hardly tolerate private armies in Collegium, either,’ Jodry pointed out. ‘If they’re not disbanded then, soon enough, every Assembler and every magnate will want his own band of cut-throats. Can you imagine what Helmess Broiler would do with a hundred brigands operating under his banner?’

‘So what’s your plan?’

‘I dearly wish I had a plan, right now,’ Jodry said. ‘I’ve met with Outwright and the other chief officers, and they’re making demands, and I’ve met with the Assemblers who want them disbanded, and they’re making demands, and now both sides are starting to mention you.’

‘Well, I can see how it’s my problem,’ Stenwold allowed, ‘but how is it yours?’

‘Because I plan to be Speaker soon enough, and then all the city’s problems become my problems. I want you to back me, Stenwold, because you’re the war hero. The Companies will listen to you.’

Stenwold stared at him a long time. ‘Will you disband them?’

‘I don’t know,’ Jodry admitted. ‘I’m caught between pincers right now, and trying to squirm my way out.’

‘Then, when you find your way out, talk to me, and I’ll decide if I’ll back you.’

For a moment Jodry regarded him sternly, obviously about to deliver a pre-prepared bout of disappointment or chiding, but then he nodded. ‘Fair,’ he granted, ‘but you should apply your mind to it, too. After all, with all your constant talk of the Empire, the future of Collegium’s militia should be of prime concern to you. Anyway, off home with you. I hear you’ve got guests.’

‘Guests, yes.’ And the urgency flooded back: Khanaphes. News of Che. Stenwold nodded hastily to Jodry and hurried off.

Three

Stenwold’s desk had moved house with him twice. It had been part of his life for twelve years, now, through all those hard years of struggle: his attempts to open the eyes of the Assembly to the threat of the Empire; his attempts to second-guess the Rekef; the deployment of his agents and his intelligence-gathering – all played out on this same scratched desktop.

He had returned to his trade, or never left it. It was not the Empire that obsessed him, nor even the Vekken. He was using his profession for ends as selfish and personal as those of any profiteering merchant. He was trying to find his own, but the world was large, and those in it so very small, and he knew now that she did not want to

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