John Putnam Thatcher, senior vice president of the Sloan Guaranty Trust, becomes involved with Parajians, Inc., the largest Oriental-rug business in the country and a major account of the Sloan. A violent rivalry in the Parajian family that results in two murders soon teaches Thatcher more than he cares to know about carpets and wall hangings. And it is only his famous logic and imperturbable cool that keep the rug from being pulled out from under them all.