em to be opposing each other," he observed.

"Does seem like it."

"Perhaps we could reach an understanding--privately. As it stands, we
are running the price up."

"I can stand it so far," said Mr. McGinity.

"But we are cutting into each other. If you have reached your top figure
I will give you five hundred on it."

"I haven't any top figure--except the value of the property to me."

"You have bid all the property is worth."

Mr. McGinity grinned. "Then naturally you won't bid any more," said he.

"I have--er--sentimental reasons for desiring this property. You won't
enter into any arrangement?"

"Not just now."

"Very well," said Mr. Braden. "Sixteen thousand, five hundred, Mr.
Sheriff."

"Seventeen," said Mr. McGinity, idly creasing his hat.

Again Mr. Braden conferred with Parks. He raised the bid five hundred,
and again the stranger tilted it. The latter did so nonchalantly.
Between bids he conversed with his friend. But when Mr. Braden had bid
nineteen thousand, five hundred, he shot it to twenty-one thousand.

Though the perspiration stood upon Mr. Braden's brow, his pedal
extremities began to suffer from cold. He had not expected any
opposition. The conditions of sale were stringent, as he had intended
them to be, with a view of choking off others; but just then, though few
knew it, certain unfortunate speculations had strained his credit very
badly. Twenty-one thousand was a large sum, more than he could count on
with certainty unless he had time to raise more on the security of the
property itself, even though part of it was his mortgage claim. But he
wanted the property very badly--needed it, in fact. Who the deuce was
this McGinity?

And then, suddenly, he saw light. "McGinity" was the translation of
certain hieroglyphics appended to letters he had received from the
Northern Airline. He had translated them into "McKinley," but with
considerable doubt. So his competitor for possession of the Mackay ranch
was the Airline itself!

So that was what he was up against! Mackay, somehow, must have gotten
wind of his intentions, and himself entered into negotiations with the
railway; and these must have reached a definite point.

It was a difficult situation for Mr. Braden. He saw his dream of carving
up a choice townsite--of seeing it grow in value by leaps and bounds--go
glimmering. He hated to drop out. But what was the use of going on?
McGinity would bid up to whatever he thought the proposi