ty
thousand dollars."

Phil and Jim scoured the town, but there were no buyers at the
figures, for they were rocket-high.

They wired again, quoting best offers, but no answer came that
afternoon.

On the day following, Graham Brenchfield, stout and prosperous-looking
as ever, stepped inside the office for the first time, as bold as
brass too.

"Nice day, boys!" he shouted familiarly. "Would like to see you two
for a minute."

To Phil's inquiring eyes, he appeared slightly flustered.

"Come in here!" said Jim, beckoning him to the inner office, where
Phil followed, closing the door behind him.

"You fellows have a pretty fine lay-out here," the Mayor began,
chewing at his cigar.

"Pretty fine!"

"Guess you've got us all skinned now, Phil. Wouldn't like to take me
in on that old fifty-fifty proposition?" he inquired sarcastically.

"If you have come in on any funny stuff," answered Phil, rising, "then
you'd better get outside. We haven't the time for it."

"Shucks! Don't get sore! I don't want to make you mad to-day. I've had
a scrap with the bank this morning and I'm going to make them sit up
for a while and guess."

"That is quite a big proposition."

"All the better! I hear you folks have lots of money to loan?" he
queried.

"Yes!--and what?" put in Jim.

"I wish to borrow some."

"Yes!"

"I'm paying eight percent, with first-class security."

"Ugh-huh!"

"I want forty thousand dollars for two years."

"Ay!"

"Can I have it?"

"No!"

Brenchfield looked sidelong at Jim, then at Phil; and back again at
Jim.

"Good Lord! You can have the best ranch in the country as security."

"On second mortgage?"

"Sure! Why not? The first mortgage don't amount to a hill of beans.
You could buy it out any old time."

"No, thanks! Not to-day! Man, but you've got your nerve! What do you
think we are, anyway?--a charity institution?" growled Jim.

Brenchfield flushed, but he swallowed his anger.

"Would the bank loan you on second mortgage?" pursued Jim.

"No!--guess not!"

"Well,--neither will the Langford-Ralston Company."

"I'll give you ten percent."

"Not if you made it twenty percent."

Brenchfield sat in silence for a moment. Suddenly he seemed to make a
resolve.

"Will you lend me forty thousand dollars on first mortgage on my
Redmans Ranch?"

Jim gasped, and Phil sucked with his lips, for the Redmans Ranch was
Brenchfield's one best bet; it was one of the finest and largest