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ld make up our minds to invest the modest balance at our bankers in this tempting bargain. I remember well that I found myself wishing we were not going to be _quite_ so rich; half our promised income would have been ample, I thought. My anxieties on that score turned out to have been, to say the least, premature. Not to make my story too long, I may briefly say that after making due allowance for the natural exaggeration of the owner, the run on Lake Wanaka's shores seemed certainly to offer many attractions. Besides thousands of acres of beautiful sheltered sheep country, it was said to possess a magnificent bush, in which sawyers were already hard at work. Of course all this timber would become our own, and we were to make so much a year by selling it. "How about the carriage?" inquired F---- cautiously, having visions of costly bullock-drays, and teams and drivers at fabulous wages. "Oh, the lake is your highway," replied the would-be seller, airily; "you have nothing to do but lash your felled trees together, as they do in the mahogany-growing countries, and set them afloat on the lake, they will thus form a natural raft, and cost you little or nothing to get down to a good market. You know the Dunstan diggings are just at the foot of the lake, and they haven't a stick there; timber is very badly wanted in those parts, not only for fuel and building, but also for slabbing the shafts which the miners sink." By the time the coffee was served F---- had made up his mind to buy the Lake Wanaka run; his business agent urging him strongly not to hesitate for a moment in securing such a chance. The negotiations reached thus far without the least hitch, but at this point F----said, "Well, I'll tell you what I'll do: we will start in a day or two and go straight up to this run and look round it, and if I find it anything like so good as you both make it out, I'll buy it on the spot." Never did that sociable little word "we" sound so delightful to my ears! "Then I am to come too," I thought to myself, but I prudently concealed from the company that I had ever had any misgivings on that point. However, the company did not concern themselves with my doubts and fears, for our two guests seemed much taken aback at this very matter-of-fact proposal of F----'s. "That won't do at all, my dear fellow," said the owner of the run; "I am going to England by the next mail steamer, which you know sails next week, and the reason I am
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