fortunately true," Parker assented, gravely.

"Oh, not so unfortunate as it is embarrassing and inconvenient. We
have always enjoyed life to the fullest, and, for that, only a fool
would have regret. Would you be willing to file a satisfaction of that
old mortgage and give me a new loan for five years for the amount now
due on the property? I could induce one of the big packing companies
to stake me to the cattle. All I would have to provide would be the
range, and satisfy them that I am honest and know my business. And I
can do that. Such an arrangement would give me time to negotiate a
sale of part of the ranch and pay up your mortgage."

"I am afraid that my present plans preclude consideration of that
suggestion," the banker replied, kindly, but none the less forcibly.

"I didn't think you would, but I thought I'd ask. As a general rule,
it pays to try anything once when a fellow is in as desperate case as I
am. My only hope, then, is that I may be able to sell the Farrel
equity in the ranch prior to the twenty-second day of November."

"That would seem to be your best course, Mr. Farrel."

"When does the redemption period expire?"

Parker squirmed slightly.

"That is a difficult question to answer, Mr. Farrel. It seems your
father was something of a lawyer--"

"Yes; he graduated in law. Why, nobody ever knew, for he never had the
slightest intention of practising it. I believe it must have been
because my grandfather, Michael Joseph I, had an idea that, since his
son was a gentleman, he ought to have a college degree and the right to
follow some genteel profession in case of disaster."

"Your father evidently kept abreast of the law," Parker laughed.
"Before entering suit for foreclosure, I notified him by registered
mail that the mortgage would not be renewed and made formal demand upon
him for payment in full. When he received the notice from the El Toro
postmaster to call for that registered letter, he must have suspected
its contents, for he immediately deeded the ranch to you and then
called for the registered letter."

Farrel began to chuckle.

"Good old dad!" he cried. "Put over a dirty Irish trick on you to gain
time!"

"He did. I do not blame him for it. I would have done the same thing
myself under the same circumstances." And Parker had the grace to join
in the laugh. "When I filed suit for foreclosure," he continued, "he
appeared in court and testified that the property be