rtgage from the bank."

"Explain the reason, John."

"Well, I figured that eventually I would have to foreclose on old Don
Miguel Farrel, and it would require approximately two years after that
before my irrigation system would be completed and the valley lands
ready for colonization. I was tolerably certain I would never restock
the range with cattle, and I knew Loustalot would buy several thousand
young sheep and run them on the Palomar, provided I leased the
grazing-privilege to him for two years at a reasonable figure. I was
here, under authority of a court order, to conserve the estate from
waste, and my attorney assured me that, under that order, I had
authority to use my own judgment in the administration of the estate,
following the order of foreclosure. Now young Farrel shows up alive,
and that will nullify my suit for foreclosure. It also nullifies my
lease to Loustalot."

"I'm quite certain that fiery Don Mike will never consent to the lease,
John," his wife remarked.

"If he declines to approve the lease, I shall be quite embarrassed I
fear, Kate. You see, dear, Loustalot bought about fifteen thousand
sheep to pasture on the Palomar, and now he's going to find himself in
the unenviable position of having the sheep but no pasture. He'll
probably sue me to recover his loss, if any."

"It's too bad you didn't wait ten days before signing that lease, John."

"Yes," he replied, a trifle testily. "But we all were convinced that
young Farrel had been killed in Siberia."

"But you hadn't completed your title to this ranch, John?"

"You wouldn't murder a man who was going to commit suicide, would you?
The ranch was as good as mine. If I had waited to make absolutely
certain Farrel was dead, the wait might have cost me fifty thousand
dollars. I rented the ranch at fifty cents per acre."

"One hundred thousand acres, more or less, for two years, at fifty
cents per acre per annum. So, instead of making fifty thousand you've
lost that sum," his wife mused aloud.

"I've lost one hundred thousand," he corrected. "A one-year lease is
not desirable; Loustalot was my sole client, and I've lost him for
good."

"Why despair, John? I've a notion that if you give Don Mike fifty
thousand dollars to confirm Loustalot in the lease, he will forget his
enmity and agree to the lease. That would, at least, prevent a
law-suit."

Parker's face brightened.

"I might do that," he assented. "The title will rema