nothing. If we deal, you shall have something in return for your
interest. This eighty of mine is worth a hundred dollars an
acre--eight thousand; it's mortgaged for five thousand, which leaves
an equity of three thousand; on it are good buildings and it's rented
until next March. You could then take possession. It's a good farm,
and with the money you'll have from the sale of your sheep you can
make a good start on the place, which is in the corn and wheat
section. My equity of three thousand isn't worth, to be sure, anything
like what you paid Menocal for this ranch, but it's something--and all
that I can afford to give."

The rancher stared at Lee as if he could not credit his ears.

"Are you in earnest?" he demanded, at last. "Why I've just told you
there's no water here. A man can't make a living on the place, and the
mortgage is due next week."

"I'll pay off the mortgage; I've enough money saved up to do that."

"But, man, without water----"

"Listen, Stevenson, I know exactly what I'm about," the engineer
interrupted. "This thing's a gamble with me, I admit, but you needn't
do any worrying on that score. I'm going in with my eyes open; I know
the risks and am willing to take them. What about my offer?"

Stevenson, still gazing at his visitor in wonderment, was at a loss;
he rubbed his knuckles doubtfully, hitched about on his chair and knit
his brows, perplexed, hesitating, as was his manner when presented
with any new affair, even with one palpably to his advantage. It was