"Very well, Mr. Menocal, grant that it was. It but strengthens my
position. But let us pass to recent times; five years ago you passed
title to Stevenson with the water right as a reality when you sold him
the ranch; your son is water inspector for this district, or was until
a year ago, anyway, making reports to the state. Did he say anything
in them about this canal or water right having ceased to exist? No."

"His reports were largely routine," the other stated, regaining his
composure.

"Still they were official. I'm simply pointing out to you, Mr.
Menocal, why it will be unwise for you to endeavour to have this water
appropriation cancelled. You sold it to Stevenson as a live right--the
deed proves that; and now that I have the property I shall make it
such in fact. You've been using the water for other land, which
possibly will suffer afterward, but that doesn't affect the case in
the least. That water is a valuable property; when it's delivered on
my ranch, the land will be worth fifty dollars an acre. You may have
calculated that no one who got hold of the Perro Creek ranch ever
would or could use the water, but in that you were in error: I can and
will use it, and you must understand that fact."

Menocal fell into consideration. He folded his hands across his
stomach and remained thus, pondering, occasionally lifting his lids
for a scrutiny of Bryant's face.

"I'll give you ten thousand cash for the place as it stands and hand
you my check now," he said, at length.

"Not to-day, thank you," the engineer replied.