"What is your price?"

"The ranch isn't for sale. It'll be worth a quarter of a million when
it's watered. No, it's not on the market at present."

A deep sigh issued from the banker's lips; he blinked slowly several
times before speaking, with a resigned countenance.

"I see you've some capitalists behind you," said he, "for it will take
money to build a dam and a canal. If they saw a reasonable profit
without the trouble of construction, no doubt they would be willing to
sell."

"Put your mind at rest, Mr. Menocal; you have only me to deal with;
there are no capitalists running this show yet. But the water system
will be built, never fear."

Menocal's eyebrows went up. "Ah, so?" he asked, softly.

Then his face smoothed itself out; and Bryant realized that he had
been led into a betrayal of importance.

"You would do well to name a price, Mr. Bryant."

"No; I propose to develop the ranch," the engineer answered, curtly.
"Is the release made out? If it is, I'll be on my way."

"It's too bad you refuse, too bad," Menocal said, with a lugubrious
shake of his head.