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 own—Mr. Hatsell Garrard. This gentleman had accompanied Mr. Goldsmith from England, and, it was said, had chosen for him the celebrated "Cornborough," a son of Tramp, a grandson of Whalebone, and one of the grandest horses that ever looked through a bridle. A good judge of stock, both in England and Australia, how Mr. Garrard came to buy such a place is "one of the mysteries." The terms were easy, probably, and the price tempting; he thought "it couldn't hurt at the price." The homestead, too (Mr. Cunningham was a great improver), was now very comfortable. That and the name together did it.

Mr. Garrard, who was a most genial, jolly, but withal tolerably shrewd old boy, kept the run for a year or two, just selling cattle enough to pay his way, when he dropped on a chance to "unload" and make a sale to Messrs. Moutray and Peyton.

The former, like the seller, had abounding experience, had lived on an adjoining run, was quite capable of managing his own affairs, yet he went into it with his eyes open. His only excuse was, that store cattle were worth £4 and £5 a head "after the gold," and he thought he saw his way. His partner, Mr. Peyton, was a young Englishman of good family, vigorous and ardent, just the man to succeed in Australia, one would have thought. He was told exactly and truly by his friends all the bad points of the run; but it was difficult in that day of high prices to find an investment for two or three thousand pounds, so he, being anxious to start, made the plunge. In a couple of years the partnership was dissolved, Moutray having