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292 business opportunity. He can take advantage of it without the slightest unfairness. It's a matter of plain business. You must pardon me for saying so, sir, but if you cared enough for the sentiment of holding this ranch together, you should have gone at it with some foresight. When you get deeply into debt, you have to pay, you know."

The Colonel was so shaken and preoccupied with the main issue that he did not rear his crest at the rebuke.

"Mr. Boyd made me an offer, which I refused," said the Colonel.

"If it was a good offer, you were foolish," stated Bates. "It was decent of him to do so, for he can get the ranch without your acceptance, if he wants."

"I do not see how," argued the Colonel, but weakly. "—nor why. He is a wealthy 'man."

"How!" repeated Bates, contemptuously. "Colonel, it is very evident that you are no business man. I can think of half a dozen ways how. And, why! He has a son, hasn't he, in the ranching business? Don't you suppose a fine property like this would come in handy. No, Colonel, don't fool yourself." He started to move away. "I'll go now and leave you to think it over. You would better come in with me. I can save you your homestead, of course, and a good big farm around it; and a tidy sum of money to live on. Come, now, that's better than passing over the whole thing, isn't it? Like your Spanish friends who used to own Las Flores?"

He continued to move away. The Colonel stared after him, apparently benumbed.

"I'm staying at Boyd's, if you want to get hold of me," added Bates. "I'm known as Brown, remember. Travelling incog." He glanced again keenly at the Colonel's motionless figure, then strode away briskly toward his horse.

Dolman lifted his spell. Aflame with indignation and excitement Daphne scrambled down from her perch and flung herself tempestuously on the Colonel.

"Oh godpapa, godpapa!" she cried. "I couldn't help but hear! I'd no idea! Why haven't you told me? I never heard anything so atrocious!"