"That," said Keith, "I shall not disclose until my standing in the matter is a.s.sured."

"What do you want?" growled Neil.

"Fifty per cent of the profits, if you go in."

"What do you want of me?"

"The capital."

"What is the scheme?"

"That I cannot tell you without some a.s.surance of your good intention."

"What do you expect?" rasped Neil, "that I go into this blind?"

"I have prepared this paper," said Keith, handing him a doc.u.ment.

Neil glanced over the paper, then read it through slowly, with great care. When he had finished, he looked up at Keith, and there was a gleam of admiration in his frosty eye.

"You are a lawyer, I take it?" he surmised.

Keith nodded. Neil went over the doc.u.ment for the third time.

"And a good one," added Neil. "This is watertight. It seems to be a contract agreeing to the division you suggest, _providing_ I go into the scheme. Very well, I'll sign this." He raised his voice. "Samuels, come in and witness this. Now, what is the scheme?"

Keith produced another paper.

"It is written out in detail here."

Neil reached for it, but Keith drew it back.

"One moment."

He turned it over on the blank side and wrote:

"This is in full the financial deal referred to in contract entered into this 7th of June, 1852, by Malcolm Neil and Milton Keith."

To this he appended his signature, then handed the pen to Neil.

"Sign," he requested.

Neil took the pen, but hesitated for some moments, his alert brain seeking some way out. Finally and grudgingly he signed. Then he leaned back in his chair, eying Keith with rather a wintry humour, though he made no comment. He reached again for the paper, but Keith put his hand on it.

"What more do you want?" inquired Neil in amused tones. His sense of humour had been touched on its only vulnerable point. He appreciated keen and subtle practice when he saw it.

"Not a thing," laughed Keith, "but a few words of explanation before you read that will make it more easily understood. Can you tell me how much water lots are worth?"

"Five to eight thousand for fifty varas."

"All right. I've bought ten fifty vara lots at sheriff's sale for five thousand dollars."

Neil's eye went cold.

"I've heard of that. Your t.i.tle is no good. The reason you got them so cheaply was that n.o.body would bid because of that."

"That's for the courts to decide. The fact remains that I've a t.i.tle, even though clouded, at $500 per lot."

"Proceed."

"Well, the commissioners are now advertising a sale of these same lots at auction on the 15th."

"So I see."

"Well," said Keith softly, "it strikes me that whoever buys these lots then is due for a heap of trouble."

"How so?"

"My t.i.tle from the sheriff may be clouded, but it will be contested against the t.i.tle given at that sale. The purchaser will have to defend himself up to the highest court. I can promise him a good fight."

Neil was now watching him steadily,

"If that fact could be widely advertised," went on Keith slowly, "by way of a threat, so to speak, it strikes me it would be very apt to discourage bidding at the commissioners' sale. n.o.body wants to buy a lot of lawsuits, at any price. In absence of compet.i.tion, a fifty vara lot might be sold for as low as--say $500."

Neil nodded, Keith leaned forward.

"Now here's my real idea: suppose _I_ buy in against this timid bidding. Suppose _I_ am the one who gets the commissioners' t.i.tle for $500. Then I have both t.i.tles. And I am not likely to contest against myself. It's cost me $1,000 per lot--$500 at each sale--a profit of from $4,000 to $7,000 on each lot."

He leaned back. Malcolm Neil sat like a graven image, no expression showing on his flintlike face nor in his eyes. At length he chuckled harshly. Then, and not until then, Keith proceeded:

"But that isn't all. There's plenty more scrip afloat. If you can buy up as much of it as you can sc.r.a.pe together, I'll get judgment for it in the courts, and we can enlarge the deal until somebody smells a rat.

We need several things."

"What?"

"Secrecy."

Neil made no reply, but the lines of his mouth straightened.

"Influence to push matters along in official circles."

"Matters will be pushed along."

"A newspaper."

"Leave that to me."

"Agents--not known to be connected with us."

Neil nodded.