gerald purchased a horse, and kept on his way to ransom with joshua burdoch. after some reflection he told his yankee friend his business. the latter promised him his assistance if required.

"that man, the superintendent, is a crafty old fox," he said. "between us we must circumvent him. what is his name?"

"nelson hawk."

"when we get to ransom we must make inquiries and learn all we can before acting. it seems to me it is rather a heavy responsibility for you!"

"so it is, and i am glad to have your advice and assistance."

"it will be fun for me to outwit the old fox!"

they speedily reached ransom. it was entirely a mining town. the houses of the miners, with the hotel and store, constituted the town. gerald stayed at the hotel, which he found a fair one for such a place. his room and mr. burdoch's joined. if mr. burdoch had any business he did not mention it, except to say that he had a few dollars, and might invest if he found anything worth buying.

among the boarders at the ransom house was a small, thin, shriveled man, with a wrinkled face and a pair of sharp, crafty eyes, whose name on the register was matthew grote. he appeared to have money, and it was currently reported that he wanted to make an investment.

on the evening of their arrival, nelson hawk, the superintendent of the mine, called, and, taking a seat in the public room, began to converse with grote. gerald conjectured that this must be the man who wanted to buy the mine. he sat down about ten feet from the pair, and appeared to be absorbed in a paper which he had picked up in the office. grote and hawk had no suspicion that the boy, whom they considered of small importance, was a listener to their conversation, and spoke in their ordinary tone of voice.

"have you heard from old nixon, mr. hawk?" asked grote.

"yes. i received a letter yesterday."

"what does he say?"

"that he can't come on. his health will not admit of it."

"will he sell you his interest?"

"he says he will take the offer into consideration, and will let me know soon."

"i wish the old crank would hurry up. does he express any doubts about your statements as to the depreciation in value?"

"no. why should he? he knows nothing about it except what i tell him."

"but suppose these stories should be true?"

"what do you mean?"

"that the mine is falling off in the amount of its output."

"my dear sir, you are not in earnest. why, the mine was never in better condition than at present. our output last month was greater than ever before. a half share is well worth the forty thousand dollars i require. why, if you buy you can make fifty per cent. in one year. i can almost guarantee that."

"why, then, are you willing to sell your share?"

"because i want to divide the responsibility. besides, i am short of ready money. i should like, if i get hold of nixon's share, to sell the whole thing for seventy-five thousand dollars. i am tired of this country, and i want to go back to my eastern home."

"well, we will see. i might make up my mind to buy the entire mine if i find that your statements are correct. how soon do you think mr. nixon will make up his mind?"

"very soon. if not, i will write him again."

"the sooner the better."

here the twain parted. gerald had heard all that he needed. he saw that a stupendous fraud was contemplated, of which mr. nixon was to be the victim. hawk had offered him twenty thousand dollars for his half interest, and agreed conditionally to sell it to grote for forty thousand. this would give the superintendent a very neat profit.

mr. burdoch had not heard this conversation. had he been within hearing, they would have been more careful in their speech. as to gerald, they looked upon him as a mere boy, and did not feel it necessary to be on their guard.

gerald, however, lost no time in imparting the information he had obtained to mr. burdoch.

"the confounded rascal!" exclaimed the yankee. "he has got up a very pretty scheme for fleecing your employer. so he says the mine is doing well?"

"never better. he says a half interest is well worth forty thousand dollars."

"humph! it may be worth looking up. i might decide to buy the mine myself."

gerald regarded his companion with surprise. he had not looked upon him as a rich man, but thought he might be worth one or two thousand dollars.

"do you really mean it?" he asked.

"certainly i do."

"i did not suppose——" here gerald hesitated.

"oh, i see—you didn't think i had money enough. well, gerald, i don't mind telling you i could buy two such mines as this one here. i ain't no dude, but i've got the gold."