set in in full blast, and all consumption of lumber stopped.  The high price had stimulated shipments from everywhere.  There was a big reaction in the price.  The first prominent failure in the city took place, I think it was Ward & Co., commission merchants and private bankers.  It was said it was owing to his large orders of shipments of lumber to that market.  He shot himself with a pistol in the morning in his bedroom and died, knowing that he could not meet his creditors if he went to his place of business.  About this time it was announced from Telegraph Hill that my vessel, with the houses, was entering the port two or three months after she was due, striking a glutted market.  I had four or five thousand dollars to raise to pay the freight on them to get possession of them, or I would lose the capital invested.  So instead of making $18,000 profit, which I might have made if they had come on time, I was running the risk of losing the capital invested in them.  Colonel Stevenson had selected six of them some time before, which he wanted for his New York of the Pacific, which he said he would make me an offer on as soon as they arrived.  I saw it was my only chance to save myself to close that sale.  I was at his office in the morning as soon as there was any probability of they being there.  I said to him:  “The houses have arrived.  I am ready to receive your offer for the six you selected.”  He said he had no money now.  I said I did not want any (which was a white lie).  I said I would take a draft on Prosper, Whetmore & Co., of New York city, for $3,000, payable in ninety days, and his note for the balance, on his own time.  He looked over the plan of the houses again.  He said he would not give but so much.  I said to him, that was not the question, what will you give?  He said I will give you that amount, naming the sum.  I said at once, they are sold, they are yours.  He gave me the draft on Whetmore & Co., for $3,000, payable in ninety days.  Just at this time, his partner, Dr. Parker, came in.  The colonel informed him he had bought six of my houses.  He said, you have made a mistake.  Lumber is in a glutted market.  It is falling rapidly.  The colonel said, that makes no difference now, I have bought them.  The colonel was considered rich.  No one there questioned the soundness of his draft.  I went with it to all the brokers in the city, but could get no offer for it.  I then went to Charley Minton, the agent of the steamer Senator.  I thought he could send it to New York to the owners of the steamer for its face value.  He said, the best he could do with me was to give me $2,250 for it.  Money was ten per cent a month, and scarce at that.  Three months time, at the rate of interest there, would be $900.  I said, I would take it.  He gave me a check on his broker for that amount.  He paid me in gold, $16 Spanish doubloon pieces.  I tied them up in my handkerchief, and went to McCondery & Co., and said to him, the vessel, with my houses, I see, are