“This,” said Horton solemnly, “is—­all of them.  It’s the square thing.  Is there any reason why a man shouldn’t do what is right because it suits him?  Anyway, it needn’t worry you, because you can just sit up and watch the circus begin.”

“Just one question.  Was Damer the man who rode out for the railroad one snowy night, shortly before I started after Harry?”

Horton nodded, and wondered a little at the change in his companion, for there was a little flash in Seaforth’s eyes and his voice had a ring.  “Then,” he said grimly, “I’m going to take a hand in, but there are several good reasons why we should not tell Harry.”

It was a week later when Forel came home one night looking somewhat anxious and depressed.  He said little during the evening meal, but after it spoke to his wife alone, and Mrs. Forel came upon Alice Deringham soon after she left him.

“I’m not going to get the new ponies after all,” she said.  “Poor Tom has been unfortunate again.”

“I am sorry,” said Alice Deringham.  “You mean in the city?”

“Yes,” said Mrs. Forel with a little sigh.  “He is always a trifle sanguine, and he put a good many dollars into a venture Mr. Alton recommended.  Tom expected a good deal from it—­but the dollars have all gone.”

Alice Deringham did not look at the speaker.  “They have lost the money?”

“Well,” said Mrs. Forel, “I believe they will do.  I don’t understand all of it, but Tom tells me that he can’t see any hope for Alton unless a new railroad’s built, or the Government does something for the Somasco country, and that does not seem likely.”

“Please tell me all you know.”

Mrs. Forel looked thoughtful.  “It isn’t a great deal.  The land and ranches up at Somasco are not worth very much just now, but Alton persuaded Tom they would be presently, and he helped Alton to borrow more dollars from everybody who would lend them.  Then they built mills and things which will not be much use to anybody unless a railroad comes in.  The people would only lend him the money for a little while, and Alton had hoped to pay them out of a silver mine, but Hallam, it seems, has been working against him and got somebody to relocate the mine because Alton did not get there in time.  Now unless Alton and his company can pay those dollars back the other people will take all he has away from him, and if the railroad is ever built it is they or Hallam, who has been trying to buy the mortgages from them, who will benefit.”

“But,” said Alice Deringham, “how was it that Mr. Alton did not make sure of the mine?”

“That is just what puzzles Tom.  He stayed down here too long, and then there was a flood or something that delayed him.  Still, if he had gone when he intended he would have been in time.”

Mrs. Forel glanced at her companion curiously, but the girl sat very still with her face turned aside.  It was almost a minute before she spoke again.