The object of this early morning visit was about to be made apparent.  Bill returned to his position at the desk and lit another cigarette.  The suave manner of his unwelcome guest was dangerous.  He was prepared.  There was something almost feline in the attitude and the expression of the young rancher as he waited for the money-lender to proceed.  Perhaps Lablache understood him.  Perhaps his understanding warned him to adopt his best manner.  His usual method in dealing with his victims was hardly the same as he was now using.

“Well, what is this ‘unusual’ course?” asked Bill, in no very tolerant tone.  He wished it made quite plain that he cared nothing about the “selling up” process to which he knew he must be subjected.  Lablache noted the haughty manner and resented it, but still he gave no outward sign.  He had a definite object to attain and he would not allow his anger to interfere with his chances of success.

“Merely a pleasant little business arrangement which should meet all parties’ requirements,” he said easily.  “At present you are paying a ten per cent, interest on a principal of thirty-five thousand dollars to the Calford Loan Co.  A debt of twenty thousand to me includes an amount of interest which represents ten per cent, interest for ten years.  Very well, Your ranch should be yielding a greater profit than it is.  With your permission the Calford Trust Co. shall put in a competent manager, whose salary shall be paid out of the profits.  The balance of said profits shall be handed Over to your creditors, less an annual income to you of fifteen hundred dollars.  Thus the principal of your debts, at a careful computation, should be liquidated in seven years.  In consideration of thus shortening the period of the loans by three years the Calford Trust Co. shall allow you a rebate of five per cent, interest.  Failing the profits in seven years amounting to the sums of money required, the Calford Trust Co. and myself will forego the balance due to us.  Let me plainly assure you that this is no philanthropic scheme but the result of practical calculation.  The advantage to you is obvious.  An assured income during that period, and your ranch well and ably managed and improved.  Your property at the end of seven years will return to you a vastly more valuable possession than it is at present.  And we, on our part, will recover our money and interest without the unpleasant reflection that, in doing so, we have beggared you.”

Lablache, usurer, scoundrel, smiled benignly at his companion as he pronounced his concluding words.  The Hon. Bunning-Ford looked, thought, and looked again.  He began to think that Lablache was meditating a more rascally proceeding than he had given him credit for.  His words were so specious.  His pie was so delicately crusted with such a tempting exterior.  What was the object of this magnanimous offer?  He felt he must know more.

“It sounds awfully well, but surely that is not all.  What, in return, is demanded of me?”