“Death loves a shining mark, Michael, my boy.  Hand over that four dollars.”

Farrel produced a five dollar bill.  “I’m betting five dollars,” he challenged again.

“Not with me, son.  You’re too good.  I suppose your next bet will be that the plans were drawn by the engineer of the Central California Power Company.”

“Were they?”

“Yes.”

“Got a set of the plans with his name on them?”

“You bet.”

“I want them.”

“They’re yours, provided you tell your Uncle Bill the Big Idea.”

Don Mike flipped some pepper and salt on his eggs and while doing so proceeded to elucidate.

“If I had two projects in mind—­one for irrigation and one for power, I would not, of course, unless I happened to be a public service corporation engaged in producing and selling electric power, consider for a moment wasting my time monkeying with the hydro-electric buzz-saw.  Indeed, I would have to sell it, for with the juice developed here I could not hope to compete in a limited field with the established power companies.  I would proceed to negotiate the sale of this by-product to the highest bidder.  Bill, do you know that I’ve seen enough flood water running down the San Gregorio every winter to have furnished, if it could have been stored in Agua Caliente Basin, sufficient water to irrigate the San Gregorio Valley for five years?”

“I know it, Miguel.”

“All a power company requires is the assurance that the dam you are building will impound in the Agua Caliente Basin during an ordinarily wet winter, sufficient run-off water to insure them against a shortage during the summer.  After the water has passed over their wheels they’re through with it and it can be used for irrigation, can it not?”

“Yes, of course, although you’d have to have a greater volume of water than the amount coming through the power company’s pen-stocks.  But that’s easily arranged.  Two ditches, Miguel!”

“If the engineer of the Central California Power Company had not examined the possibilities here and approved of them, it is reasonable to suppose that he would not have drawn the plans and Parker would not have engaged you to build the dam.”

“You’re on the target, son.  Go on.”

“Then Parker must have entered into an agreement to sell, and the Central California Power Company must have agreed to buy, if and when Parker could secure legal title to the Rancho Palomar, a certain number of miner’s inches of water daily, in perpetuity, together with certain lands for a power station and a perpetual right of way for their power lines over the lands of this ranch.”

“Well, son, that’s what I would have done in a similar situation.  Nothing to be made by letting that hydro-electric opportunity lie fallow.  No profit in wasting kilowatts, Miguel.  We haven’t got a third of the power necessary for the proper development/of this state.”