“Dear old idiot,” she thought.  “If he ever falls in love he’ll pay his court like a schoolboy.”

“By the way, sir,” Farrel spoke suddenly, turning to John Parker, “I would like very much to have your advice in the matter of an investment.  I will have about ninety thousand dollars on hand as soon as I sell these cattle I’ve rounded up, and until I can add to this sum sufficient to lift the mortgage you hold, it scarcely seems prudent to permit my funds to repose in the First National Bank of El Toro without drawing interest.”

“We’ll give you two and one-half per cent. on the account, Farrel.”

“Not enough.  I want it to earn six or seven per cent. and it occurred to me that I might invest it in some good securities which I could dispose of at a moment’s notice, whenever I needed the money.  The possibility of a profit on the deal has even occurred to me.”

Parker smiled humorously.  “And you come to me for advice?  Why, boy, I’m your financial enemy.”

“My dear Mr. Parker, I am unalterably opposed to you on the Japanese colonization scheme and I shall do my best to rob you of the profit you plan to make at my expense, but personally I find you a singularly agreeable man.  I know you will never resign a business advantage, but, on the other hand, I think that if I ask you for advice as to a profitable investment for my pitiful little fortune, you will not be base enough to advise me to my financial detriment.  I trust you.  Am I not banking with your bank?”

“Thank you, Farrel, for that vote of confidence.  You possess a truly sporting attitude in business affairs and I like you for it; I like any man who can take his beating and smile.  Yes, I am willing to advise an investment.  I know of a dozen splendid securities that I can conscientiously recommend as a safe investment, although, in the event of the inevitable settlement that must follow the war and our national orgy of extravagance and high prices, I advise you frankly to wait awhile before taking on any securities.  You cannot afford to absorb the inevitable shrinkage in the values of all commodities when the show-down comes.  However, there is a new issue of South Coast Power Company first mortgage bonds that can be bought now to yield eight per cent. and I should be very much inclined to take a chance on them, Farrel.  The debentures of the power corporations in this state are about the best I know of.”

“I think you are quite right, sir,” Farrel agreed.  “Eventually the South Coast Company is bound to divide with the Pacific Company control of the power business of the state.  I dare say that in the fullness of time the South Coast people will arrange a merger with the Central California Power Company.”

“Perhaps.  The Central California Company is under-financed and not particularly well managed, Farrel.  I think it is, potentially, an excellent property, but its bonds have been rather depressed for a long time.”