“Yes, you’ve won, Miguel.  Personally, it hurt me cruelly to do the things I did, but I was irrevocably tied up with the others.  I hoped—­I almost prayed—­that the unknown who was financing Bill Conway, in order to render your property valuable and of quick sale, to save your equity, might also give you a loan and enable you to eliminate me.  Then my companions in iniquity would be forced to abandon their waiting game and deal with you.  You are right, Miguel.  That waiting game might have been fatal to you.”

“It would have been fatal to me, sir.”

“Wouldn’t Conway’s friend come to your rescue?”

“I am not informed as to the financial resources of Bill Conway’s friend and, officially, I am not supposed to be aware of that person’s identity.  Conway refused to inform me.  I feel assured, however, that if it were at all possible for this person to save me, I would have been saved.  However, even to save my ranch, I could not afford to suggest or request such action.”

“Why?”

“Matter of pride.  It would have meant the violation of my code in such matters.”

“Ah, I apprehend.  A woman, eh?  That dashing Sepulvida girl?”

“Her mother would have saved me—­for old sake’s sake, but—­I would have been expected to secure her investment with collateral in the shape of a six-dollar wedding ring.”

“So the old lady wanted you for a son-in-law, eh?  Smart woman.  She has a long, sagacious nose.  So she proceeded, unknown to you, to finance old Conway, eh?”

“No, she did not.  Another lady did.”

“What a devil you are with the women!  Marvelous—­for one who doesn’t pay the slightest attention to any of them.  May I ask if you are going to—­ah—­marry the other lady?

“Well, it would never have occurred to me to propose to her before Panchito reached the wire first, but now that I am my own man again and able to match her, dollar for dollar, it may be that I shall consider an alliance, provided the lady is gracious enough to regard me with favor.”

“I wish you luck,” John Parker replied, coldly.  “Let us join the ladies.”

Three days later, in El Toro, Don Mike and his attorney met in conference with John Parker and his associates in the office of the latter’s attorney and completed the sale of the Agua Caliente property to a corporation formed by a merger of the Central California Power Company and the South Coast Power Corporation.  A release of mortgage was handed Miguel Farrel as part payment, the remainder being in bonds of the South Coast Power Corporation, to the extent of two million dollars.  In return, Farrel delivered a deed to the Agua Caliente property and right of way and a dismissal, by Bill Conway, of his suit for damages against John Parker, in return for which John Parker presented Farrel an agreement to reimburse Bill Conway of all moneys expended by him and permit him to complete the original contract for the dam.