“It is well that I wrote, promptly,” remarked Fenwick.  “You were, at least, saved a long and fruitless journey.”

“It will yet have to be taken, I fear,” said Markland.

Fenwick shook his head ominously, and muttered, half to himself—­“Vain—­vain!”

“Will you state clearly, yet in brief, the nature of the information you have received from Mr. Lyon?” said Markland.  “I comprehend nothing yet.”

“His last communication,” was answered, “gives a hurried, rather confused account of the sudden flooding of the main shaft, in sinking which a large part of the capital invested has been expended, and the hopeless abandonment of the work in that direction.”

“Do you believe this statement?” asked Mr. Markland.

“I have another letter from one of the party on the ground, bearing the same date.”

“What does he say?”

“But little of the flooded shaft.  Such an occurrence had, however, taken place, and the writer seemed to think it might require a steam-engine and pump to keep it clear, involving a delay of several months.  The amount of water which came in was sufficient to cause a suspension of work, which he thought might be only temporary; but he could not speak with certainty in regard to that.  But the most serious part of his communication is this:” 

Mr. Fenwick took a letter from his desk, and read:—­

“The worst feature of the case is the lack of funds.  The Government officials have demanded the immediate payment of the second, third, and fourth instalments due on the Company’s grant of land, and have announced their purpose to seize upon all the effects here, and declare a forfeiture, unless these dues are forthcoming at the end of the present month.  Mr. Lyon is greatly troubled, but mysterious.  He has not, from the first day of his arrival out up to the present moment, admitted any one fully into his counsels.  I know he has been seriously hampered for lack of funds, but was not aware, until now, that the second and third instalments of purchase-money remained unpaid; and my knowledge of this, and the impending danger from the Government, was only acquired through accident.  No doubt Mr. Lyon has fully advised you of all the facts in the case; still, I feel it to be my duty also to refer to the subject.”

“Good heavens!” exclaimed Mr. Markland, as Fenwick paused, and lifted his eyes from the letter.  “The second, third, and fourth instalments not paid!  What can it mean?  Was not the money forwarded to Mr. Lyon?”

“He took out funds to meet the second and third regular payments; and the money for the fourth went forward in good time.  There is something wrong.”

“Wrong!” Mr. Markland was on his feet, and pacing the floor in an agitated manner.  “Something wrong!  There exists, I fear, somewhere in this business a conspiracy to swindle.”

And as he said this, he fixed his eyes intently on the countenance of Mr. Fenwick.