Berent. Then may I make my comments on your own figures, and ask you a few questions about them?

Tjaelde. By all means.

Berent. Well, to begin with, let us take your properties immediately round here; they will give us the best idea of local values. For instance, take the Mjölstad forest; you have put that down, I see, at £16,500.

Tjaelde (indifferently). Have I?

Berent. You bought it for £10,000.

Tjaelde. Yes, four years ago. Timber prices ruled low then.

Berent. And since then you have cut down more than £20,000 worth of timber there.

Tjaelde. Who told you so?

Berent. Mr. Holst.

Tjaelde. Holst knows nothing about it.