“Well, the story goes that you wanted to buy an estate, and came down to have a look at this property here.”

“I'd not live on it if Martin were to make me a present of it to-morrow.”

“I don't think he will,” said Crow, gravely. “I am afraid he could n't, if he wished it.”

“What, do you mean on account of the entail?” asked Merl.

“Not exactly.” He paused, and after some silence said, “If the truth were told, there's a great deal of debt on this property,—more than any one suspects.”

“The Captain's encumbrances?” asked Merl, eagerly.

“His grandfather's and his great-grandfather's! As for the present man, they say that he's tied up some way not to sell, except for the sake of redeeming some of the mortgages. But who knows what is true and what is false about all this?”

Merl was silent; grave fears were crossing his mind how far his claims were valid; and terrible misgivings shot across him lest the Captain might have been paying him with valueless securities.

“I gather from what you say,” said he, at last, “that it would be rather difficult to make out a title for any purchaser of this estate.”

“Don't be afraid of that, sir. They'll make you out a fair title.”