But the railway, it seemed, was a failure, because the rival town had certain foreshore rights, and had employed those to lay a tramway from their hustling centre; and as the rival town was on the main line, the majority of visitors preferred going by the foreshore route in preference to the roundabout branch line route, which was somewhat handicapped by the fact that this, too, connected with the branch line at Tolness, a little town which had done great work in the War, but which did not attract the tourist in days of peace.

These were the facts about the Lynhaven line, not as they were set forth by Mr. Pyeburt—who took a much more optimistic view of the possibilities of the railway than did its detractors—but as they really were.

"It's a fine line, beautifully laid and ballasted," said Mr. Pyeburt, shaking his head with melancholy admiration. "All that it wants behind it is a mind. At present it's neglected; the freights and passenger fares are too high, the rolling-stock wants replacing, but the locomotive stock is in most excellent condition."

"Does he want to sell it?" asked the interested Bones, and Mr. Pyeburt pursed his lips.

"It is extremely doubtful," he said carefully, "but I think he might be approached. If he does want to sell it, and you can take it off his hands——"

He raised his own eyebrows with a significant gesture, which expressed in some subtle way that Bones's future was assured.

Bones said he would think the matter over, and he did—aloud, in the presence of Hamilton.

"It's a queer proposition," said Hamilton. "Of course, derelict railways can be made to pay."

"I should be general manager," said Bones more thoughtfully still. "My name would be printed on all the posters, of course. And isn't there a free pass over all the railways for railway managers?"

"I believe there is something of the sort," said Hamilton, "but, on the whole, I think it would be cheaper to pay your fare than to buy a railway to get that privilege."