"Under present conditions, I think it is," she said. "I shouldn't buy it now."

"What would you do, O wise virgin of the market-place?"

"I'd wait patiently while the rocket is going up; I might even clap my hands and say 'Ah-h-h!' with the admiring multitude. But afterward, when the stick comes down, I'd buy every bit of Arcadia Irrigation I could find."

Again he was regarding her through half-closed eyelids.

"As I said before, you know too much about such things—altogether too much." He said it half in raillery, but his deduction was made seriously enough. "You think your father will win his law-suit and so break the market?"

"No; on the contrary, I'm quite sure he will be beaten. I am going, now. Don't ask me any more questions: I've said too much to the company's engineer, as it is."

"You have said nothing to the company's engineer," he denied. "You have been talking to Breckenridge Ballard, your future——"

She set the car in motion before he could complete the sentence, and he stood looking after it as it shot away up the hills. It was quite out of sight, and the sound of its drumming motor was lost in the hoarse grumbling of the river, before he began to realise that Elsa's visit had not been for the purpose of asking him to send for Gardiner, nor yet to beg him not to be vindictive. Her real object had been to warn him not to buy Arcadia Irrigation. "Why?" came the unfailing question, shot-like; and, like all the others of its tribe, it had to go unanswered.

It was two days later when Gardiner, the assistant professor of geology, kept his appointment, was duly met at Alta Vista by Ballard's special engine and a "dinkey" way-car, and was transported in state to the Arcadian fastnesses. Ballard had it in mind to run down the line on the other engine to meet the Bostonian; but Elsa forestalled him by intercepting the "special" at Ackerman's with the motor-car and whisking the guest over the roundabout road to Castle 'Cadia.

Gardiner walked down to the construction camp at Elbow Canyon bright and early the following morning to make his peace with Ballard.