"We'll get rid of it pretty early. I've settled that with Mr. Pelham. To get his people back to Denver by breakfast-time to-morrow, the trains will have to leave here between eight and eight-thirty."

"That is good news—as far as it goes. Will you tell Mr. Pelham about the rotten tooth—to-night, I mean?"

"I certainly shall," was the positive rejoinder; and an hour later, when the evening luncheon in the big mess-tent had been served, and the crowd was gathered on the camp mesa to wait for the fireworks, Ballard got the president into the bungalow office, shut the door on possible interruptions, and laid bare the discouraging facts.

Singularly enough, as he thought, the facts seemed to make little impression upon the head of Arcadia Irrigation. Mr. Pelham sat back in Macpherson's home-made easy-chair, relighted his cigar, and refused to be disturbed or greatly interested. Assuming that he had not made the new involvement plain enough, Ballard went over the situation again.

"Another quarter of a million will be needed," he summed up, "and we shouldn't lose a single day in beginning. As I have said, there seems to be considerable seepage through the hill already, with less than half of the working head of water behind the dam. What it will be under a full head, no man can say."

"Oh, I don't know," said the president, easily. "A new boat always leaks a little. The cracks, if there are any, will probably silt up in a few days—or weeks."

"That is a possibility," granted the engineer; "but it is scarcely one upon which we have a right to depend. From what the secretary of the company said in his speech to-day, I gathered that the lands under the lower line of the ditch will be put upon the market immediately; that settlers may begin to locate and purchase at once. That must not be done, Mr. Pelham."

"Why not?"

"Because any man who would buy and build in the bottom lands before we have filled that hollow tooth would take his life in his hands."

The president's smile was blandly genial.