Annixter tore it open. The envelope contained other sealed envelopes, some eight or ten of them, addressed to Magnus Derrick, Osterman, Broderson, Garnett, Keast, Gethings, Chattern, Dabney, and to Annixter himself.

Still puzzled, Annixter distributed the envelopes, muttering to himself:

“What's up now?”

The incident had attracted attention. A comparative quiet followed, the guests following the letters with their eyes as they were passed around the table. They fancied that Annixter had arranged a surprise.

Magnus Derrick, who sat next to Annixter, was the first to receive his letter. With a word of excuse he opened it.

“Read it, read it, Governor,” shouted a half-dozen voices. “No secrets, you know. Everything above board here to-night.”

Magnus cast a glance at the contents of the letter, then rose to his feet and read:

Magnus Derrick,
Bonneville, Tulare Co., Cal.

Dear Sir:
By regrade of October 1st, the value of the railroad land you
occupy, included in your ranch of Los Muertos, has been fixed at
$27.00 per acre. The land is now for sale at that price to any
one.
Yours, etc.,
CYRUS BLAKELEE RUGGLES,
Land Agent, P. and S. W. R. R.
S. BEHRMAN,
Local Agent, P. and S. W. R. R.

In the midst of the profound silence that followed, Osterman was heard to exclaim grimly: