"It's worth possibly three dollars an acre as it stands, or a total of fifteen thousand dollars," Lee continued. "But it has an unused water right of one hundred and twenty-five second feet from the Pinas River, sufficient to water the whole tract. How much will the ranch be worth when water is actually delivered?"
"A good deal more than fifteen thousand dollars."
"Rather," said the engineer, smiling. "The appropriation was secured from the state by Mr. Menocal thirty years ago; it's never been cancelled, and is good to-day. He, however, has been using the water on ranches he owns down the river. A canal from the Pinas along the mountain sides to Perro Creek would be expensive to construct, possibly prohibitive; it appears the natural line; and I suppose this deterred him. I've located a new and practical course for a ditch on the mesa, have surveyed and mapped it in detail, calculated the cost, and compiled a statement of estimates, and can build the project for sixty thousand dollars. The tract of five thousand acres can then be sold for fifty dollars an acre, or two hundred and fifty thousand dollars. Shall I stop, or do you wish to hear more?"
Now it was the banker's turn to smile. This visitor knew how to make a point.
"Go ahead," he said.
"All right. A Mexican dam across the Pinas, a mile and a half of hillside canal, some concrete drops, twelve miles of curving mesa ditch, and the ranch is reached. In addition, the flood water of Perro Creek can be utilized; I've worked this out, as well as the entire system of laterals for the land. As stated, the cost of the whole project will be about sixty thousand dollars, present price of material and labour. I'm on my way now to the capital to file application for a change in the present canal line, which, since it involves only government land, will naturally be allowed. Of course Mr. Menocal isn't taking kindly to my proposed use of this water." And Lee paused.
"What has he done? Anything yet?"
"Not much so far, except a little futile skirmishing," the engineer remarked, with twinkling eyes. "When I paid off his mortgage on the land, I advised him that I should use the water: and he threatened to have the water right cancelled. But he backed up on that line when I promised to lodge him in jail for making false affidavits if he tried those tactics. Thought I'd head him off in that direction at the start. I got the jump on him there. Well, now, he's using indirect means to keep control of the water, sending half a dozen Mexicans to file claims at the base of the mountains where he imagines the canal will have to go. He thinks these have blocked me; and I didn't undeceive him. He knows nothing about my actual line of survey on the mesa. Of course, the loss of this water that he fancied he had hits him where it hurts, but from what I can gather Mr. Menocal isn't a man to resort to illegal methods. He's wily, that's about all. So that's the situation."
The banker regarded Bryant for a time with a noncommittal face.
"State your proposition now," said he.