"If you want forty it's worth thirty," Gamble sagely concluded. "I'll split it with you. Give you thirty-five."

Gresham shook his head; but Gamble, watching him closely, saw that he was figuring.

"I can't let the property go for less than its value."

"I don't want you to. I offered you thirty-five."

"On what terms?" inquired Gresham cautiously.

"Thirty days cash. This twenty-five hundred is a first payment. I want a renewable option. If I don't cross over with the balance in thirty days, spend the money."

"What do you mean by a renewable option?" asked Gresham, hesitating.

"When this option runs out I get another at the same price—and twice more after that."

"Nonsense!" exclaimed Gresham, turning away. "Why, I'd be letting you tie up my property for four months."

"I'm offering you over eighty per cent, a year. You'd rather stay tied."