As he spoke, the president of The King's Basin Land and Irrigation Company tried in vain to see behind the mask-like face of the man in the revolving chair. His failure only excited his admiration and respect. Instinctively he recognized the genius before him, and his desire to add this strength to his forces increased.

"My report was satisfactory?" The words were absolutely colorless.

"Very. It was exactly what we wanted. With your opinion, confirming our engineer's statements, we felt safe to go ahead with the organization of the Company and have already set the wheels moving toward actual work. It is because you so unhesitatingly and so strongly commend the project as warranting our investment that we cannot understand your refusal to share the profits of our enterprise."

He paused for an answer, but was forced to continue. "Let me explain more fully than I could outline in my letter just what we propose doing. The King's Basin Land and Irrigation Company, Mr. Worth, will not confine its operations simply to furnishing water for the reclamation and development of these lands. That is no more than the beginning—the basis of our operations. With the settlement and improvement of the country will come many other openings for profitable investments—townsites, transportation lines, telephones, electric power, banking and all that, you understand. Our connections and resources make it possible for us to finance any industry or operation that promises attractive returns, while our position as the originators of the whole King's Basin movement and the owners of the irrigation system will give us tremendous advantage over any outside capital that may attempt to come in later, and will make competition practically impossible."

"I figured that was the way you would do it," was the unemotional reply.

More than ever James Greenfield wanted this man. He considered carefully a few minutes, with no help from Jefferson Worth, then tried again. "If you feel that our proposition to you is not liberal enough, Mr. Worth, I am prepared to double our offer."

If the financier from New York thought to startle this little western banker with a proposal that was more than princely he failed. His words seemed to have no effect. It was as though he talked to a marble figure of a man.

"I appreciate your proposition, but must decline it."

"May I ask your reason, sir?"

"I must decline to give any."