“Perhaps you will explain,” said he.

“The situation is so plain,” proclaimed Gilbert Scarlett, “that I can scarcely see the need of an explanation. But, since you ask for one, here it is. My horse can go no farther. Yours can. So, as I have urgent affairs to transact, I propose that we make an exchange.”

“It would seem that your military schooling has taught you to expect the better of a bargain, if nothing else,” said Ezra quietly.

The other laughed.

“It would have been of very little value if it hadn’t,” said he. He once more hitched at his sword belt, and this time the movement held the elements of a threat. “But,” he went on, “that is neither here nor there. We will come to the exchange at once, if you please.”

“I am glad that you mentioned that last,” smiled Ezra. “Suppose I don’t please?”

The points of the spiky moustache went up and the heavy black brows came down.

“In that event,” said Gilbert Scarlett, “I shall be forced to alter your mind.”

A little earlier, Ezra had had before him a youthful, careless face, had listened to boastful, empty speech and had smiled. But in an instant all was altered. The face was now hard and lined; the careless mouth was tight shut and cruel looking, the voice was sharp and peremptory.

“Once more—and for the last time, mark you—I invite you to get down.”