All that he learned only convinced him the more that Captain Rumford's enforced sale of his deep water beds was not the calamity the shipper considered it. So he felt little distress when Captain Rumford was compelled to sacrifice still another of his deep water holdings. But he was frankly puzzled. He could not understand why this sale was necessary. Although he knew that the shipper was losing money steadily, he had a very fair idea as to the extent of these losses. To Alec it seemed as though the sale of the first bed should have enabled the captain to come through the season safely; for, though the bed had gone at a sacrifice, nevertheless, the sum actually received for it was large. That, with the money the captain did have, Alec thought, should have carried him through the season. Yet it was no time at all before the shipper was again in desperate straits. When the shipper parted with still another of his holdings, Alec was dumfounded.
He went to Elsa with the matter. "Do you know," he asked, "why your father found it necessary to sell his third oyster ground?"
Elsa looked at him searchingly. Alec misunderstood the look. "I am not trying to pry into your father's affairs, Elsa," he said, "but you know——"
"Of course you aren't, Alec," she replied. "Did you really think I believed you were? You ought to know me better by this time, Alec. I would never suspect you of doing anything dishonorable or discreditable. But your question startled me. I didn't even know that father had sold another oyster-bed. But I know he's deeply in trouble. Night after night I hear him talking to mother about things, though I don't know what they are saying, and mother looks so worried. And we have to be so careful about expenses, Alec. Father has always given me almost everything I asked for. Now he says he can't afford to spend a cent that he doesn't just have to. I don't know what it all means, but I know he's in trouble."
"Well, Elsa, you know I help keep his books, and I can't help knowing something about his business. He lost money last year and he's losing money this year. But the loss isn't so terrible that it should cause all this distress. At least I don't see how it can be. Yet your father is terribly worried. I can see it in a thousand ways. And he has sold three oyster grounds now, and yet seems as hard pressed for money as ever. You do know that I don't want to pry into his business, Elsa, but I'd like to know more about it in a perfectly honest, friendly way. Likely there isn't a thing in the world I can do to help him. But if there is, I want to do it. That's why I'm asking you the present question."
"Thank you, Alec," said Elsa. "That is very fine of you. I know you mean every word of it. And I know it would give you pleasure to help father. But I am as much puzzled as you are. And what you say worries me. Come to me to-morrow night, and, meantime, I will see if I can learn what is the matter."
A very sober-faced Elsa it was who greeted Alec on the next night. "Come," she said. "Let us take a walk. I have lots to tell you, but I cannot tell it here."
They left the house and walked in the moonlight along the cool country road. On his arm Alec could feel Elsa's hand tremble. "Oh, Alec!" she almost sobbed, when they had walked a little distance. "It's terrible, just terrible. Father thinks he's going to lose everything he has—his oyster grounds, his boats, all his stocks and bonds and money, and even our very home. He says he doesn't know what is to become of us. He's too old to make another fortune and we may have to go to the poorhouse." She broke down and stopped in a flood of tears.
"Elsa, Elsa—dear," said Alec, "don't cry. Surely it cannot be so bad as that. I cannot see how his indebtedness can be so great. He isn't losing so terribly much."