“In that case,” cried Stranleigh impulsively, “the defect is easily remedied. I have saved a bit from the ample salary Mr. Ponderby allows me, and if I may offer you——”

“I could not accept anything,” interrupted Challis.

“Merely a temporary loan, until the grist mill begins operations.”

Challis shook his head.

“That mill will never grind again with the water that is past, nor the water that is to come. Fulmer has gone smash, and I could not accept a loan that I do not see my way to repay. Nevertheless, I appreciate fully the kindness of your offer, and if you don’t mind, I will tell you how I got myself entangled, for there is no use in concealing from you what you must already have seen—that I am desperately poor, so much so that I sometimes lose courage, and consider myself a failure, which is not a pleasant state of mind to get into.”

“Oh, I’ve often felt that way myself,” said Stranleigh, “but nobody’s a failure unless he thinks he is. You strike me as a capable man. You have youth and energy, and added to that, great good luck. I’m a believer in luck myself.”

This commendation did not chase the gloom from the face of Challis.

“You have knocked from under me,” he said, “the one frail prop on which I leaned. I have been excusing myself by blaming the run of horrid bad luck I have encountered.”

Stranleigh shook his head.