Brenchfield looked sidelong at Jim, then at Phil; and back again at Jim.

“Good Lord! You can have the best ranch in the country as security.”

“On second mortgage?”

“Sure! Why not? The first mortgage don’t amount to a hill of beans. You could buy it out any old time.”

“No, thanks! Not to-day! Man, but you’ve got your nerve! What do you think we are, anyway?––a charity institution?” growled Jim.

Brenchfield flushed, but he swallowed his anger.

“Would the bank loan you on second mortgage?” pursued Jim.

“No!––guess not!”

“Well,––neither will the Langford-Ralston Company.”

“I’ll give you ten percent.”