e establishment of Jack Lopez.

Lopez looked a good deal like a man who might deal in dazzling futures,
taking care that all the profit came to himself. He was swarthy and
good-natured, but with a crafty eye.

"The Fortunatus Syndicate?" he said, with an airy laugh. "Gentlemen, it
is gone--as you say--where the woodbine twineth. Yes, for two years
past. The concession was granted by Diaz for a great 'plant' dedicated
to the god of luck at Tia Juana, but--well, Diaz went out and some one
else came in. Down below the border, nothing remains as it was for long.
It took--what you call--too much money to grease the wheels. The
Syndicate dropped one hundred thousand dollars, and thought that was
plenty. No, no, you can not invest in Fortunatus, for there is no
Fortunatus."

"This is your card, isn't it?" inquired Clancy, offering for inspection
the card found wider the sweatband of the Stetson.

"Why, _si!_ I used that card at the time the Tia Juana matter looked
very bright and promising. Now, though, I use the card no more."

"Did you ever see a feller like this?" put in Hiram, handing over the
photograph of his father.

Lopez looked at the photograph, started, took it in his hands, and gave
it a more careful scrutiny.

"As I live," said he, "it is the picture of my good friend, Captain
Hogan, of the steam yacht _Sylvia._ Look!" and Lopez lifted and leveled
a forefinger.

They were standing in front of the curio store, and the stores all along
that street overlooked the bay. Lopez indicated a trim-looking craft,
painted white, and with the sun striking gleams from dazzling brasswork,
floating at anchor far from the shore line.

"That," continued Lopez, "is my good friend's boat. Her home port is San
Diego, and she can be chartered by any one with the price. Hogan is at
the island for a few days, looking for customers."

Disappointment struck heavily at Hiram Hill's heart and was reflected in
his face.

"You say his name is Hogan?" he asked.

"Yes."

"What's time whole of his handle?"

"Uriah Hogan. Strange you do not know, since you have his picture."

"There's a whole lot o' things I don't know," answered Hiram, "and am
just beginnin' to find out. Was Cap'n Hogan over to Los Angeles last
Saturday?"

"He was. He has told me about it. He returned to the island Sunday."

"Do you happen to know where I can find him?"

"Why, yes. In the quarter of the town called Buena Vista, there is a
bungalow called t