d but feebly expresses all we apprehend."

"It involves fearful meaning in the present case," said Markland, in
a hoarse voice.

"Fearful enough," said Fenwick, gloomily.

"I was just on the eve of starting for the ground of the Company's
operations, when your letter reached me this morning. An hour later,
and I would have been on my journey southward," said Mr. Markland.

"It is well that I wrote, promptly," remarked Fenwick. "You were, at
least, saved a long and fruitless journey."

"It will yet have to be taken, I fear," said Markland.

Fenwick shook his head ominously, and muttered, half to
himself--"Vain--vain!"

"Will you state clearly, yet in brief, the nature of the information
you have received from Mr. Lyon?" said Markland. "I comprehend
nothing yet."

"His last communication," was answered, "gives a hurried, rather
confused account of the sudden flooding of the main shaft, in
sinking which a large part of the capital invested has been
expended, and the hopeless abandonment of the work in that
direction."

"Do you believe this statement?" asked Mr. Markland.

"I have another letter from one of the party on the ground, bearing
the same date."

"What does he say?"

"But little of the flooded shaft. Such an occurrence had, however,
taken place, and the writer seemed to think it might require a
steam-engine and pump to keep it clear, involving a delay of several
months. The amount of water which came in was sufficient to cause a
suspension of work, which he thought might be only temporary; but he
could not speak with certainty in regard to that. But the most
serious part of his communication is this:"

Mr. Fenwick took a letter from his desk, and read:--

"The worst feature of the case is the lack of funds. The Government
officials have demanded the immediate payment of the second, third,
and fourth instalments due on the Company's grant of land, and have
announced their purpose to seize upon all the effects here, and
declare a forfeiture, unless these dues are forthcoming at the end
of the present month. Mr. Lyon is greatly troubled, but mysterious.
He has not, from the first day of his arrival out up to the present
moment, admitted any one fully into his counsels. I know he has been
seriously hampered for lack of funds, but was not aware, until now,
that the second and third instalments of purchase-money remained
unpaid; and my knowledge of this, and the impending danger from the
Government,