report of Lyon's having
failed to pay the last three instalments on the Company's land, and
they denounced him bitterly. These conferences had the effect of
extinguishing all hope in the breast of Mr. Markland. Even if the
half of what he feared were true, he was hopelessly ruined.

At the hour of meeting, Markland assembled with the New York members
of the Company, and two from Boston, who had been summoned on the
day previous by telegraph. The last communications received by Mr.
Fenwick were again read, and the intelligence they brought discussed
with more of passion than judgment. Some proposed deferring all
action until further news came; while others were for sending out an
agent, with full powers, immediately. To this latter view the
majority inclined. "If it be true," suggested Markland, "that
the--Government has threatened to seize upon our property if the
three instalments were not paid on the first of the present month,
every thing may now be in its hands."

"Lyon would hardly let it come to that," said another, "He has in
his possession the means of preventing such a catastrophe, by paying
over one of the instalments, and thus gaining time."

"Time for what?" was asked. "If he mean to enrich himself at our
expense, he can do it best now. He is too shrewd not to understand
that; if a question of his integrity arises, his further power to
reach our funds is gone."

"But he does not know that we have information of the unpaid
instalments."

"And that information may come from one who has an interest in
ruining him," said another.

"You may think so, gentlemen," said Mr. Fenwick, coolly, "but I will
stake my life on the unwavering faith of my correspondent in all he
alleges. Moreover, he is not the man to make a communication of such
serious import lightly. He knows the facts, or he would not affirm
them. My advice is to send out an agent immediately."

"For what purpose?" was inquired.

"To ascertain the true position of affairs; and if our property have
really been seized by the--Government, to take steps for its
release."

"More funds will be required," said one of the Company.

"We cannot, of course, send out an agent empty-handed," was replied.

"Depletion must stop, so far as I am concerned," was the firm
response of one individual. "I will throw no more good money after
bad. If you send out an agent, gentlemen, don't call on me to bear a
part of the expense."

"You are not, surely, prepar