"That's the idea, sir," said Vandover, very attentive, drawing up his
chair.

Mr. Field took a great package of oblong papers from the small table
that stood at the head of his bed, and looked them over, adjusting his
eyeglasses. "Well, now, suppose we take up the real property first," he
continued, drawing out three or four of these papers and unfolding them.
"All of your father's money was invested in what we call 'improved
realty.'"

He talked for something over an hour, occasionally stopping to answer a
question of Vandover's, or interrupting himself to ask him if he
understood. At the end it amounted to this:

The bulk of the estate was residence property in distant quarters of the
city. Some twenty-six houses, very cheaply built, each, on an average,
renting for twenty-eight dollars. When all of these were rented, the
gross monthly income was seven hundred and twenty-eight dollars. At this
time, however, six were vacant, bringing down the gross receipts per
month to five hundred and sixty dollars. The expenses, which included
water, commissions for collecting, repairs, taxes, interest on
insurance, etc., when expressed in the terms of a monthly average,
amounted to one hundred and eighty-six dollars.

"Well, now, let's see," said Vandover, figuring on his cuff, "one
hundred and eighty-six from five hundred and sixty leaves me a net
monthly income of three hundred and eighty-four--no, seventy-four. Three
hundred and seventy-four dollars."

The lawyer shook his head while he drank another glass of hot water:

"You see," he said, wiping his moustache in the hollow of his palm, "you
see, we haven't figured on the mortgages yet."

"Mortgages?" echoed Vandover.

"Yes," answered Mr. Field, "when I spoke of expenses I was basing them
upon the monthly statements of Adams & Brunt, your father's agents. But
they never looked after the mortgages. Your father acted directly with
the banks in that matter. I find that there are mortgages that cover the
entire property, even the homestead. They are for 6-1/2 and 7 per cent.
In some cases there are two mortgages on the same piece of property."

"Well," said Vandover.

"Well," answered the lawyer, "the interest on these foots up to about
two hundred and ninety dollars a month."

Vandover made another hasty calculation on his cuff, and leaned back in
his chair staring at the lawyer, saying:

"Why, that leaves eighty-four dollars a month, net."

"Yes," assented Fie