e turned down if he should try to secure his rights. But he
actually owns the very land possessed by Merriwell--the land on which
Merriwell's mine is located. And that mine is said to be fabulously
rich. He will accept a fair sum as his share of the spoils; the rest we
can divide between us."

"There's something in it," nodded Jerome.

"Here is the document," said Hagan, displaying Felipe's paper. "Can you
read Spanish?"

"No."

"Well, even Merriwell, who can read Spanish, confessed that it seemed
genuine. You see the opportunity, man; come in with us and make a good
thing for yourself."

Jerome considered.

"There is no reason why we should attempt to build that road, Hagan," he
said. "If you want me as your partner, I believe we can make a big thing
out of it without ever constructing a rod of railroad."

"How?"

"Dead easy. We'll form a company, with the avowed purpose of putting the
road through. We'll buck the Merriwell crowd just as if we meant
business. If we do it in the proper manner, we can jar them some. But
it's best to wait a bit until they get started, for it wouldn't do to
frighten Scott and the others out before they were fairly under way. We
will come down on them like a ton of bricks at the right time. If we
scare them so they are on the verge of abandoning the whole deal, it's
likely Merriwell will cough up a fancy sum just to have us drop our game
and let them go on. There you are. It's money made on pure bluff."

"Fine enough!" chuckled Hagan, in satisfaction. "I knew I was coming to
the right man when I came to you, me boy!"

"What am I to receive?" asked the Mexican lad, who had been listening
with deep interest.

"Your share," answered Hagan.

The boy sprang up.

"I have another way!" he exclaimed. "I have the way of my own. Senor
Merriwell shall find death creeping at his heels day and night. He shall
know it is I, Felipe Jalisco, who threatens him with destruction; but I
will take care to keep beyond his reach. He shall know that the only way
to escape the peril that follows him is to pay me all I ask."

"We'll have to hold him down, Hagan," whispered Jerome. "The little fool
is liable to murder Merriwell and ruin everything."

CHAPTER XVI.

ARTHUR HATCH.

That afternoon Frank Merriwell accompanied Warren Hatch when the latter
left the city to return to his home on the Hudson. They took a train at
the Grand Central Station.

When they were comfortably seated on