n deserves another, hey?"

"I know the place," Angus said, "but I never thought of putting a value
on it. How about water?"

"Tetreau had a record of eight hundred inches on Canon Creek. That goes
with the place. And there's a good spring creek."

"That little spring wouldn't irrigate more than a few acres," Angus
objected. "Seems to me I heard the old man quit because he couldn't
bring water from the main creek."

Mr. Braden frowned. "Nonsense! Plenty of water. Tetreau was too lazy to
run a ditch, that's all. Lots of water. Never mind that. The main thing
is the land, which is good. I'll depend on you for a good report, and
I'll tell Chetwood to run out and see you."

Angus rode home, none too well pleased with the prospect. He could just
remember Felix Tetreau, a stooped old Frenchman, and he had a vague
recollection that the latter had given up the place after a vain attempt
to make water run up hill. But it was possible that he had been wrong in
his levels, or, as Mr. Braden had suggested, too lazy to put in a ditch.
Anyway, he had gone years before, and it appeared that Mr. Braden who
owned a big block of land in that vicinity, had acquired his holding.
The clearing had grown back to wild, which as there had not been much of
it, mattered the less. But the question of water mattered a great deal.

For in that district water was a _sine qua non_. Angus was no victim of
the dry-farming delusion. Water and plenty of it, was essential in most
years to grow paying crops. Therefore the value of the land, no matter
what the quality of the soil, was conditional upon whether water could
be brought upon it. It was that question which, in spite of Mr. Braden's
airy dismissal, must be investigated in justice to Chetwood. Therefore
when the latter came to the ranch, Angus took with them a hand level.

The land in question lay close to the foothills, and back of it a small,
round mountain rose, but this was evidently not part of the parcel. The
soil was a dark, sandy loam, which would give good result if properly
fed, watered and cultivated. Angus pointed out these facts to the
prospective buyer.

"Then you think it a good investment?" Chetwood queried.

"I did not say just that," Angus replied. "You have to add the cost of
clearing to your purchase price. Then there will be your buildings and
fencing and ditches. You have to figure on raising enough to pay
interest on your total investment, and wages as well."

"I mea