‘They’re regular first-class bred ’uns, that’s what they are,’ he asserted; ‘that’s the best of going in with a man like Levison. He’s always got the sugar, consequence he always gets the worth of his money, and doesn’t get put off with half-and-half goods. He knows a thing or two, does Levison. Anyhow he’s a stunning mate to go shares with.’ After a short time spent in making necessary arrangements for the new arrivals, Mr. Neuchamp commenced to review his position. Much seriousness of visage resulted from the financial examination. In the first place no cattle had been sold in his absence. Nor were there now any in sufficiently high condition to be turned into cash with the same facility as of old. A considerable hole had been made in the overdraft which Messrs. Oldstile and Crampton had grudgingly permitted him. He had signed bills at twelve months’ date for the late purchase of cattle; and accommodating as Mr. Levison might be, the acceptances would have to be met or provided for at maturity. Prospectively profitable as the transaction was, Mr. Neuchamp commenced to make acquaintances with the ominous suggestion, ‘Bankruptcy,’ and to wonder whether he should _really_, in spite of all his plans, prudence, and philanthropy, be compelled, even as others were whom he had contemptuously pitied in old times, to surrender unconditionally. Of this dread and final catastrophe Mr. Neuchamp had a lively horror which no sophistry could abate. He was not one to fall back upon the many excuses and palliations which the fluctuating markets, the uncertain season, afforded. No, no; the stoppage of payment meant Ruin and Disgrace. It would sound the knell of hope, would proclaim dishonour inevitable, irrevocable, as well as the total failure of all the plans and projects which his heart held dearest. His perusal of the newspapers, which had accumulated to a goodly pile in his absence, brought no hint of indulgence. The markets were low; the season had not yet improved so as to place the stock out of danger. If all debts incurred were to be met, there was little expectation of being able to liquidate them by the aid of the stock then depasturing upon Rainbar. More than this, he found among his correspondence an epistle from Messrs. Oldstile and Crampton, written in the very old-fashioned manner affected by that sound but non-progressive firm. It informed their very worthy and most esteemed constituent, Mr. E. Neuchamp, that the five hundred pounds last paid to his credit was exhausted, and that unless, of course, his account was supported by remittance, they could under _no circumstances_ continue to honour his orders.