The man’s name was Claxton. He had come to D——, about a year previously, with some six thousand dollars in cash, and as full of enterprize and money-loving ambition as a man could well be. The town was growing fast, and the supply of lumber, which a saw-mill of very limited capacity was turning out, so poorly met the demand, that prices ranged exceedingly high. A large landholder, whose interests were seriously affected by this high rate of lumber, made Claxton believe that he had only to erect a steam saw-mill, capable of turning out, per day, a certain number of feet of boards and scantling, and his fortune was made. Without stopping to investigate the matter beyond a certain point, and taking nearly all the statements made by the individual we have named for granted, Claxton ordered a steam-engine from Pittsburg, rented a lot of ground on the bank of the river, and forthwith commenced the erection of his mill. As soon as the citizens of D—— understood what he was about, there were enough of them to pronounce his scheme a foolish one, in which he would inevitably lose his money. But he had made all the calculations—had anticipated, like a wise man, all the difficulties; and knew, or thought he knew, exactly what he was about. It was nearly a year before he had his mill ready. By this time he was not only out of funds, but out of confidence in his scheme for making a fortune. In attempting to put his mill in operation, some of the machinery gave way, and the same result happened at the next trial. Thus expense was added to expense, and delay to delay. In the mean time, the owner of the other mill had been spurred on by the approaching competition, to increase its capacity, and was turning out lumber so fast as to cause a reduction in the price. So soon as Claxton became aware of the fact that Ellison’s suit had come to a favorable termination, he conceived the idea of getting off upon the young artist his bad bargain with as little loss to himself as possible, and he had this purpose in his mind when he congratulated him so warmly on his release from the perplexity and uncertainty of the law. “Trees standing in the forest, and lumber piled up ready for use in building,” said Ellison, in reply to Claxton’s suggestion, “are very different things.” “Any man knows that. But, in the conversion of the trees into lumber, lies the means of wealth. There is not an acre of your land that will not yield sufficient lumber to bring three hundred dollars in the market.” “Are you certain of that?” inquired Ellison. “I know it. The tract is very heavily timbered.” “Three hundred dollars to the acre,” said Ellison, musing; “four hundred acres—three times four are twelve. That would make the lumber on the whole four hundred acres worth over a hundred thousand dollars!” “I know it would. And you may rest assured that the estimate is not high. I only wish I had your chances for a splendid fortune.”