The two young men exchanged seats, and Challis at the wheel, with more caution than ever Stranleigh used, sent the car spinning down the slightly descending road by the margin of the lake, until they came to the water level. No word was spoken between them, but his lordship studied with keen scrutiny from the corner of his eye, the profile of the intent driver. He was immensely taken with the young man, and meditated on the story to which he had listened. The effect left on his mind by that recital surprised him. It was a feeling of sympathy with the old man who had acted so obstreperously, and gradually he placed this feeling to the credit of Challis, who had shown no rancour against his father-in-law, either in word or tone. Yes; he liked Challis, and was sorry for the elderly Anson, one evidently advanced in years, battling against forces that were too much for him, stubbornly using antiquated methods in a world that had out-grown them; the muzzle-loader against the repeating rifle. These two men should be pulling together. "There's the factory," said Challis, at last, and Stranleigh, looking up, beheld further down the valley a three-storied structure, unexpectedly huge, built apparently for all the ages. There was no sign of activity about it; but the roar of waters came to their ears; idle waters, nevertheless, that were turning no wheels, the muffled sound of an unimpeded minor cataract. "By Jove!" cried Stranleigh, jumping out as the car stopped. Challis said nothing, but an expression of deep anxiety darkened his countenance. There were plastered here and there on the stone walls great white posters, bearing printing like the headings of a sensational newspaper, magnified several hundred times. AUCTION SALE. BY ORDER OF THE BANKRUPTCY COURT, that desirable property known as Anson's Mill, fully equipped with machinery, in condition for immediate use, with never-failing water power, which at slight expense may be enormously increased; together with ten acres of freehold land; without reserve to the highest bidder; on the Seventeenth of November! "A desirable property," said Challis, sadly, "which nobody desires except the Trust, and probably _it_ cares nothing about it now." "You forget that it is desired by Stanmore Anson." "I am afraid that even he is tired of it by this time. I am sorry, but I feared it was inevitable." Stranleigh looked up at him. "Could you make this factory pay, if it were given into your charge?" "Not in its present condition." "I mean, of course, with your recommendations carried out. If the mill, free from all encumbrances, filled with modern machinery, rightly placed, were put under your management, could you make it pay?" Challis did not answer for some moments. His brow was wrinkled in thought, and he seemed making some mental calculations. "There would need to be a suitable amount of working capital----"