“As you doubtless know,” he went on, “your estate includes a large area of mountain and _mesa_ land—a little more than nine thousand acres I believe—north and west of the San Antonio River in Arriba County. I own nearly as much land on the east side of the river. The valley itself is owned by a number of natives in small farming tracts. “I believe your estate also includes a few small parcels of land in the valley, but not enough, you understand, to be of much value by itself. Your uncle also owned a few tracts in the valley east of the river which he transferred to me, for a consideration, because they abutted upon my holdings. “Now the valley, as I scarcely need tell you, is the key to the situation. In the first place, if the country is to be properly developed as sheep and cattle range, the valley will furnish the farming land upon which hay for winter use can be raised, and it also furnishes some good winter range. Moreover, it is now an open secret that the Denver and Rio Grande Railroad proposes building a branch line through that country and into the San Juan Valley. No surveys have been made, but it is certain that the road must follow the San Antonio to the top of the divide. There is no other way through. I became aware of this project some time ago through my eastern connections, and told your uncle about it. He and I joined forces for the purpose of gaining control of the San Antonio Valley, and of the railroad right-of-way. “The proposition is a singularly attractive one. Not only could the right-of-way be sold for a very large sum, but we would afterward own a splendid bit of cattle range, with farming land in the valley, and with a railroad running through the centre of it. There is nothing less than a fortune to be made in the San Antonio Valley, Mr. Delcasar. “And the lands in the valley can be acquired. Some of the small owners will sell outright. Furthermore, they are all frequently in need of money, especially during dry years when the crops are not good. By advancing loans judiciously, and taking land as security, title can often be acquired.… I daresay you are not wholly unfamiliar with the method. “This work, Mr. Delcasar, requires large capital, which I can command. It also requires certain things which you have in an unusual degree. You are of Spanish descent, you speak the language fluently. You have political and family prestige among the natives. All of this will be of great service in persuading the natives to sell, and in getting the necessary information about land titles, which, as you know, requires much research in old Spanish Church records and much interviewing of the natives themselves.