Hollis's face betrayed absolutely no emotion. Though Dunlavey's visit to the _Kicker_ office had surprised him he was not surprised at his offer for the ranch and the newspaper, for according to Judge Graney he had made some such offer to the elder Hollis. Coming now, with an addition of five thousand dollars, Dunlavey's offer seemed to advertise his reluctance to continue the war that he had waged. Hollis appreciated the situation. If Dunlavey were to buy him off now there would come an end to the warfare that had already been an expensive one for the interests represented by Dunlavey. Likewise, the acceptance of the offer would give Hollis an opportunity to withdraw gracefully. Dunlavey had placed the issue squarely before him. The young man held his future in his hands and he did not reply at once. He sat silent for a few moments, studying the coarse, brutal face of the man seated before him, noting that his under jaw had come forward slightly, and that the cold, hard glitter had come again in his eyes. However, Hollis's silence meant nothing beyond the fact that he was going slowly over the history of the fight between his father and the man who sat there representing the interests which had begun the war. He had no thought of surrendering--that would be dishonorable. He was merely revolving the situation in his mind, considering how best to word his refusal. He did not want to appear belligerent; he did not want to precipitate war. But he did want Dunlavey to know that he purposed to have his rights; he wanted Dunlavey to know that he could not be frightened into surrendering them. He clasped one hand over his knee and leaned back in his chair, his gaze meeting Dunlavey's steadily. "Dunlavey," he said quietly, "what is the actual value of the Circle Bar ranch?" Dunlavey smiled blandly. "You couldn't find any man around these parts to take it at any price," he returned. "Why?" questioned Hollis. Dunlavey grinned mysteriously. "I reckon you know why," he returned; "you're pretty much of a tenderfoot, but I reckon Judge Graney has put you wise to the situation. There ain't nobody wants to buy the Circle Bar except me." "Why?" persisted Hollis. "I reckon you know that too," laughed Dunlavey. "It ain't no secret. The Cattlemen's Association is running things in this here county and it ain't wanting anyone to buy the Circle Bar except me. And nobody is fool enough to antagonize the Association. That's the why, if you want to know real bad." "You are frank about it at any rate," conceded Hollis smiling slightly. "But that doesn't get us anywhere. What I am trying to get at is this: what would the Circle Bar bring in cash if the Cattlemen's Association ceased to be a factor in the county?" Dunlavey grinned broadly. "For a tenderfoot you're real amusing," he derided. "There ain't nobody out here crazy enough to think that the Cattlemen's Association will ever be put out of business!"