Hollis's lips curled a little, but his gaze was still steady. "That's evasion, Dunlavey," he said quietly. "You will remember that I asked you what the Circle Bar would bring 'if' the Association ceased to be a factor." Dunlavey favored Hollis with a perplexed grin. "I don't know what difference that makes," he returned. "We're dealing with what's before us now--we ain't considering what might be. But if you want to know my personal opinion it's that the Circle Bar might bring thirty thousand." "Thanks," said Hollis dryly; "that's getting somewhere. And now we'll be able to talk business. We've got thirty thousand to start with. I am told that when the Association began its war against my father he was rather prosperous. Usually he rounded up about two thousand head of cattle. But we'll call it a thousand. We'll say that they brought about thirty dollars a head, which would make an income of thirty thousand dollars a year, gross. We'll deduct fifty per cent for operating expenses, losses, and so on. That would leave about fifteen thousand. You've been fighting the Circle Bar for several years. We'll call it five. Five times fifteen thousand is seventy-five thousand. That represents the sum which my father would have made from the Circle Bar if you had not fought him. Add to that the thirty thousand which you admit would be a fair figure for the ranch if the Association were eliminated as a factor, and we have a total of one hundred and five thousand dollars." He smiled and leaned a little farther back in his chair, narrowing his eyes at Dunlavey. "Now we have reached a point where we can get somewhere. I'll take one hundred thousand dollars for the Circle Bar." The calm announcement had no effect upon Dunlavey except to cause him to grin derisively. "For a tenderfoot you're pretty slick," he allowed, his teeth showing. "You've figgered it out so that it sounds right reasonable. But you've forgot one thing. The Cattlemen's Association ain't eliminated. It says that the Circle Bar is worth fifteen thousand. You'll take that or----" He smiled grimly, holding back the threat. "I think I know what you mean," said Hollis quietly, without changing color. "You mean that the Cattlemen's Association will continue its fight and eventually ruin the Circle Bar. Perhaps it will--no man can tell what lies in the future. But I can tell you this: you can't retard progress." "No?" said Dunlavey with an irritating drawl.