THE visit to New York, and interview with Mr. Fenwick, fully assured Mr. Markland, and he entered into a formal agreement to invest the sum of forty thousand dollars in the proposed scheme: ten thousand dollars to be paid down at once, and the balance at short dates. He remained away two days, and then returned to make immediate arrangements for producing the money. The ten thousand dollars were raised by the sale of State six per cent. stocks, a transaction that at once reduced his annual income about six hundred dollars. The sum was transmitted to New York. "Have you reconsidered that matter?" inquired Markland, a few days after his return, on meeting with Mr. Brainard. "No, but I hope you have," was answered in a serious tone. "I have been to New York since I saw you." "Ah! and seen Mr. Fenwick again?" "Yes." "Did you mention the report of Lyon's return?" "I did." "How did it strike him?" "As preposterous, of course." "He did not credit the story?" "Not he." "Well, I hope, for your sake, that all will come out right." "Never fear." "By-the-way," said Mr. Brainard, "what do you really know about Fenwick? You appear to have the highest confidence in his judgment. Does this come from a personal knowledge of the man, or are you governed in your estimate by common report?" "He is a man of the first standing in New York. No name, in money circles, bears a higher reputation." Brainard slightly shrugged his shoulders. "The common estimate of a man, in any community, is apt to be very near the truth," said Mr. Markland. "Generally speaking, this is so," was replied. "But every now and then the public mind is startled by exceptions to the rule--and these exceptions have been rather frequent; of late years. As for Fenwick, he stands fair enough, in a general way. If he were to send me an order for five thousand dollars' worth of goods, I would sell him, were I a merchant, without hesitation. But to embark with him in a scheme of so much magnitude is another thing altogether, and I wonder at myself, now, that I was induced to consider the matter at all. Since my withdrawal, and cooler thought on the subject, I congratulate myself, daily, on the escape I have made." "Escape! From what!" Mr. Markland looked surprised. "From loss; it may be, ruin." "You would hardly call the loss of twenty thousand dollars, ruin." "Do you expect to get off with an investment of only twenty thousand dollars?" asked Mr. Brainard. "No; for I have agreed to put in forty thousand." Brainard shook his head ominously, and looked very grave. "I knew of no other man in the city with whom I cared to be associated; and so, after you declined, took the whole amount that wats to be raised here, myself." "A hasty and unwise act, believe me, Mr. Markland," said the other. "How soon do you expect returns from this investment?" "Not for a year, at least." "Say not for two years." "Well--admit it. What then?"