man first comes to Olancho he puts a little rum into his water,
and that when he is here some time he puts a little water in his
rum.''

``Yes,'' laughed Clay. ``I'm afraid that's true.''

There was a pause while the men sipped at their glasses, and
looked at the horses and the orderly. The clanging of the guitar
began again from the kitchen. ``You have a very beautiful view
here of the harbor, yes,'' said Mendoza. He seemed to enjoy the
pause after his ride, and to be in no haste to begin on the
object of his errand. MacWilliams and Langham eyed each other
covertly, and Clay examined the end of his cigar, and they all
waited.

``And how are the mines progressing, eh?'' asked the officer,
genially. ``You find much good iron in them, they tell me.''

``Yes, we are doing very well,'' Clay assented; ``it was
difficult at first, but now that things are in working order, we
are getting out about ten thousand tons a month. We hope to
increase that soon to twenty thousand when the new openings are
developed and our shipping facilities are in better shape.''

``So much!'' exclaimed the General, pleasantly.

``Of which the Government of my country is to get its share of
ten per cent--one thousand tons! It is munificent!'' He laughed
and shook his head slyly at Clay, who smiled in dissent.