own, and we were to make so much a year by selling it. "How about
the carriage?" inquired F--- cautiously, having visions of costly
bullock-drays, and teams and drivers at fabulous wages. "Oh, the
lake is your highway," replied the would-be seller, airily; "you
have nothing to do but lash your felled trees together, as they do
in the mahogany-growing countries, and set them afloat on the lake,
they will thus form a natural raft, and cost you little or nothing
to get down to a good market. You know the Dunstan diggings are
just at the foot of the lake, and they haven't a stick there; timber
is very badly wanted in those parts, not only for fuel and building,
but also for slabbing the shafts which the miners sink."

By the time the coffee was served F--- had made up his mind to buy
the Lake Wanaka run; his business agent urging him strongly not to
hesitate for a moment in securing such a chance. The negotiations
reached thus far without the least hitch, but at this point F---
said, "Well, I'll tell you what I'll do: we will start in a day or
two and go straight up to this run and look round it, and if I find
it anything like so good as you both make it out, I'll buy it on the
spot."

Never did that sociable little word "we" sound so delightful to my
ears! "Then I am to come too," I thought to myself, but I prudently
concealed from the company that I had ever had any misgivings on
that point. However, the company did not concern themselves with my
doubts and fears, for our two guests seemed much taken aback at this
very matter-of-fact proposal of F---'s. "That won't do at all, my
dear fellow," said the owner of the run; "I am going to England by
the next mail steamer, which you know sails next week, and the
reason I am literally giving away my property is that I don't want