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A SPECULATIVE INVESTMENT.

It leaked out after a while that Tom and Ferguson were intending to leave River Bend, and considerable regret was expressed by the other members of the party. Tom was a general favorite. His youth and his obliging disposition made him liked by all except Missouri Jack and his set. It cannot be said that his Scotch friend was popular, but he was, at all events, highly respected as a man of high principle and rigid honesty. This was not the way the miners expressed it. They called him a "square" man, and that word expressed high moral praise. They all felt that Tom was going off in good company.

Before they went, the two had a chance for a speculation. Two weeks before, a man came to River Bend, across the country, with a horse and wagon, the latter an old express wagon, which he had brought round the Horn from some one of the Eastern States. What had induced him to take so much trouble to convey such bulky articles was not quite clear. Now that he was a miner he had no use for them, and at River Bend they were not saleable. This man, Abner Kent, came to Ferguson's tent, where he and Tom were resting after the labors of the day. He was a tall man, with a shambling gait and an angular face.

"Good-evening," he said. "If you ain't busy I'll sit down a few minutes."

"We are glad to see you Mr. Kent," said Ferguson. "Tom and I were discussing our plans, but we've plenty of time for that. Come in. Here's a place for you."

"I hear that you are going to leave us, you two?"

"Yes, Tom has some business in San Francisco, and I want to see a little more of the country."

"How are you going?"

"We'll take the cars if we can find any," answered Tom. "If we can't we'll foot it."

"That's what I came to see you about. You know I've got a horse and wagon."

"Yes."

"Why don't you buy it? You'll go easier and quicker."

"We can't afford it," said Ferguson. "Poor men must walk."

"You don't see the point. When you get through with the team, you can easily sell them for more than you gave. It will be a good speculation."

"That will depend on how much we give," said the Scotchman, shrewdly.

"To be sure, Mr. Ferguson. Now about that, I'll be easy. They ain't any good to me here. I'll take—let me see—four hundred dollars cash. You'll maybe double your money inside of a month."

The team did seem cheap at this price, as prices of all articles in a new country are very much enhanced.

"Tom and I will talk it over and let you know to-morrow morning," said Ferguson.

"That's all right. It's a good chance for you."

When Kent was gone Tom asked, "What do you think of his offer, Mr. Ferguson?"

"I think it will be a good investment, Tom, and that we shall be less likely to be robbed than if we carried gold-dust with us. You know how John Miles got robbed."

"I have only a hundred dollars," said Tom, doubtfully.

"I have enough to add to it, but I think we can get the team cheaper. I don't want to beat the man down, but a bargain is a bargain, and we must look out for our own interest."

"You know more about such things than I do, Mr. Ferguson; I will agree to anything you say."

"Very well, my lad, I shall be sure to consult your interest as well as my own. It will be very comfortable for us to have a team of our own."

"It will seem strange to me," said Tom, laughing. "What will they think at home when they hear that I have set up a carriage?"

"They might think it imprudent to invest all you had in that way; but we'll make money out of it yet, or I am sorely mistaken."

The next morning, while Tom and Ferguson were at work, Kent came up to them.

"What have you decided about the team?" he asked.

"We are not willing to pay four hundred dollars," said Ferguson.

"That's a fair price."

"It may be, but it will take all the money Tom and I can raise. You know it wouldn't be quite prudent for us to part with all our funds."

"I will take a note for part of the money," said Kent.

"That's very considerate of you, but scarcely prudent."

"Then don't you want it at all?" asked Kent, disappointed.

"Yes; we are prepared with an offer. We'll give you three hundred dollars."

Kent shook his head.

"That's too little," he said.

Ferguson remained silent. He wished to give Kent time to reflect upon his offer.

"Have you sold these claims of yours?" asked Kent, after a pause.

"No."

"Then add them to your offer, and I accept it."

This proposal struck Ferguson favorably. They could not carry away their claims, and very possibly no other purchaser might offer, as, except as regards location, other places along the river-bank could be had without cost.

"What do you say, Tom?" asked Ferguson.

"I agree if you do, Mr. Ferguson."

"Then it's a bargain, Mr. Kent. I hope it'll prove satisfactory to both of us."

"I don't think you'll regret it. It's a good speculation."

When the two friends had settled for their purchase, Tom paying one hundred and Ferguson two hundred dollars, our hero found himself left with twenty dollars, or its equivalent in gold-dust, while his companion had about one hundred and fifty left over.

"We shall go off in style," said Tom; "riding in our own carriage. But there's one thing I have been thinking of. I want to send a hundred dollars home as soon as I get the chance. Suppose we can't sell the team?"

"Have no fears about that, Tom. I'll lend you the money if that is the case; but, mark my word, we shan't have it left on our hands, of that you may be sure."

The night before they were to start Lawrence Peabody dropped in. He was looking down in the mouth.

"How does the world use you, Mr. Peabody?" inquired Tom.

"Fortune is against me," said Peabody. "I'm tired of River Bend."

Tom glanced at his companion. He could guess what was coming.

"Won't you take me with you, Tom?" entreated the young Bostonian.

"You must ask Mr. Ferguson. He is the head of our party."

Peabody looked appealingly towards Ferguson, but the Scotchman shook his head.

"You mustn't be offended, Mr. Peabody," he said, "when I tell you that you are responsible for your own bad luck. You have had just as good a chance as Tom or I."

"Your claim was better."

"There was no difference that I can see, except that we worked, and you didn't. You don't expect gold to come to you?"

"You and Tom are more used to hard work than I," murmured Peabody.

"If you did not feel able to work, you should not have come to California. A man must work harder here than at home, and then he stands a chance of succeeding better."

"Then you won't take me?" asked Peabody, sadly.

"Are you in debt to Captain Fletcher for board?"

Peabody reluctantly admitted that he was, but had no idea how much he owed.

"Fletcher tells me that he shall not trust you any longer."

Lawrence Peabody looked frightened.

"What shall I do?" he faltered. "I shall starve."

"You can't blame the captain; he knows that you spend the little money you do earn at the saloon. But he will give you a chance. There is no one to wash clothes in the camp, and we have all observed that you keep yours looking well. If you will set up a laundry, you can make more money than in any other way."

"But then I should be a common washer-woman," objected Peabody. "What would my friends in Boston say?"

"They won't hear of it. Besides, a man can do here what he would not do at home."

It may be stated here that Peabody, finding work absolutely needful, went into partnership with a Chinaman, who arrived at the camp a day or two later, and succeeded in making a fair living, which hitherto he had been unable to do. After he was employed, his visits to the saloon became less frequent. At times he was disturbed by the fear that his friends at home might learn the character of his employment; apart from this he found his new business, with the income it yielded, not distasteful.