bert have been quite
in order, all through, I suppose--and quite ordinary?"

"Quite in order, and quite ordinary," answered the stockbroker readily.
"He was sent to me by the manager of the Scottish-American Bank, who
knows that I do a considerable business in first-class American
securities and investments. Sir Gilbert told me that he was disposing of
a great deal of his property in England and wished to re-invest the
proceeds in American stock. He gave me to understand that he wished to
spend most of his time over there in future, as neither he nor his wife
cared about Hathercleugh, though they meant to keep it up as the family
estate and headquarters. He placed considerable sums of money in my hands
from time to time, and I invested them in accordance with his
instructions, handing him the securities as each transaction was
concluded. And--that's really all I know."

Mr. Lindsey got in his word before Mr. Portlethorpe could speak again.

"There are just two questions I should like to ask--to which nobody can
take exception, I think," he said. "One is--I gather that you've invested
all the money which Sir Gilbert placed in your hands?"

"Yes--about all," replied Mr. Paley. "I have a balance--a small balance."

"And the other is this," continued Mr. Lindsey: "I suppose all these
American securities which he now has are of such a nature that they could
be turned into cash at any time, on any market?"

"That is so--certainly," assented Mr. Paley. "Yes, certainly so."

"Then that's enough for me!" exclaimed Mr. Lindsey, rising and beckoning
me to follow. "Much obliged to you, sir."

Without further ceremony he stumped out into the street, with me at his
heels, to be followed a few minutes later by Mr. Portlethorpe. And
thereupon began a warm altercation between them which continued until all
three of us were stowed away in a quiet corner of the smoking-room in the
hotel at which it had been arranged Mr. Gavin Smeaton was to seek us on
his arrival--and there it was renewed with equal vigour; at least, with
equal vigour on Mr. Lindsey's part. As for me, I sat before the two
disputants, my hands in my pockets, listening, as if I were judge and
jury all in one, to what each had to urge.

They were, of course, at absolutely opposite poles of thought. One man
was approaching the matter from one standpoint; the other from one
diametrically opposed to it. Mr. Portlethorpe was all for minimizing
things, Mr. Lindsey all fo