s between Posh and his "guv'nor"
were as friendly as ever.

CHAPTER XII
THE _HENRIETTA_

During the winter of 1869-70 it seems that Posh conceived the idea that
the capital of the firm of FitzGerald and Fletcher justified the working
partner in increasing the stock-in-trade. A boat-building company at
Southwold put up some craft at auction, and among them was one which had
already seen a good deal of sea service named the _Henrietta_. This Posh
bought for about 100 pounds without consulting his partner. It
transpired afterwards that the sale was not acceptable to all the
shareholders of the company that owned the boat, especially to a Jerry
Cole, one of the principal shareholders, and there was a good deal of
bother for Posh in obtaining delivery of his purchase. It may be as well
to include all the letters relating to this transaction in one chapter
without regard to dates.

The first is dated February 1st--that is to say, February 1st, 1870--and
was written at Woodbridge by FitzGerald to his partner. The letter, as
handed to me by Posh, was incomplete, and lacked signature. No doubt the
second sheet had been lost with those "sackfuls."

"WOODBRIDGE, _February_ 1_st_.

"MY DEAR POSH,

"Mr. Spalding was with me last night; and I asked him if I was
justified in the scolding I gave you about buying the Lugger and Nets
too; telling him the particulars. He would not go so far as to say I
was _wrong_; but he thought that you were not to blame either.
Therefore I consider that I _was_ wrong; and, as I told you, I am very
glad to find myself wrong, though very sorry to have been so: and I
cannot let a day pass without writing to say so. You may think that I
had better have said nothing to anybody about it: but I always do ask
of another if I am right. If Mr. Spalding had been at Lowestoft at
the time all this would not have happened: as it _has_ happened, I
wish to take all the blame on myself.

"All this will make you wish the more to be quit of such a _Partner_.
I am sure, however, that I _thought_ myself right: and am glad to
recant. Perhaps another Partner would not do so much: but you say you
will not have another.

"Mr. Spalding thinks you would have done better to stick to _one_
Lugger, considering the double trouble of two. But he says he is not
a proper judge. _I_ think the chief evil is that this new Boat will
keep you ashor