entieth birthday drowned himself."

At this point Empson sniggered audibly. The speaker turned his head
and fixed his terrifying glance upon the delinquent. Poor Empson grew
very red, and endeavoured to cover his lapse by coughing noisily. The
other waited patiently till he had finished.

"Perhaps you wish to say something, Sir," he remarked coldly.

"N-no," said Empson. "Most interesting."

The President made a gesture which indicated that Empson was beneath
contempt and renewed his discourse.

"Continuing the same method of research," he said, "we compiled a list
of nearly four hundred persons born on March 3rd. To each of these we
sent particulars of a Derby Sweepstake. _Every one of them, gentlemen,
applied for a ticket by return of post._"

There was an impressive pause. The President looked round the carriage
defiantly as if challenging suspicion.

"One of our tests with regard to to-day's date--liars' day," he
continued presently, "was rather amusing. We hired a room in the City
for a week and sent out over three hundred letters to persons born
on that day. Our notepaper was headed, 'Short, Stay and Hoppett,
Solicitors,' and the letters were in identical terms. They said that
we had been endeavouring for some time to trace the relatives of one
Davy Jones, who, after acquiring a large fortune in Australia, had
died intestate, and we had that morning been given to understand that
the gentleman with whom we wore corresponding was a nephew of the
deceased, etc., etc. You guess what happened. _Every one of them
without exception claimed as his uncle this millionaire who never
existed._"

The train began to slow down, and the President rose to his feet.

"I get out here," he said. "I'm sorry. I should like to have
discussed the subject further. You, Sir"--he pointed threateningly at
Ferguson--"will doubtless in future refrain from blaming Mr. ---- for
a failing for which, as you see, he is in no way responsible."

Ferguson quaked and said nothing.

The President brushed up his moustache still higher and looked round
in triumph. All of us were completely cowed--all of us, except little
Windsor.

"Just a moment, Sir," said the latter gently. "Before you leave us
will you kindly accept this?"

He took out his tie-pin and laid it in the other's hand.

For the first time the burly one's confidence deserted him. He
reddened slightly and looked embarrassed.

"It's very kind of you," he said, "but really I--