said. "I negotiated the last
loan rather as a favor than a matter of business."

Mordaunt smiled indulgently. "For all that, you lend money; your
clients', I suppose. I don't know if your legal business would keep
you going long."

"If we invest in anything outside the regular high-class securities, we
run some risk."

"I don't think the risk is great," Mordaunt replied. "I sometimes
speculate, and you have grounds for knowing I'm generally lucky. Well,
some friends floated a small private company to develop a West Indian
estate and we have spent much of our capital on new plantations. The
value of our produce is rising, but we need funds to carry us on until
the crop is shipped and have agreed to a fresh levy. I must pay my
share."

"The sum is large."

"You lent me nearly as much before."

"I did," said Holbrook. "Things were different then----"

He stopped, and Mordaunt gave him a keen glance. Holbrook's hesitation
was curious.

"How are things different?" Mordaunt asked.

"You bought shares that seldom fluctuate much. You risked losing a
small margin; now you may lose the principal."

"The loss would be mine. I have always paid."

"That is so. The trouble is, if this venture went wrong you might not
be able to pay."

Mordaunt was silent for a few moments. Holbrook had been willing to
negotiate the other loans; it looked as if the fellow had now less
grounds for trusting him, although it was not his honesty but his power
to pay he doubted. Why did Holbrook think his power had got less?

"Am I to understand you refuse to lend?" he asked.

"I would sooner not. However, if a smaller sum----"

"A smaller sum would not help," Mordaunt replied with a touch of
haughtiness. "Well, I will not urge you and dare say you are occupied."

The lawyer let him go and Mordaunt thought hard as he drove home.
Holbrook had formerly been accommodating, as if he wanted to satisfy a
client whose business might by and by be valuable, but his attitude was
now different. There was no traffic on the road that went up a long
hill, and Mordaunt could concentrate on the puzzle. When he was
half-way up he began to see a light. Bernard had gone to town and had
stayed some time; he had probably called on the lawyers who had made
his will. The light got clearer and when Mordaunt reached the top he
thought he understood.

Bernard had altered his will and Mordaunt would not get as much as he,
and no doubt Holb