man.

The young man had dropped the air of sarcasm which he found was most
effective with the clerks, and had resumed his natural manner, which was
harsh and brusque.

"What's up!" he asked, dropping back into a chair, and jingling the
loose coins in his trouser pockets.

"I have had news of the _Black Eagle_," his father answered. "She is
reported from Madeira."

"Ah!" cried the junior partner eagerly. "What luck?"

"She is full, or nearly so, according to Captain Hamilton Miggs'
report."

"I wonder Miggs was able to send a report at all, and I wonder still
more that you should put any faith in it," his son said impatiently.
"The fellow is never sober."

"Miggs is a good seaman, and popular on the coast. He may indulge at
times, but we all have our failings. Here is the list as vouched for by
our agent. 'Six hundred barrels of palm oil'--"

"Oil is down to-day," the other interrupted.

"It will rise before the _Black Eagle_ arrives," the merchant rejoined
confidently. "Then he has palm nuts in bulk, gum, ebony, skins,
cochineal, and ivory."

The young man gave a whistle of satisfaction. "Not bad for old Miggs!"
he said. "Ivory is at a fancy figure."

"We are sorely in need of a few good voyages," Girdlestone remarked,
"for things have been very slack of late. There is one very sad piece
of intelligence here which takes away the satisfaction which we might
otherwise feel. Three of the crew have died of fever. He does not
mention the names."

"The devil!" said Ezra. "We know very well what that means.
Three women, each with an armful of brats, besieging the office and
clamouring for a pension. Why are seamen such improvident dogs?"

His father held up his white hand deprecatingly. "I wish," he said,
"that you would treat these subjects with more reverence. What could be
sadder than that the bread-winner of a family should be cut off? It has
grieved me more than I can tell."

"Then you intend to pension the wives?" Ezra said, with a sly smile.

"By no means," his father returned with decision. "Girdlestone and Co.
are not an insurance office. The labourer is worthy of his hire, but
when his work in this world is over, his family must fall back upon what
has been saved by his industry and thrift. It would be a dangerous
precedent for us to allow pensions to the wives of these sailors, for it
would deprive the others of all motive for laying their money by, and
would indirectly encoura