ke most elderly people who have passed their lives in one
place, was full of inquiries as to the spots I had last visited, the
incidents of my voyage, and so on. Having satisfied his curiosity in
this respect, and indulged in a little desultory chat, I unfolded the
special object of my call to him, explaining my position, and asking him
what he thought of my plan.

"Well," said he, when I had finished my story, "shipping, and matters
connected therewith, are rather out of my line, as you are no doubt
aware; but if you can see your way to make the purchase of a ship a
paying transaction I should think there ought not to be any very serious
difficulty about finding the funds: the money market is said to be
tight, just now, it is true; but my experience is that there is always
plenty of money to be had when the prospects of a profitable investment
are fairly promising. Now, for instance, it is really a most curious
coincidence that you should have called upon me just at this time, for
it happens that certain mortgages I held have recently been paid off,
and I have been casting about for some satisfactory re-investment in
which to employ the money. How much do you think it probable you will
require?"

I made a rapid calculation, and named the sum which I thought would
suffice.

"Coincidence number two!" he exclaimed. "Singularly enough, that
happens to be precisely the amount I now have lying idle. Now, Jack, my
lad, I have known you from a boy; and, though it is an axiom with us
lawyers never to think well of anything or anybody, I would stake my
last penny upon your integrity. So far as your honesty is concerned I
would not hesitate to advance you any sum you might require that I could
spare, upon the mere nominal security of your note of hand. But there
are other risks than that of the borrower's dishonesty to be considered,
and they must be guarded against. Take, for example, the possibility of
your failing to find remunerative employment for your ship. How is that
to be guarded against?"

"You would hold a bottomry bond--in other words, a mortgage--upon the
ship for the amount of your debt, which would constitute an ample
security for its recovery," I replied.

"Um--yes; just so," he commented. "Still, a ship is not a house; the
cases are by no means parallel. Then, there is the risk of loss, total
or partial. The ship might be stranded, and receive so much damage that
it would cost more than she was