the same purpose and be better
for Miss Gorham--still, of course, under his guidance--to take personal
charge of her own property and thus become thoroughly familiar with the
various investments?

Gorham heartily approved of Covington's suggestion, and so did Alice. To
the former it seemed to offer a natural vent for his daughter's desires;
to the girl it appeared as a real promotion. It was not necessary for
Covington to explain to his chief that the arrangement actually went
into effect several weeks before it was submitted to him for his
approval, nor did he take any credit to himself for the handsome profit
in certain street railways stock, which netted Alice thirty thousand
dollars as a result of her first investment. In fact, he modestly
cautioned his pupil to say nothing about it, on the ground that the next
investment might show a loss, and her father would be interested only
in final results.

During the weeks which succeeded the merger of the New York street
railways, Covington was more assiduous than ever in his attentions to
Alice, yet, even with Allen's jealous suggestions, the girl saw in them
nothing more than a continuation of their previous relations. His skill
in manipulating her securities increased her admiration, and the
incredible success filled her with joy. She was bursting with
enthusiasm, and longed for an opportunity to share her happiness at
least with Eleanor; but since the first confidences with her, she had
become convinced that her preceptor's restrictions included Eleanor as
well.

In spite of the care with which he selected the moment and the words,
when Covington actually declared himself it came to Alice not only as a
surprise, but as a distinct shock. At first she could not believe him
sincere, but he succeeded in convincing her on this point. He
interpreted her long silence and evident surprise as the natural
expression of a young girl face to face with the most vital problem
which ever comes to her. As a matter of fact, had Alice analyzed her
feelings, the compound would have proved to be made up in equal parts of
gratification, astonishment, and a broken idol. She was flattered that
this man should really wish to marry her, she was amazed that his
declaration did not arouse in her all those sentimental emotions which
she had associated with a moment such as this; and she instinctively
felt that he could not possibly be the great man she had considered him,
to desire what he ha