d into his own house, apologising most amiably
to his servant for having kept him up. There were a few letters for him
and he opened and read those, then lit his bed-candle and went upstairs,
but instead of undressing, sat for a full quarter of an hour in his
armchair thinking. Then he spoke softly to himself.

"I think dear Mills means mischief in some way," he said. "But really for
the moment it puzzles me to know what. However, I shall see tomorrow. Ah,
I wonder if I guess!"

Then he went to bed, but contrary to custom did not get to sleep for a
long time. But when he did there was a smile on his lips; a patient
contented smile.

CHAPTER III

Mr. Taynton's statement to his partner, which had taken him so few
minutes to give, was of course concerned only with the latest financial
operation which he had just embarked in, but for the sake of the reader
it will be necessary to go a little further back, and give quite shortly
the main features of the situation in which he and his partner found
themselves placed.

Briefly then, just two years ago, at the time peace was declared in South
Africa, the two partners of Taynton and Mills had sold out L30,000 of
Morris Assheton's securities, which owing to their excellent management
was then worth L40,000, and seeing a quite unrivalled opportunity of
making their fortunes, had become heavy purchasers of South African
mines, for they reasoned that with peace once declared it was absolutely
certain that prices would go up. But, as is sometimes the way with
absolute certainties, the opposite had happened and they had gone down.
They cut their loss, however, and proceeded to buy American rails. In six
months they had entirely repaired the damage, and seeing further
unrivalled opportunities from time to time, in buying motorcar shares, in
running a theatre and other schemes, had managed a month ago to lose all
that was left of the L30,000. Being, therefore, already so deeply
committed, it was mere prudence, the mere instinct of self-preservation
that had led them to sell out the remaining L10,000, and to-day Mr.
Taynton had bought an option in Boston Copper with it. The manner of an
option is as follows:

Boston Copper to-day was quoted at L5 10S 6d, and by paying a premium of
twelve shillings and sixpence per share, they were entitled to buy Boston
Copper shares any time within the next three months at a price of L6 3s.
Supposing therefore (as Mr. Taynton on very good