e had the pleasure of seeing you--too long indeed for brother
directors! How are Mrs. Sawley and Miss Selina? Won't you take a cup of
coffee?"

"Grass, sir, grass!" said Mr. Sawley, with a sigh like the groan of
a furnace-bellows. "We are all flowers of the oven--weak, erring
creatures, every one of us. Ah, Mr. Dunshunner, you have been a great
stranger at Lykewake Terrace!"

"Take a muffin, Mr. Sawley. Anything new in the railway world?"

"Ah, my dear sir,--my good Mr. Augustus Reginald,--I wanted to have some
serious conversation with you on that very point. I am afraid there is
something far wrong indeed in the present state of our stock."

"Why, to be sure it is high; but that, you know, is a token of the
public confidence in the line. After all, the rise is nothing compared
to that of several English railways; and individually, I suppose,
neither of us has any reason to complain."

"I don't like it," said Sawley, watching me over the margin of his
coffee-cup; "I don't like it. It savours too much of gambling for a man
of my habits. Selina, who is a sensible girl, has serious qualms on the
subject."

"Then why not get out of it? I have no objection to run the risk, and if
you like to transact with me, I will pay you ready money for every share
you have at the present market price."

Sawley writhed uneasily in his chair.

"Will you sell me five hundred, Mr. Sawley? Say the word and it is a
bargain."

"A time-bargain?" quavered the coffin-maker.

"No. Money down, and scrip handed over."

"I--I can't. The fact is, my dear young friend, I have sold all my stock
already!"

"Then permit me to ask, Mr. Sawley, what possible objection you can have
to the present aspect of affairs? You do not surely suppose that we are
going to issue new shares and bring down the market, simply because you
have realised at a handsome premium?"

"A handsome premium! O Lord!" moaned Sawley.

"Why, what did you get for them?"

"Four, three, and two and a half."

"A very considerable profit indeed," said I; "and you ought to be
abundantly thankful. We shall talk this matter over at another time, Mr.
Sawley, but just now I must beg you to excuse me. I have a particular
engagement this morning with my broker--rather a heavy transaction to
settle--and so--"

"It's no use beating about the bush any longer," said Mr. Sawley, in an
excited tone, at the same time dashing down his crape-covered castor on
the floor. "Did you ever s