, you'll be glad you did."

"I must think about it. You can call me up on the telephone at noon
to-morrow."

Gerald hesitated, and then made an abrupt movement as a man came into the
room. The latter crossed the floor and Gerald got up.

"Very well," he said, and went off.

Soon after Gerald had gone, the man Thorn had met in the hall came in and
he asked: "Do you know anything about _Ermentrudes_, Norton? I suppose
they're mining shares?"

"I wouldn't advise you to invest," the other replied. "The company has
seldom paid a dividend, but not long since a rumor got about that a new
shaft had bottomed on rich ore." He paused and shrugged. "Nobody knows
how such tales are started, but they appeal to optimistic outsiders who
like to think they've got a secret tip. Anyhow, there was some reckless
buying by people who expected developments at the shareholders' meeting.
They were disappointed, and are knocking prices down by their anxiety to
sell out."

Thorn thanked him and began to think. He wondered where Gerald had
managed to get two thousand pounds, since he imagined that nobody would
lend him the sum. He did not know much about banking, but it was possible
that Gerald had used his employers' money, hoping to replace it before he
was found out. Then, since two thousand pounds, used for a margin, would
cover a large number of shares, it looked as if Gerald had lost part of
the sum by previous speculations. While he pondered, the man whose entry
had seemed to disturb Gerald came to his table and sat down opposite.

"You obviously know young Osborn," he remarked.

Thorn said nothing for a moment or two. Hallam was not a public
money-lender, but sometimes negotiated private loans for extravagant
young men about town. One meets such people now and then at smart London
clubs, and Thorn imagined the fellow could throw some light on Gerald's
difficulties.

"We come from the same neighborhood," he replied.

"His father is a large landowner, I believe?"

"He has some land," said Thorn, who began to see his way. He had not yet
decided to help Gerald, but if he did, his help must be made as valuable
as possible. "The rents are low and the estate is encumbered," he
resumed. "On the whole, I don't think you would consider it good
security."

"Thank you for the hint. Osborn looked as if he had got a jar."

"I think he had. He bought some shares that have gone down sharply, and
since he's a bank-clerk I expect the loss is