since the days in which Fred Pepper first became familiar with
its loose boxes. No one knew how he lived or how he got his horses.
He had, however, a very pretty knack of selling them, and certainly
paid Mr. Horsball regularly. He was wont to vanish in April, and
would always turn up again in October. Some people called him the
dormouse. He was good-humoured, good-looking after a horsey fashion,
clever, agreeable, and quite willing to submit himself to any
nickname that could be found for him. He liked a rubber of whist, and
was supposed to make something out of bets with bad players. He rode
very carefully, and was altogether averse to ostentation and bluster
in the field. But he could make a horse do anything when he wanted
to sell him, and could on an occasion give a lead as well as any man.
Everybody liked him, and various things were constantly said in his
praise. He was never known to borrow a sovereign. He had been known
to lend a horse. He did not drink. He was a very safe man in the
field. He did not lie outrageously in selling his horses. He did not
cheat at cards. As long as he had a drop of drink left in his flask,
he would share it with any friend. He never boasted. He was much
given to chaff, but his chaff was good-humoured. He was generous with
his cigars. Such were his virtues. That he had no adequate means of
his own and that he never earned a penny, that he lived chiefly by
gambling, that he had no pursuit in life but pleasure, that he never
went inside a church, that he never gave away a shilling, that he was
of no use to any human being, and that no one could believe a word he
said of himself,--these were specks upon his character. Taken as a
whole Fred Pepper was certainly very popular with the gentlemen and
ladies of the B. and B.

Ralph Newton when he dropped down upon the Moonbeam was made loudly
welcome. Mr. Horsball, whose bill for L500 had been honoured at its
first day of maturity, not a little, perhaps, to his own surprise,
treated Ralph almost as a hero. When Ralph made some reference to the
remainder of the money due, Mr. Horsball expressed himself as quite
shocked at the allusion. He had really had the greatest regret in
asking Mr. Newton for his note of hand, and would not have done it,
had not an unforeseen circumstance called upon him suddenly to make
up a few thousands. He had felt very much obliged to Mr. Newton for
his prompt kindness. There needn't be a word about the remainder,
a