o and
face him."

"Of course I shall go with you."

"You will? That's kind of you. Luckily he's a civilised man, not one of
the City brutes one might have had to deal with."

"We must hope he'll live up to his reputation," said Warburton, with
the first smile, and that no cheery one, which had risen to his lips
during this interview.

From that point the talk became easier. All the aspects of their
position were considered, without stress of feeling, for Will had
recovered his self-control; and Sherwood, soothed by the sense of
having discharged an appalling task, tended once more to sanguine
thoughts. To be sure, neither of them could see any immediate way out
of the gulf in which they found themselves; all hope of resuming
business was at an end; the only practical question was, how to earn a
living; but both were young men, and neither had ever known privation;
it was difficult for them to believe all at once that they were really
face to face with that grim necessity which they had thought of as
conquering others, but never them. Certain unpleasant steps, however,
had at once to be taken. Sherwood must give up his house at Wimbledon;
Warburton must look about for a cheap lodging into which to remove at
Michaelmas. Worse still, and more urgent, was the duty of making known
to Mrs. Warburton what had happened.

"I suppose I must go down at once," said Will gloomily.

"I see no hurry," urged the other. "As a matter of fact, your mother
and sister will lose nothing. You undertook to pay them a minimum of
three per cent. on their money, and that you can do; I guarantee you
that, in any case."

Will mused. If indeed it were possible to avoid the disclosure--? But
that would involve much lying, a thing, even in a good cause, little to
his taste. Still, when he thought of his mother's weak health, and how
she might be affected by the news of this catastrophe, he began
seriously to ponder the practicability of well-meaning deception. That,
of course, must depend upon their difficulties with Applegarth
remaining strictly private; and even so, could Mr. Turnbull's scent for
disaster be successfully reckoned with?

"Don't do anything hastily, Warburton, I beg of you," continued the
other. "Things are never so bad as they look at first sight. Wait till
I have seen--you know who. I might even be able to--but it's better not
to promise. Wait a day or two, at all events."

And this Warburton resolved to do; for, if the