uffly. 'Nevertheless, I am not one who wishes to ride roughshod over
public opinion.

'I am chairman of several companies which depend more or less on
popular favour for success. I deplore unnecessary antagonism.
Technically, I might assert my right to destroy this ancient
stronghold tomorrow if I wished to do so, and if that right were
seriously disputed, I should, of course, stand firm. But it is not
seriously disputed. The British nation, sir, is too sensible a people
to object to the removal of an antiquated structure that has long
outlived its usefulness, and the erection of a mansion replete with
all modern improvements would be a distinct addition to the country,
sir. A few impertinent busybodies protest against the demolition of
Rantremly Castle, but that is all.'

'Ah, then you _do_ intend to destroy it?' I rejoined, and it is
possible that a touch of regret was manifest in my tones.

'Not just at present; not until this vulgar clamour has had time to
subside. Nevertheless, as a business man, I am forced to recognise
that a large amount of unproductive capital is locked up in that
property.'

'And why is it locked up?'

'Because of an absurd belief that the place is haunted. I could let it
tomorrow at a good figure, if it were not for that rumour.'

'But surely sensible men do not pay any attention to such a rumour.'

'Sensible men may not, but sensible men are often married to silly
women, and the women object. It is only the other day that I was in
negotiation with Bates, of Bates, Sturgeon and Bates, a very wealthy
man, quite able and willing to pay the price I demanded. He cared
nothing about the alleged ghost, but his family absolutely refused to
have anything to do with the place, and so the arrangement fell
through.'

'What is your theory regarding this ghost, my lord?'

He answered me with some impatience.

'How can a sane man hold a theory about a ghost? I can, however,
advance a theory regarding the noises heard in the castle. For years
that place has been the resort of questionable characters.'

'I understand the Rantremly family is a very old one,' I commented
innocently, but his lordship did not notice the innuendo.

'Yes, we are an old family,' he went on with great complacency. 'The
castle, as perhaps you are aware, is a huge, ramshackle place,
honeycombed underneath with cellars. I dare say in the old days some
of these cellars and caves were the resort of smugglers, and the
rece