to selling those shares?"

"Two thousand pounds."

"Get along and earn it, then."

Dredlinton wrote in silence for several moments. Then he read the
document over to himself.

"'I, John Wingate--all my shares in the Universal Steamship Company, and
accept herewith as a deposit.' There, Mr. Wingate, I think you will find
that correct. Phipps shall write you a cheque Immediately."

He touched the bell. Phipps entered almost at the same moment.

"I am pleased to tell you," Dredlinton announced, "that I have induced
Mr. Wingate to see reason. He will sell the shares."

"My congratulations!" Phipps ventured, with a broad smile. "Mr. Wingate
has made a most wise and acceptable decision."

"Will you make out a cheque for ten thousand pounds as a deposit?"
Dredlinton continued. "Mr. Wingate will then sign the agreement I have
drawn up on the lines of the memorandum you left on the desk."

"With pleasure," was the brisk reply.

Wingate took up a pen, glanced through the agreement, and was on the
point of signing his name when a startled exclamation from the man by his
side caused him to glance up. The door had been opened. Harrison was
standing there, looking a little worried. His tone was almost apologetic.

"The Countess of Dredlinton," he announced.

The arrival of Josephine affected very differently the three men, to whom
her coming was equally surprising. Her husband, after an exclamation
which savoured of profanity, stared at her with a doubtful and malicious
frown upon his forehead. With Wingate she exchanged one swift glance of
mutual understanding. Phipps, after his first start of surprise, welcomed
her with the utmost respect and cordiality.

"My dear Lady Dredlinton," he declared, "this is charming of you! I had
really given up hoping that you would ever honour us with your presence."

"You can chuck all that, Phipps," Dredlinton interrupted curtly. "My wife
hasn't come here to bandy civilities. What do you want, madam?" he
demanded, moving a step nearer to her.

She held a slip of paper in her hand and unfolded it before their eyes.

"My husband," she said, "has justly surmised that I have not come here in
any spirit of friendliness, I have come to let Mr. Wingate know the
contents of this cable, which arrived soon after my husband left the
house this morning. The message was in code, but, as Mr. Wingate's name
appeared, I have taken the trouble to transcribe it."

"That's more than you could do, m