culators in the world, who is coming over on purpose to do
what up to now our own men seem to have funked--fight the B. & I. tooth
and nail."

"Who's that, Ken?" Maurice White asked with interest. "Why haven't I
heard about him before?"

"Because," Kendrick replied, "he wrote and told me that he was coming
and marked his letter 'Private,' so I thought that I had better keep it
to myself. His boat was due in Liverpool several days ago, though, so I
suppose that any one who is interested knows all about his coming by
this time."

"But his name?" Sarah demanded. "Why don't you tell us his name and all
about him? I love American millionaires who do things in Wall Street
and fight with billions. If he's really nice, he may take me off your
hands, Jimmy."

"I'd like to see him try," that young man growled, with unexpected
fierceness.

"Well, his name is John Philip Wingate," Kendrick told them. "He started
life, I believe, as a journalist. Then he inherited a fortune and made
another one on Wall Street, where I imagine he came across Dreadnought
Phipps. What happened I don't exactly know," he went on ruminatively.
"Phipps couldn't have squeezed him, or we should have heard about it, but
somehow or other the two got at loggerheads, for it's common knowledge
amongst their business connections--I don't know that they have any
friends--that Wingate has sworn to break Phipps. There will be quite a
commotion in the City when it gets about that Wingate is here or on his
way over."

"It's almost like a romance," Sarah declared, as she took the ice which
her cavalier had brought her and settled down once more in her chair.
"Tell me more about Mr. Wingate, please. Mr. Phipps I know, of course,
and he doesn't seem in the least terrifying. Is Mr. Wingate like that or
is he a dourer type?"

"John Wingate," Kendrick said reflectively, "is a much younger man than
Phipps---I should say that he wasn't more than thirty-five--and much
better-looking. I must say that in a struggle I shouldn't know which to
back. Wingate has sentiment and Phipps has none; conscience of which
Phipps hasn't a shred, and a sense of honour with which Phipps was
certainly never troubled. These points are all against him in a market
duel, but on the other hand he has a bigger outlook than Phipps, he has
nerves of steel and the grit of a hero. Did I tell you, by the by, that
he went into the war as a private and came out a brigadier?"

"Splendid!" Sarah murmu