hem," he answered.

He remained about an hour, declined to stay for lunch, and Eve did not
press him.

He motored to the stud and found Sam Kerridge, his stud groom, waiting
for him. Sam had been at the stud since its foundation. He was a
clever man with horses, an excellent judge, and a shrewd buyer.

"That American has been here again," he said. "He's dead set on buying
Mameluke; I have tried to convince him he's not for sale."

"So have I," said Alan with a laugh. "Perhaps he thinks you can
persuade me to part with him; Valentine Braund is a persevering man."

"Like most Americans, he has plenty of cheek," said Sam. "It's a big
offer he has made."

"Thirty thousand, and Mameluke's not a young horse," said Alan.

"It's tempting," said Sam.

"I have half a mind to take it," said Alan. "There's Alfonso coming
on; he ought to make a name for himself."

"He will. I think he'll beat Mameluke's record," said Sam.

"That will be difficult. What did you say to Braund?"

"Not much; he didn't seem to believe me when I said money would not buy
him."

"I'll think it over; it's a big price," said Alan.

He went round the stud with Sam and as usual found everything in order.
Mameluke was a splendid dark bay horse, Alfonso a bright chestnut;
there was little to choose between them in point of appearance. Alan
was very fond of Mameluke; the horse had done good service at the stud,
sired many big winners, and he was reluctant to part with him. Alfonso
was worthy to take his place as the leading sire. He was a much
younger horse and his stock already showed great promise.

The mares were a splendid lot; the best blood in the world coursed
through their veins, and Alan never spared expense when he wished to
purchase. When he left, Sam Kerridge wondered what had induced him to
change his mind.

"He's inclined to consider the American's offer," he thought. "It's a
tall price, and I don't think Mameluke, at his age, is worth any more.
I shan't be surprised if the deal comes off."

The reason Alan was inclined to consider Valentine Braund's offer for
Mameluke favorably was because of the information he had received from
Duncan Fraser's Berlin correspondent. He knew if there was war it
would make a vast difference to racing, and that the price of
thoroughbreds would be considerably lowered. Thirty thousand is not a
sum to be ignored, even by a very rich man, and Alan knew Mameluke had
seen his best days. H