what he
is talking about. I see the colt has come back in the betting to eight
to one, and the public never seem to be tired of backing him. That,
however, is the public's look-out and is no concern of yours. In the
colt's present condition you will be justified in putting a pen through
his name and nobody could blame you. Owners don't raise horses for the
benefit of the public, and if the public choose to come in and forestall
the market and the horse is scratched, then they must take the
consequences. It has been done over and over again, and I don't see why
you shouldn't do it yourself. You needn't do it to-day, or to-morrow, or
even next week, but if I can assure Absalom that this is going to
happen, why, in that case, I feel certain these proceedings will be
withdrawn, and perhaps such terms arranged as will wipe the debt out
altogether. Do you follow me?"

Sir George sat white and rigid. He seemed trying dimly to comprehend
what Copley was driving at. All the time Copley was speaking he did not
meet the eye of his victim. But Sir George's face was no index of his
feelings. He was quivering from head to foot with a nameless indignation
and, though Copley did not know it, was within an ace of inflicting
personal punishment on the financier.

"You can't be in earnest," Sir George said with difficulty. "Surely, you
were joking when you asked me to do this thing? Why, it would be
contemptible, dishonourable to the last degree. I expect to win a
fortune with the Blenheim colt, but I backed him at a very long price,
and if he breaks down the loss will not be so great. It would be bad
enough to lose a fortune which I regarded as as good as in my pocket,
but deliberately to scratch the horse, to wait for a fortnight whilst
these friends of yours are laying against the colt, is an insult which I
did not dream any man would put upon me."

"You will pardon me if I don't see it in that light," Copley said
coolly. "You have a right to do what you like with your own. You are
justified in scratching the horse and, indeed, you have every excuse for
doing so. I don't see that it matters much whether it is done to-day or
in a fortnight's time. You may lose the few thousands pounds you put on
the colt, but that seems probable in any case. And, on the other hand,
you have it in your power to wipe out your debt to me--that is, to
benefit to the extent of forty thousand pounds."

Sir George's indignation began to ebb. He no longer