ically threw L8 4_s._ 6_d._ on the table.

"This morning I pawned the Island Cup, which you won for us," he said
bitterly. "That is the result, and that is what stands between me and
starvation." His voice broke, "And--and between Madge and starvation,"
he added.

Ralph laughed gaily. "I'm not rich," he said, "and if I were I don't
suppose you'd accept money from me. But I came here purposely to put you
in the way of making it. Wager as heavily as you can on Smasher Mike.
The odds are a hundred to one against him. I can introduce you to a man
who will consider your name sufficient security for a loan of L5,000.
That will bring you in L500,000, which should secure you at any rate
from absolute privation. As for little Madge--well, I have a bare L8,000
a year, but if----"

A light step was heard behind him, and a small hand stole into his own.

"I would marry you," said Lady Margaret, "I would marry you if it were
only L7,000."

As the lovers gazed fondly into each other's eyes, a sinister figure
emerged from the grand piano and slipped out noiselessly through the
open door.

(_To be concluded in our next._)

* * * * *

Illustration: _Burglar (to his mate)._ "SEE WOT PEOPLE GITS FUR BEIN'
UNPATRIOTIC! IT'S A PURE TREAT TO GIVE THESE 'ERE GOLD 'OARDERS A
LESSON."

* * * * *

Sad Case of Cannibalism by Robert.

"Milton scarcely heard her. He was too intent upon wondering how
Robert came to be dining tete-a-tete with the one-time Adeline
Goodrin, and--if the truth be told--upon that amazing woman,
herself."

_"Daily Mail" feuilleton._

* * * * *

From _Chemistry of Plant Products_:--

"D'Arbamont concludes that starch, and presumably also sugar, may or
may not be essential for the formation of chlorophyll."

We came to the same conclusion long ago.

* * * * *

Illustration: _Excited Veteran._ "THE ALLIES WILL PROBABLY REACH HERE
AND THEN SWEEP ROUND WITH A SUDDEN FLANKING MOVEMENT."

* * * * *

OUR BOOKING-OFFICE.

(_By Mr. Punch's Staff of Learned Clerks._)

The heroine of _Alberta and the Others_ (SIDGWICK AND JACKSON) was the
eldest of an orphaned family of girls and boys who were finding life a
little boring in an English village; and when an unexpected legacy made
her mistress of a couple of town lots in