nything you should not know," she said with an
effort to choose her words carefully. "On the contrary, you should
know it. But it is never pleasant to be the bearer of--bad news."

"'Nothing is ever so bad that it might not be worse,'" he quoted,
endeavoring to cover his anxiety by a smile. "What is it, please?"

"It is about your uncle, Mr. Kendrick." She turned to face him
squarely and spoke rapidly. "We have undeniable proof that the
Honorable Milton Waring is in collusion with Nickleby--and,
incidentally, Rives--and they are planning to misuse the funds of the
Interprovincial Loan & Savings Company. They are meeting about
midnight on the twenty-seventh at your uncle's house--over on the
Island--to close a deal which involves control of Interprovincial
stock. Nickleby has agreed to dispose of his holdings and those of his
clique at grossly inflated prices and to provide the money for the
purchase by a large loan with very inadequate collateral security. In
plain language it is a huge steal which may mean, possibly, that the
loan company will have to close its doors."

CHAPTER XXII

LOWERING CLOUDS

Phil gazed gravely at the girl's flushed, excited face; then at the
pale, serious Jimmy Stiles. He could not smile at this startling
statement as an out-and-out absurdity when it was so apparent that both
of them were sincere in their belief that it was the truth.

"That is a pretty serious charge you are making, Miss Lawson," he said
quietly. "You speak of undeniable proof that my uncle is in collusion
with Nickleby. I think we may eliminate Rives as impossible in this
connection. As you know, my uncle was the man who put Rives in jail,
where he belonged. Just what do you mean by 'undeniable proof'?"

"It is true that Rives was jailed through your uncle's efforts, but
that was twelve years ago, Mr. Kendrick. Twelve years is a long
time--in office. Political brooms have an unfortunate tendency of late
years to lose their splinters very rapidly once they are sure of a
place inside the door and it isn't a great while before they no longer
sweep clean."

"'Undeniable proof,' I believe you said," persisted Phil.

"Jimmy overheard Nickleby and Rives calmly discussing the meeting with
the Honorable Milton Waring, which is to take place on the night of the
twenty-seventh, and while he was unable to obtain the full details of
the scheme which is being hatched with your uncle's co-operation, he
learn