h ally, openly advised him to give up business and travel for a
year. Their prejudice was certainly not unnatural, and had been
strengthened by the perusal of the unsavoury details published by the
papers at each new bankruptcy during the year. But they found Orsino now
always the same, always quiet, good-humoured and firm in his projects.

Andrea Contini had not been very exact in his calculation of the date at
which the last door and the last window would be placed in the last of
the houses which he and Orsino had undertaken to build. The disturbance
in business might account for the delay. At all events it was late in
April of the following year before the work was completed. Then Orsino
went to Del Ferice.

"Of course," he said, maintaining the appearance of calm which had now
become habitual with him, "I cannot expect to pay what I owe the bank,
unless I can effect a sale of these buildings. You have known that, all
along, as well as I. The question is, can they be sold?"

"You have no applicant, then?" Del Ferice looked grave and somewhat
surprised.

"No. We have received no offer."

"You owe the bank a very large sum on these buildings, Don Orsino."

"Secured by mortgages on them," answered the young man quietly, but
preparing for trouble.

"Just so. Secured by mortgages. But if the bank should foreclose within
the next few months, and if the buildings do not realize the amount
secured, Contini and Company are liable for the difference."

"I know that."

"And the market is very bad, Don Orsino, and shows no signs of
improvement."

"On the other hand the houses are finished, habitable, and can be let
immediately."

"They are certainly finished. You must be aware that the bank has
continued to advance the sums necessary for two reasons. Firstly,
because an expensive but habitable dwelling is better than a cheap one
with no roof. Secondly, because in doing business with Andrea Contini
and Company we have been dealing with the only really honest and
economical firm in Rome."

Orsino smiled vaguely, but said nothing. He had not much faith in Del
Ferice's flattery.

"But that," continued the latter, "does not dispense us from the
necessity of realising what is owing to us--I mean the bank--either in
money, or in an equivalent--or in an equivalent," he repeated,
thoughtfully rolling a big silver pencil case backward and forward upon
the table under his fat white hand.

"Evidently," assented Orsino. "U