green tie, the
pepper-and-salt check suit that was loose and at the same time
well-fitting, and the jewelled ring on his plump little finger. On the
whole, Mr. Spence was not only prepossessing, but he contrived to give
Honora, as she shook his hand, the impression of being brought a step
nearer to the national source of power. Unlike the Vicomte, he did not
appear to have been instantly and mortally wounded upon her arrival on
the scene, but his greeting was flattering, and he remained by her side
instead of returning to that of Mrs. Robert.

"When did you come up?" he asked.

"Only yesterday," answered Honora.

"New York," said Mr. Spence, producing a gold cigarette case on which his
monogram was largely and somewhat elaborately engraved, "New York is
played out this time of year--isn't it? I dropped in at Sherry's last
night for dinner, and there weren't thirty people there."

Honora had heard of Sherry's as a restaurant where one dined fabulously,
and she tried to imagine the cosmopolitan and blissful existence which
permitted "dropping in at" such a place. Moreover, Mr. Spence was plainly
under the impression that she too "came up" from New York, and it was
impossible not to be a little pleased.

"It must be a relief to get into the country," she ventured.

Mr. Spence glanced around him expressively, and then looked at her with a
slight smile. The action and the smile--to which she could not refrain
from responding--seemed to establish a tacit understanding between them.
It was natural that he should look upon Silverdale as a slow place, and
there was something delicious in his taking, for granted that she shared
this opinion. She wondered a little wickedly what he would say when he
knew the truth about her, and this was the birth of a resolution that his
interest should not flag.

"Oh, I can stand the country when it is properly inhabited," he said, and
their eyes met in laughter.

"How many inhabitants do you require?" she asked.

"Well," he said brazenly, "the right kind of inhabitant is worth a
thousand of the wrong kind. It is a good rule in business, when you come
across a gilt-edged security, to make a specialty of it."

Honora found the compliment somewhat singular. But she was prepared to
forgive New York a few sins in the matter of commercial slang: New York,
which evidently dressed as it liked, and talked as it liked. But not
knowing any more of a gilt-edged security than that it was something