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sell me his gramophone, but I had a look at it. As I suspected, it had no needle. A gramophone without a needle," said Bones, "as you probably know, my dear old musical one, is wholly useless."

"But you can buy them at a bob a box," said Hamilton.

Bones's face fell.

"Can you really?" he demanded. "You are not pulling my leg, or anything? That's what the other fellow said. I do a little gambling," Bones went on, "not on the Stock Exchange or on the race-course, you understand, but in Exchanges."

"Money Exchanges?"

Bones bowed his head.

"For example," he said, "to-day a pound is worth thirty-two francs, to-morrow it is worth thirty-four francs. To-day a pound is worth four dollars seventy-seven----"

"As a matter of fact, it is three dollars ninety-seven," interrupted Hamilton.

"Ninety-seven or seventy-seven," said Bones irritably, "what is four shillings to men like you or me, Hamilton? We can well afford it."

"My dear chap," said Hamilton, pardonably annoyed, "there is a difference of four shillings between your estimate and the rate."

"What is four shillings to you or me?" asked Bones again, shaking his head solemnly. "My dear old Ham, don't be mean."

There was a discreet tap on the door, and Bones rose with every evidence of agitation.

"Don't stir, dear old thing," he pleaded in a husky whisper. "Pretend not to notice, dear old Ham. Don't be nervous--wonderful young lady----"

Then, clearing his throat noisily, "Come in!" he roared in the tone that a hungry lion might have applied to one of the early Christian martyrs who was knocking by mistake on the door of his den.

In spite of all injunctions, Hamilton did look, and he did stare, and he did take a great deal of notice, for the girl who came in was well worth looking at. He judged her to be about the age of twenty-one. "Pretty" would be too feeble a word to employ in describing her. The russet-brown hair, dressed low over her forehead, emphasized the loveliness of eyes set wide apart and holding in their clear depths all the magic and mystery of womanhood.

She was dressed neatly. He observed, too, that she had an open book under her arm and a pencil in her hand, and it dawned upon him slowly that this radiant creature was--Bones's secretary!

Bones's secretary!

He stared at Bones, and that young man, very red in the face, avoided his eye.

Bones was standing by the desk, in the attitude of an after-dinner speaker who was stuck for the right word. In moments of extreme agitation Bones's voice became either a growl or a squeak--the bottom register was now in exercise.

"Did--did you want me, young miss?" he demanded gruffly.

The girl at the door hesitated.

"I'm sorry--I didn't know you were engaged. I wanted to see you about the Abyssinian----"

"Come in, come in, certainly," said Bones more gruffly than ever. "A new complication, young miss?"

She laid a paper on the desk, taking no more notice of Hamilton than if he were an ornament on the chimney-piece.

"The first instalment of the purchase price is due to-day," she said.

"Is it?" said Bones, with his extravagant surprise. "Are you certain, young miss? This day of all days--and it's a Thursday, too," he added unnecessarily.

The girl smiled and curled her lip, but only for a second.

"Well, well," said Bones, "it's a matter of serious importance. The cheque, jolly old young miss, we will sign it and you will send it off. Make it out for the full amount----"

"For the three thousand pounds?" said the girl.

"For the three thousand pounds," repeated Bones soberly. He put in his monocle and glared at her. "For the three thousand pounds," he repeated.

She stood waiting, and Bones stood waiting, he in some embarrassment as to the method by which the interview might be terminated and his secretary dismissed without any wound to her feelings.

"Don't you think to-morrow would do for the cheque?" she asked.

"Certainly, certainly," said Bones. "Why not? To-morrow's Friday, ain't it?"

She inclined her head and walked out of the room, and Bones cleared his throat once more.

"Bones----"

The young man turned to meet Hamilton's accusing eye.

"Bones," said Hamilton gently, "who is the lady?"

"Who is the lady?" repeated Bones, with a cough. "The lady is my secretary, dear old inquisitor."

"So I gather," said Hamilton.

"She is my secretary," repeated Bones. "An extremely sensible young woman, extremely sensible."

"Don't be silly," said Hamilton. "Plenty of people are sensible. When you talk about sensible young women, you mean plain young women."

"That's true," said Bones; "I never thought of that. What a naughty old mind you have, Ham."

He seemed inclined to change the subject.

"And now, dear old son," said Bones, with a brisk return to his what-can-I-do-for-you air, "to business! You've come, dear old thing, to consult me."

"You're surprisingly right," said Hamilton.

"Well," said Bones, trying three drawers of his desk before he could find one that opened, "have a cigar, and let us talk."

Hamilton took the proffered weed and eyed it suspiciously.

"Is this one that was given to you, or one that you bought?" he demanded.

"That, my jolly old officer," said Bones, "is part of a job lot that I bought pretty cheap. I've got a rare nose for a bargain----"

"Have you a rare nose for a cigar, that's the point?" asked Hamilton, as he cut off the end and lit it gingerly.

"Would I give you a bad cigar?" asked the indignant Bones. "A gallant old returned warrior, comrade of my youth, and all that sort of thing! My dear old Ham!"

"I'll tell you in a minute," said Hamilton, and took two draws.

Bones, who was no cigar smoker, watched the proceedings anxiously. Hamilton put the cigar down very gently on the corner of the desk.

"Do you mind if I finish this when nobody's looking?" he asked.

"Isn't it all right?" asked Bones. "Gracious heavens! I paid fifty shillings a hundred for those! Don't say I've been done."

"I don't see how you could be done at that price," said Hamilton, and brushed the cigar gently into the fireplace. "Yes, I have come to consult you, Bones," he went on. "Do you remember some eight months ago I wrote to you telling you that I had been offered shares in a motor-car company?"

Bones had a dim recollection that something of the sort had occurred, and nodded gravely.

"It seemed a pretty good offer to me," said Hamilton reflectively. "You remember I told you there was a managership attached to the holding of the shares?"

Bones shifted uneasily in his chair, sensing a reproach.

"My dear old fellow----" he began feebly.

"Wait a bit," said Hamilton. "I wrote to you and asked you your advice. You wrote back, telling me to have nothing whatever to do with the Plover Light Car Company."

"Did I?" said Bones. "Well, my impression was that I advised you to get into it as quickly as you possibly could. Have you my letter, dear old thing?"

"I haven't," said Hamilton.

"Ah," said Bones triumphantly, "there you are! You jolly old rascal, you are accusing me of putting you off----"

"Will you wait, you talkative devil?" said Hamilton. "I pointed out to you that the prospects were very alluring. The Company was floated with a small capital----"

Again Bones interrupted, and this time by rising and walking solemnly round the table to shake hands with him.

"Hamilton, dear old skipper," he pleaded. "I was a very busy man at that time. I admit I made a mistake, and possibly diddled you out of a fortune. But my intention was to write to you and tell you to get into it, and how I ever came to tell you _not_ to get into it--well, my poor old speculator, I haven't the slightest idea!"

"The Company----" began Hamilton.

"I know, I know," said Bones, shaking his head sadly and fixing his monocle--a proceeding rendered all the more difficult by the fact that his hand never quite overtook his face. "It was an error on my part, dear old thing. I know the Company well. Makes a huge profit! You can see the car all over the town. I think the jolly old Partridge----"

"Plover," said Hamilton.

"Plover, I mean. They've got another kind of car called the Partridge," explained Bones. "Why, it's one of the best in the market. I thought of buying one myself. And to think that I put you off that Company! Tut, tut! Anyway, dear old man," he said, brightening up, "most of the good fish is in the sea, and it only goes bad when it comes out of the sea. Have you ever noticed that, my dear old naturalist?"

"Wait a moment. Will you be quiet?" said the weary Hamilton. "I'm trying to tell you my experiences. I put the money--four thousand pounds--into this infernal Company.

"Eh?"

"I put the money into the Company, I tell you, against your advice. The Company is more or less a swindle."

Bones sat down slowly in his chair and assumed his most solemn and business-like face.

"Of course, it keeps within the law, but it's a swindle, none the less. They've got a wretched broken-down factory somewhere in the North, and the only Plover car that's ever been built was made by a Scottish contractor at a cost of about twice the amount which the Company people said that they would charge for it."

"What did I say?" said Bones quietly. "Poor old soul, I do not give advice without considering matters, especially to my dearest friend. A company like this is obviously a swindle. You can tell by the appearance of the cars----"

"There was only one car ever made," interrupted Hamilton.

"I should have said car," said the unperturbed Bones. "The very appearance of it shows you that the thing is a swindle from beginning to end. Oh, why did you go against my advice, dear old Ham? Why did you?"

"You humbug!" said the wrathful Hamilton. "You were just this minute apologising for giving me advice."

"That," said Bones cheerfully, "was before I'd heard your story. Yes, Ham, you've been swindled." He thought a moment. "Four thousand pounds!"

And his jaw dropped.

Bones had been dealing in large sums of late, and had forgotten just the significance of four thousand pounds to a young officer. He was too much of a little gentleman to put his thoughts into words, but it came upon him like a flash that the money which Hamilton had invested in the Plover Light Car Company was every penny he possessed in the world, a little legacy he had received just before Bones had left the Coast, plus all his savings for years.

"Ham," he said hollowly, "I am a jolly old rotter! Here I've been bluffing and swanking to you when I ought to
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