"Were it not for the fact that your name has been publicly associated with hers, I would prosecute you for the scoundrel and black-leg that you are."

"But for the sake of your daughter's name you intend to deal leniently with me," Walcott sneered. "Supposing we come at once to the point of dissolving our partnership; it cannot be done any too quickly for me. May I inquire on what terms you propose to settle?"

Mr. Underwood went briefly over the terms which he had outlined on a sheet of paper before him on his desk; Walcott, seated eight or ten feet distant, listened, his dark face paling with anger.

"Pardon me," he said, at the conclusion; "I think I missed a few details; suppose we go over that again together."

He rose and advanced towards Mr. Underwood's chair as though to look over his shoulder, at the same time thrusting his right hand within the inner pocket of his coat. Before he had covered half the space, however, a voice rang through the room with startling clearness,—

"Not a step farther, or you are a dead man!"

Both men turned, to see Kate Underwood standing in the doorway, holding a revolver levelled at Walcott with an aim which the latter's practised eye told him to be both sure and deadly. Astonishment and rage passed in quick succession over his countenance; he looked for an instant as though contemplating some desperate move.

"Stir one hair's breadth, and you are a dead man!" she repeated. He remained motionless, and the hand just withdrawn from his coat disclosed to view a tiny, glittering stiletto.

Kate's only anxious thought was for her father, who,

too bewildered to move or speak, was for the time as motionless as Walcott himself; she feared lest the suddenness of the shock might prove too much for him. To her relief, she heard Mr. Britton entering. He took in the situation at a glance and sprang at once to her side.