"Now, Miss Blanchard, you know philanthropy is decidedly your vocation; you ought to have a subject always at hand. Couldn't you now—" he hesitated, and she looked at him inquiringly, "couldn't you now—take a fellow like me in hand, and try what you could do with him? I assure you—you wouldn't find me a bad subject!"

His tone made her begin to comprehend his meaning, but she was too much surprised to have words ready. He spoke again, more pleadingly, "Won't you try, Miss Blanchard? I do think you could make something of me, if you cared enough to try?"

His manner had forced Nora to understand him at last. She was divided between surprise at the unexpected proposal, and involuntary annoyance that it should have been made without the slightest reason to suppose that it would be accepted. However, she managed, she hardly knew how, to convey to him, in a few rather curt words, the fact that such a thing was utterly impossible, that she was sorry he should have thought of it. She regretted, afterwards, that she had been so abrupt in her refusal. But she had no need to trouble herself. Mr. Archer's self-satisfaction was not likely to be permanently disturbed by any such experience; and it is even possible that, on cooler reflection, he did not altogether regret that his rather impulsive offer had been declined; for it would have been, he felt, rather a strain for him to try, for any length of time, to "live up to" such a girl as Nora Blanchard!

In order to break the somewhat awkward silence that followed during the last part of their ride, Mr. Archer remarked that he was afraid "Old Farrell" would be in financial trouble, now.

"Why?" asked Nora, interested on her friend's account, and glad of a diversion from the former subject.

"Oh, I suspect he's been playing high, lately, in stocks. There's been a rapid rise for some days, in B. & B., and I believe he stood fair to make a big score. Every one thought a further rise was sure. But I believe they've come down with a run to-day, and I'm afraid he and a lot of the smaller fry that follow his lead, will get pretty well caught."

"Oh, I hope not—for Kitty's sake!"

"Oh, Miss Kitty's all right, you know! I imagine the old fellow was very glad to get Pomeroy secured for her; for I rather think he's been feeling a little shaky of late."

Nora was very silent during the short remainder of her ride. She was thinking, not only of Kitty, but of Waldberg and Roland Graeme.