"It's hopeless. Fifty! Oh, we should be out of pocket. It's really unreasonable." He was looking at Sloyd. "It's treating me as an enemy,—and I shall have no alternative but to accept the situation. Blinkhampton is not essential to me; and your hotel and so on won't flourish much if I leave my tumble-down cottages and pigsties just behind them. Will you put these papers together, Duplay?"

The Major obeyed leisurely. Sloyd was licking his lips and looking acutely unhappy.

"You're absolutely resolved, Harry?"

"Absolutely, Mr Iver."

"Well, I give it up. It's bad for me, and it's worse for you. In all my experience I never was so treated. You won't even discuss! If you'd said thirty-five, well, I'd have listened. If you'd even said forty, I'd have——"

"I say, done for forty!" said Harry quietly. "I'd a sort of idea all the time that that might be your limit. I expect the thing really wouldn't stand fifty, you know. Oh, that's just my notion."

Iver's face was a study. He was surprised, he was annoyed, but he was also somewhat amused. Harry's acting had been good. That obstinate, uncompromising immutable fifty!—Iver had really believed in it. And forty had been his limit—his extreme limit. He just saw his way to square his accounts satisfactorily if he were driven to pay that as the penalty of one of his

rare mistakes. He glanced at Sloyd; radiant joy and relief illumined that young man's face, as he gave his mustache an upward twirl. Duplay was smiling—yes, smiling. At last Iver smiled too. Harry was grave—not solemn—but merely not smiling because he did not perceive anything to smile at. No doubt he was gratified by the success of his tactics, and pleased that his formidable opponent had been deceived by them. But he thought nothing of what impressed Iver most. The tactics had been, no doubt, well conceived and carried out, but they were ordinary enough in their nature; Iver himself, and dozens of men he had met, could have executed them as well. What struck him was that Harry knew how far he could go, that he stopped on the verge, but not beyond the boundary where a deal was possible. Mere guesswork could not account for that, nor had he commanded the sources of information which would have made the conclusion a matter of ordinary intelligent calculation. No, he had intuitions; he must have an eye. Now eyes were rare; and when they were found they were to be used. Iver was much surprised at finding one in Harry. Yet it must be in Harry; Iver was certain that Sloyd had known nothing of the plan of campaign or of the decisive figure on which his associate had pitched.

"I'll give you forty," he said at last. "For the whole thing, lock, stock, and barrel—forty."

"It's a bargain," said Harry, and Iver, with a sigh (for forty was the extreme figure), pushed back his chair and rose to his feet.