"I don't want you to lend me the money, you know."

Fred had thought that he did, and thought so still. But, of course, a man in his position would want the decencies observed. "I hadn't thought of that," he said. "But as a matter of fact it would suit me very well to do it. I've got rather more than that lying idle—gratuities, and so on—and I couldn't get ten per cent on it without taking some trouble, and even then it would be more risky than this. Really, it would be the easiest way, sir, and I should be glad of the opportunity."

"Oh, you could get more than ten per cent, lending money without security. I shouldn't offer security, you know. To do that, I should have to go to my lawyers."

"Your word is security enough for me, sir. I couldn't have a better wherever I went, and I've been meaning to go somewhere for the last month or more. I'm a business man. I don't like having money doing nothing. This would be a business deal for me, and at ten per cent a good one. I say nothing about obliging you. It would give me great pleasure to do it, but I should think it rather cheek to offer it on that account."

Under all the circumstances, known to Fred but unknown to Colonel Eldridge, it was considerable cheek as it was. One of the circumstances was that Fred hadn't got four hundred pounds lying idle, or even forty. He wasn't that kind of man.

"It's kind of you to say that," said Colonel Eldridge. "Let me think it over for a moment."

He sat upright in his chair, which was not a deep one like Fred's, and looked into the empty grate, with no expression on his face that could be interpreted. Fred's opinion of him lowered itself somewhat. What was the good of keeping up this farce? Of course he would accept. He was lucky to have such a chance offered him. And Fred was lucky to be able to offer it, to Pamela's father.

Colonel Eldridge turned his quiet direct eyes upon him. "It's a very kind offer on your part," he said. "For which I'm grateful. But I don't see my way to accepting it."

Fred did not understand in the least, but knew somehow that it would be waste of time to press his offer.