He took out his pocket-book, and with deliberation turned over the papers it contained. He selected one, read it carefully, and then held it out to Fenton.

"Our manufacturing corporation is practically on its legs now," he said, "and the stock will be issued at once. That entitles you to ten shares. They will be issued at sixty, and ought to go to par by fall. Indeed, in a year's time, we'll make them worth double the buying price, or I am mistaken."

Fenton looked at the paper as if he were reading it, but its letters swam before his eyes. He needed money sorely, and had this gift come in a shape more readily convertible into cash, he might have found it impossible to resist it. As it was, he allowed himself to be fiercely angry. He was furious, but he was consciously so. He raised his eyes, flashing and distended, and fixed them upon the mean, hateful face before him. He paused an instant to let his gaze have its effect.

"And I understand," he said, with a slow, careful enunciation, "that in consideration of the service I have done you, you give me your promise never to mention the fact that you saw a lady in my studio."

"Certainly," Irons returned.

Fenton's look made him uncomfortable. The artist was reasserting the old superiority over him which the visitor had found so irritating, and it was Iron's instinct to meet this by an air of bluster.

"Very well," Arthur said. "We may then consider what you are pleased to call our account as closed."

He walked forward deliberately and laid the paper he held on the heap of glowing coals in the grate. It curled and shrivelled, and before Irons could even compress his thick lips to whistle, nothing remained of the document but a quivering film.

"Well," Irons commented, "you are a damned fool; but then that's your own business."

The artist bowed gravely.