"Yes; but, then, that didn't make up for the Throgmorton ball. You ask what else there was to lose; I should think that was enough. Why, Janet Graham says she never had such a lovely time in her life."

"Is Miss Graham engaged to Fred Gore?" Rangely asked.

Ethel's gesture of dissent showed how little she would have approved of such a consummation.

"No, indeed," she returned. "Fred Gore only wants Janet's money, anyway; and she can't abide him, any more than I can."

"Then, you have the correct horror of a marriage for money."

"I think a girl is a fool to let a man marry her for her money. She'd much better give him her fortune and keep herself back. Then she'd at least save something. I don't approve of people's marrying for money anyway; although, of course," she added, with a twinkle in her eye, "I think it is wicked to marry without it."

There shot through Rangely's mind the reflection that Thayer Kent had not an over-abundance of this world's goods; and to this followed the less pleasant thought that he was himself in the same predicament.

"But Jack Gerrish hasn't anything," he said, aloud.

"But Janet has enough, so she can marry anybody she wants to," was the reply; "and Jack Gerrish is too perfectly lovely for anything."

The visitor laughed, but he was evidently not at his ease. He was always uncomfortably conscious that Ethel had not the slightest possible scruple against laughing at him, and he was not a little afraid of her well-known propensity to tease. Ethel regarded him with secret amusement. A woman is seldom displeased at seeing a man disconcerted by her presence, even when she pities him and would fain put him at his ease. It is a tribute to her powers too genuine to be disputed, and while she may labor to overcome the man's feeling, her vanity cannot but be gratified that he has it.