"Come, come; do not try to throw dust in my eyes, Julian. Unless you include in the seventy-five thousand the cost of the house you are building in Calle Homo de la Mata."

"Why, of course."

At this Salabert burst into such a fit of laughing that he seemed about to choke; the cigar dropped out of his mouth, his face, usually so pale, turned so red as to be alarming, and the fit of coughing which ensued was so violent that it threatened him with congestion.

"My dear fellow, I thank you! That is really delicious," he gasped between coughing and laughing. "I never thought of that before. Henceforth I will include in my household expenses all the paper I buy and the houses I build. I shall have accounts like a king's to show."

The Duke's hearty and uproarious mirth annoyed and piqued Calderón out of all measure.

"I really do not see what you are laughing at. The money goes out of the cash-box under the head of expenditure. And, at any rate, Antonio, a fool knows more of his own affairs than a wise man knows of his neighbours'."

The Duke's visits to his friend had of late been somewhat frequent. He had been hovering round him a good deal to tempt him into the mining speculation. The moment was drawing near when the sale must come on, and meanwhile he was anxious to secure the co-operation of some of the more important shareholders. Don Julian was one, not merely by reason of the capital he represented, but by the position he held. He enjoyed the reputation in the financial world of being a very cautious, or indeed suspicious man; thus his name as participator in a speculation was a guarantee of its security, and this was what Salabert required. So he was anxious not to vex him seriously, and changed the subject. With the curious suppleness and cunning which lay beneath his abrupt roughness, he managed to put him in a good humour by praising his foresight in a certain case when he would not be caught, reflecting on the folly of some rival dealers, and implying Calderón's superior skill and penetration. When he had got him into the right frame of mind he spoke, for the third or fourth time, in vague terms, of the mining company. He mentioned it as an unattainable vision, just to whet his friend's appetite.

"If they only could buy up the mine one of these days, what a stroke of business that would be! He had never in his life met with a better. Unfortunately the Government were not disposed to sell. However—damn it all! By a little good management and steady perseverance, in time perhaps—meanwhile what was wanted were a few men who could afford to invest a good round sum. If they were not to be found in Spain they must be sought elsewhere."

At the mere notion of a speculation Calderón shrank as a snail does when it is touched. And this was so big a thing, to judge from the vague hints the Duke threw out, that he completely disappeared into his shell. Then, when Salabert spoke rather more plainly, he turned gloomy and dull, uneasy and suspicious, as if he expected to be bled there and then of an exorbitant sum.

When Requena had finished a long and rather incoherent speech, which was almost a monologue, he abruptly rose: