"Yes, sir."

"Madam"—hitherto it had always been "dear Madam," or "dear Mrs. Codleyn"—"Madam. Of course I need hardly say that if, after our interview this morning and your extraordinary remarks, you wish to place your interests in other hands, I shall be most happy to hand over all the papers on payment of my costs. Yours truly ... To Mrs. Codleyn."

Denry reflected. "Ass! Why does n't he let her cool down?" Also: "He's got 'hands' and 'hand' in the same sentence. Very ugly. Shows what a temper he's in!" Shorthand clerks are always like that—hypercritical. Also: "Well, I jolly well hope she does chuck him! Then I sha n't have those rents to collect." Every Monday, and often on Tuesday too, Denry collected the rents of Mrs. Codleyn's cottages: an odious task for Denry. Mr. Duncalf, though not affected by its odiousness, deducted 7-½ Per cent. for the job from the rents.

"That 'll do," said Mr. Duncalf.

But as Denry was leaving the room, Mr. Duncalf called with formidable brusqueness:

"Machin."

"Yes, sir?"

In a flash Denry knew what was coming. He felt, sickly, that a crisis had supervened with the suddenness of a tidal wave. And for one little second it seemed to him that to have danced with a Countess while the flower of Bursley's chivalry watched in envious wonder, was not after all the key to the door of success throughout life.

Undoubtedly he had practised fraud in sending to himself an invitation to the ball! Undoubtedly he had practised fraud in sending invitations to his tailor and his dancing-mistress! On the day after the ball, beneath his great glory, he had trembled to meet Mr. Duncalf's eye lest Mr. Duncalf should ask him: "Machin, what were you doing at the Town Hall last night, behaving as if you were the Shah of Persia, the Prince of Wales, and Mr. George Alexander?" But Mr. Duncalf had said nothing, and Mr. Duncalf's eye had said nothing, and Denry thought that the danger was past.

Now it surged up.