"Are you—are you using the company's money!" she asked at length pointedly.

He had not expected the question, and his evident intention was to deny it. But he met her eye. He tried to escape it, but could not. What was there about this little woman that had compelled his attention and interest from the moment he had been introduced?

Quickly he tried to reason it out in his heart. It was not that she was physically attractive to him. Mrs. Noble was that. It was not that fascination which Bella aroused, the adventuress, the siren, the gorgon. In Constance there was something different. She was a woman of the world, a man's woman. Then, too, she was so brutally frank in inviting his confidences.

Over and over he turned the answer he had intended to make. He caught her eye again and knew that it was of no use.

"Yes," he muttered, as a cloud spread over his face at not being able, as usual, to let the gay life put the truth out of his mind. "Yes, I have been using—their funds."

As if a switch had been turned, the light broke on Constance. She saw herself face to face with one of the dark shadows in the great city of high lights.

"How?" she asked simply, leaning forward over the table.

There was no resisting her. Quickly he told her all.

"At first with what little money of my own I had I played. Then I began to sign I O U's and notes. Now I have been taking blank stock certificates, some of those held as treasury stock in the company's safe. They have never been issued, so that by writing in the signatures of myself and the other officers necessary, I have been able to use it to pay off my losses in gambling."

As he unfolded to her the plan which he had adopted, Constance listened in amazement.