"Let's see, they're going to the public as a limited company, aren't they?" Dorrington asked casually.

Stedman nodded, with a little grimace.

"You don't think it's a good thing, perhaps," Dorrington said, noticing the grimace. "Is that so?"

"Well," Stedman answered, "of course I can't say. I don't know much about the firm—nobody does, as far as I can tell—but they seem to have got a business together in almost no time; that is, if the business is as genuine as it looks at first sight. But they want a rare lot of capital, and then the prospectus—well, I've seen more satisfactory ones, you know. I don't say it isn't all right, of course, but still I shan't go out of my way to recommend any friends of mine to plunge on it."

"You won't?"

"No, I won't. Though no doubt they'll get their capital, or most of it. Almost any cycle or tyre company can get subscribed just now. And this 'Avalanche' affair is both, and it is so well advertised, you know. Lant has been winning on their mounts just lately, and they've been booming it for all they're worth. By Jove, if they could only screw him up to win the fifty miles on Saturday, and beat our man Gillett, that would give them a push! Just at the correct moment too. Gillett's never been beaten yet at the distance, you know. But Lant can't do it—though, as I have said, he'll make some fast riding—it'll be a race, I tell you!"

"I should like to see it."

"Why not come? See about it, will you? And perhaps you'd like to run down to the track after dinner this evening and see our man training—awfully interesting, I can tell you, with all the pacing machinery and that. Will you come?"

Dorrington expressed himself delighted, and suggested that Stedman should dine with him before going to the track. Stedman, for his part, charmed with his new acquaintance—as everybody was at a first meeting with Dorrington—assented gladly.

At that moment the door of Stedman's room was pushed open and a well-dressed, middle-aged man, with a shaven, flabby face, appeared. "I beg pardon," he said, "I thought you were alone. I've just ripped my finger against the handle of my brougham door as I came in—the screw sticks out. Have you a piece of sticking plaster?" He extended a bleeding finger as he spoke. Stedman looked doubtfully at his desk.