As he went down stairs something white on the carpet attracted his attention. He stooped and picked it up. It was a letter. It was in Bagley's handwriting and had evidently been dropped by the man to whom the secretary had given it to post. But what interested Jefferson more than anything else was that it was addressed to Miss Kate Roberts. Under ordinary circumstances, a king's ransom would not have tempted the young man to read a letter addressed to another, but he was convinced that his father's secretary was an adventurer and if he were carrying on an intrigue in this manner it could have only one meaning. It was his duty to unveil a rascal who was using the Ryder roof and name to further his own ends and victimize a girl who, although sophisticated enough to know better, was too silly to realize the risk she ran at the hands of an unscrupulous man. Hesitating no longer, Jefferson tore open the envelope and read:

My dearest wife that is to be:

I have arranged everything. Next Wednesday—just a week from to-day—we will go to the house of a discreet friend of mine where a minister will marry us; then we will go to City Hall and get through the legal part of it. Afterwards, we can catch the four o'clock train for Buffalo. Meet me in the ladies' room at the Holland House Wednesday morning at 11 a.m. I will come there with a closed cab. Your devoted

FITZ.

"Phew!" Jefferson whistled. A close shave this for Senator Roberts, he thought. His first impulse was to go upstairs again to his mother and put the matter in her hands. She would immediately inform his father, who would make short work of Mr. Bagley. But, thought Jefferson, why should he spoil a good thing? He could afford to wait a day or two. There was no hurry. He could allow Bagley to think all was going swimmingly and then uncover the plot at the eleventh hour. He would even let this letter go to Kate, there was no difficulty in procuring another envelope and imitating the handwriting—and when Bagley was just preparing to go to the rendezvous he would spring the trap. Such a cad deserved no mercy. The scandal would be a knock-out blow, his father would discharge him on the spot and that would be the last they would see of the aristocratic English secretary. Jefferson put the letter in his pocket and left the house rejoicing.

While the foregoing incidents were happening John Burkett Ryder was secluded in his library. The great man had come home earlier than usual, for he had two important callers to see by appointment that afternoon. One was Sergeant Ellison, who had to report on his mission to Massapequa; the other was Miss Shirley Green, the author of "The American Octopus," who had at last deigned to honour him with a visit. Pending the arrival of these visitors the financier was busy with his secretary trying to get rid as rapidly as possible of what business and correspondence there was on hand.

The plutocrat was sitting at his desk poring over a mass of papers. Between his teeth was the inevitable long black cigar and when he raised his eyes to the light a close observer might have remarked that they were sea-green, a colour they assumed when the man of millions was absorbed in scheming new business deals. Every now and then he stopped reading the papers to make quick calculations on scraps of paper. Then if the result pleased him, a smile overspread his saturnine features. He rose from his chair and nervously paced the floor as he always did when thinking deeply.

"Five millions," he muttered, "not a cent more. If they won't sell we'll crush them—"

Mr. Bagley entered. Mr. Ryder looked up quickly.

"Well, Bagley?" he said interrogatively. "Has Sergeant Ellison come?"