“But guests must have attended a Drawing-room within the last two years to be eligible for invitations,” said Mr. Lorimer gruffly, “and I thought you said you were out of England.”

“Certainly, certainly,” answered Mrs. Dumaresq, “we have of course been away, but the dear Prince will arrange all that; and then, practically speaking, I have attended a Drawing-room within the last two years.”

No one asked what she meant.

Meantime Miss Semaphore was reading the following letter:—

“194, Handel Street, W.C.

“—th June, 189–.

“Madam,

“In reply to your communication, I beg to say that I shall be pleased to dispose of the Water referred to in my advertisement for the sum of £1000. This minimum price is absolutely fixed, and I cannot take less. Considering that the effect is guaranteed, and that I am the only person in the world who has this marvellous water to sell, I am sure you will admit the price is low. Were it not that I am in pressing and immediate need of money, I could easily get much more. If you are inclined to conclude the business at once, I shall be happy to see you here to-morrow at 4.30 p.m., and give you a proof before purchase. My bankers, Coutts & Co.; my solicitors, Lewis & Lewis, Dr. Llewellyn Smith, of 604, Harley Street; and His Grace the Duke of Fordham have kindly permitted me to name them as references, should you care to make enquiries about me.

“I am, Madam,

“Yours faithfully,