In fact, he was the sole topic of conversation in all the bedrooms of Peter's family party before the lights were turned out. Mrs. Guthrie said, as she sat in front of the dressing-table combing her hair: "How lucky it is, dear, that Peter has found such a wonderful friend here! He is so English and so refined—in every sense of the word a gentleman." The Doctor thoroughly agreed with her and made a mental note to invite Kenyon to his house in New York in the autumn.

Belle Guthrie took her brushes into Betty's room, which was next to her own, and looking extremely attractive in a pale pink kimono, with her dark hair all about her shoulders and her naked feet in pink, heel-less slippers, gave a ripple of excited laughter and confided to her friend that she was going to have a more bully time even than she had hoped. "I love St. John's College," she said, "and these wonderful old streets and all the church bells which strike so frequently—but I'm perfectly crazy about Nicholas Kenyon. He is so,—so different—so witty—says such perfectly wonderful things—and oh, my dear! did you see the way he looked at me when he said 'good-night'?"

Betty shook her head—her little golden head—her rather wise little head. "I didn't look," she said. "The light was shining on Peter's face, and that was good enough for me."

What Graham thought of Kenyon came out in Peter's rooms, to which he had gone back with his brother when the family were left at the hotel after their return from a jaunt on the river in the moonlight after dinner,—the quiet, soothing, narrow stream on which they had floated in punts all among cushions and listened with keen appreciation to the throbbing song of the nightingale and the deep voice of an undergraduate singing "Annie Laurie" in the back water to the thrumming accompaniment of a mandolin.

Kenyon himself had gone round to the rooms of some friends of his to play bridge, so the two brothers were able to talk undisturbed. The night was deliciously warm and Peter's old windows, with their numerous leaded panes, were wide open. It was eleven o'clock and the life of the town had almost ceased, although from time to time little parties of undergraduates passed along St. Giles and their high-spirited laughter drifted up.

After having put cigarettes in front of his brother, Peter flung himself full stretch upon his sofa, with a pipe between his teeth. "Now for your news, old man!" he said. "I'm glad you like Nick. He certainly is one of the best. What seems perfectly amazing to me is that while I'm still a sort of schoolboy, rowing and reading, you're a full-blown man earning your living. I'd give something to see you buzzing about Wall Street with your head full of stocks and shares and the rise and fall of prices. How do you do it?"

Graham ran his hand rather nervously over his mouth. "It's great!" he said excitedly. "That's what I call life. Gee! You've no idea how fascinating it is to gamble on the tape and get a thrill every time you hear it tick. It's like living among earthquakes. I love it!"

"Gamble!" Peter echoed the word with a touch of fright. "Good Lord; but you don't gamble surely? I thought you were a broker and looked after other people's concerns!"

Graham shot out a short laugh. "Other people's concerns? Why, yes; but we're not in Wall Street for other people. I've had the luck of the devil lately though,—everything I've touched has gone wrong. However, don't let's talk about that. I'm here for a holiday and a rest, and I need 'em. I believe I was on the verge of a nervous breakdown before I came away. When I get back I shall have to straighten things out. At the present moment I'm out about twenty thousand dollars."

It was his young brother who said these things—the boy who two years ago was only just out of Harvard. Peter sat up—in two senses. "You? Twenty thousand dollars! Have you told father?"