“Not yet,” said I easily. “Dry your tears and put away your black clothes. Your friend, Tom Langdon, was a little premature.”

“I'm afraid I've given you a false impression,” Sam continued, with an overeagerness to convince me that did not attract my attention at the time. “Tom merely said, 'I hear Blacklock is loaded up with Textile shorts,'—that was all. A careless remark. I really didn't think of it again until I saw you looking so black and glum.”

That seemed natural enough, so I changed the subject. As we entered his house, I said:

“I'll not go up to the drawing-room. Make my excuses to your mother, will you? I'll turn into the little smoking-room here. Tell your sister—and say I'm going to stop only a moment.”

Sam had just left me when the butler came.

“Mr. Ball—I think that was the name, sir—wishes to speak to you on the telephone.”

I had given Ellerslys' as one of the places at which I might be found, should it be necessary to consult me. I followed the butler to the telephone closet under the main stairway. As soon as Ball made sure it was I, he began:

“I'll use the code words. I've just seen Fearless, as you told me to.”

Fearless—that was Mitchell, my spy in the employ of Tavistock, who was my principal rival in the business of confidential brokerage for the high financiers. “Yes,” said I. “What does he say?”

“There has been a great deal of heavy buying for a month past.”