"It's what they call an investment," he said, when Kathleen said something about extravagance. "We shall all need special nourishing to keep our strength up, especially the bold conjurer."

They ate and drank. It was a very beautiful meal, and the far-off music of the steam-organ added the last touch of festivity to the scene. The boys were never tired of seeing Mabel eat, or rather of seeing the strange, magic-looking vanishment of food which was all that showed of Mabel's eating. They were entranced by the spectacle, and pressed on her more than her just share of the feast, just for the pleasure of seeing it disappear.

"My aunt!" said Gerald, again and again; "that ought to knock 'em!"

It did.

Jimmy and Kathleen had the start of the others, and when they got to the fair they mingled with the crowd, and were as unsuspected as possible.

They stood near a large lady who was watching the Coconut shies, and presently saw a strange figure with its hands in its pockets strolling across the trampled yellowy grass among the bits of drifting paper and the sticks and straws that always litter the ground of an English fair. It was Gerald, but at first they hardly knew him. He had taken off his tie, and round his head, arranged like a turban, was the crimson school-scarf that had supported his white flannels. The tie, one supposed, had taken on the duties of the handkerchief. And his face and hands were a bright black, like very nicely polished stoves!

Everyone turned to look at him.

"He's just like a conjurer!" whispered Jimmy. "I don't suppose it'll ever come off, do you?"

They followed him at a distance, and when he went close to the door of a small tent, against whose door-post a long-faced melancholy woman was lounging, they stopped and tried to look as though they belonged to a farmer who strove to send up a number by banging with a big mallet on a wooden block.

Gerald went up to the woman.