The agent brightened up.

"Well, that's a new industry, anyway. Crockery, eh?"

"It's a big German firm in Cannon Street," Norgate explained. "They are going to make the stuff here. That ought to be better for our people."

The young man nodded.

"I expect they're afraid of tariff reform," he suggested. "Those Germans see a long way ahead sometimes."

"I am beginning to believe that they do," Norgate assented, as he stepped into the taxi.

CHAPTER XXXIII

Norgate walked into the club rather late that afternoon. Selingman and Prince Lenemaur were talking together in the little drawing-room. They called him in, and a few minutes later the Prince took his leave.

"Well, that's all arranged," Norgate reported. "I have bought the three sites. There was only one thing the fellow down at Golder's Hill was anxious about."

"And that?"