“So far they seem very much like anybody's else,” she said. “The fight might have been amusing, but no women were allowed. The rest was very wonderful in its way, but that is all. I am still hoping for what we are to see downstairs.”

They heard Sir Timothy's voice a few yards away, and turned to look at him. He had just come from below, and had paused opposite a man who had been standing a little apart from the others, one of the few who was wearing an overcoat, as though he felt the cold. In the background were the two servants who had guarded the gangway.

“Mr. Manuel Loito,” Sir Timothy said—“or shall I say Mr. Shopland?—my invited guests are welcome. I have only one method of dealing with uninvited ones.”

The two men suddenly stepped forward. Shopland made no protest, attempted no struggle. They lifted him off his feet as though he were a baby, and a moment later there was a splash in the water. They threw a life-belt after him.

“Always humane, you see,” Sir Timothy remarked, as he leaned over the side. “Ah! I see that even in his overcoat our friend is swimmer enough to reach the bank. You find our methods harsh, Ledsam?” he asked, turning a challenging gaze towards the latter.

Francis, who had been watching Shopland come to the surface, shrugged his shoulders. He delayed answering for a moment while he watched the detective, disdaining the life-belt, swim to the opposite shore.

“I suppose that under the circumstances,” Francis said, “he was prepared to take his risk.”

“You should know best about that,” Sir Timothy rejoined. “I wonder whether you would mind looking after Lady Cynthia? I shall be busy for a few moments.”

Francis stepped across the deck towards where Lady Cynthia had been sitting by her host's side. They had passed into the mouth of a tree-hung strip of the river. The engine was suddenly shut off. A gong was sounded. There was a murmur, almost a sob of relief, as the little sprinkling of men and women rose hastily to their feet and made their way towards the companion-way. Downstairs, in the saloon, with its white satinwood panels and rows of swing chairs, heavy curtains were drawn across the portholes, all outside light was shut out from the place. At the further end, raised slightly from the floor, was a sanded circle. Sir Timothy made his way to one of the pillars by its side and turned around to face the little company of his guests. His voice, though it seemed scarcely raised above a whisper, was extraordinarily clear and distinct. Even Francis, who, with Lady Cynthia, had found seats only just inside the door, could hear every word he said.

“My friends,” he began, “you have often before been my guests at such small fights as we have been able to arrange in as unorthodox a manner as possible between professional boxers. There has been some novelty about them, but on the last occasion I think it was generally observed that they had become a little too professional, a little ultra-scientific. There was something which they lacked. With that something I am hoping to provide you to-night. Thank you, Sir Edgar,” he murmured, leaning down towards his neighbour.