And now Harry understood the trepidation with which Miss Lowndes had consulted him as to whether they should wait supper for her father, and her relief on hearing his opinion on the point: there had been no supper in the house. Lowndes, however, had brought home material for an excellent meal, of which caviare, a raised pie, French rolls, camembert, peaches and a pine-apple, and a bottle of Heidsieck, were conspicuous elements. Black coffee followed, rather clumsily served by the man-servant, who waited in a dress suit some sizes too small for him. And after supper Harry Ringrose at last heard something definite concerning the Company from which he was still assured that he might count on a certain income of three hundred pounds a year.

"Last night my tongue was tied," said Lowndes; "but to-night the matter is as good as settled; and I may now speak without indiscretion. I must tell you first of all that the Company is entirely my own idea—and a better one I never had in my life. It is founded on the elementary principle that the average man gives more freely to a good cause than to a bad one, but most freely to the good cause out of which he's likely to get some change. He enjoys doing good, but he enjoys it most when it pays him best, and there you have the root of the whole matter. Only hit upon the scheme which is both lucrative and meritorious, which gives the philanthropist the consolation of reward, and the money-grubber the kudos of philanthropy, and your fortune's made. You may spread the Gospel or the Empire, and do yourself well out of either; but, for my part, I wanted something nearer home—where charity begins, Ringrose—and it took me years to hit upon the right thing. Ireland has been my snare: to ameliorate the Irish peasant and the English shareholder at the same swoop: it can't be done. I wasted whole months over the Irish Peasants' Potato Produce Company, but it wouldn't pan out. Nobody will put money into Ireland, and potatoes are cheap already as the dirt they grow in. But I was working in the right direction, and the crofter grievances came as a godsend to me about a year ago. The very thing! I won't trouble you with the intermediate stages; the Highland Crofters' Salmon and Trout Supply Association, Limited, will be registered this week; and the greatest of Scottish landlords, my good old Earl of Banff, is to be Chairman of Directors and rope in all the rest."

Harry asked how it was to be made to pay. Lowndes had every detail at his finger-ends, and sketched out an amazing programme with bewildering volubility. The price of salmon would be reduced a hundred per cent. The London shops would take none but the Company's fish. Fresh trout would sell like herrings in the street, and the Company would buy up the fishmongers' shops all over the country, just as brewers bought up public-houses. As soon as possible they would have their own line to the North, and expresses full of nothing but fish would do the distance without stopping in time hitherto unprecedented in railway annals.

"But," said Harry, "there are plenty of fish in the sea, and in other places besides the Highlands."

"So there are, but in ten years' time we shall own every river in the kingdom, and every cod-bank round the coast."

"And where will the crofters come in then?"

Lowndes roared with laughter.

"They won't come in at all. It will be forgotten that they ever were in: the original Company will probably be incorporated with the British Fresh Water and Deep Sea Fishing Company, Limited. Capital ten millions. General Manager, Sir Gordon Lowndes, Bart., Park Lane, W. Secretary, H. Ringrose, Esq., at the Company's Offices, Trafalgar Square. We shall buy up the Grand Hotel and have them there. As for the crofters, they'll be our Empire and our Gospel; we'll play them for all they're worth in the first year or two, and then we'll let them slide."

Miss Lowndes had been present all this time, and Harry had stolen more than one anxious glance in her direction. She never put in a word, nor could she be said to wear her thoughts upon her face, as she bent it over some needlework in the corner where she sat. Yet it was the daughter's silent presence which kept Harry himself proof for once against the always contagious enthusiasm of the father. He could not help coupling it with other silences of the early evening, and the Highland Crofters' Salmon and Trout Supply Association, Limited, left him as cold as he felt certain it left Miss Lowndes. It was now after eleven, however, and he rose to bid her good-night, while Lowndes went to get his hat in order to escort him to the station.

"And I shall never forget our walk," added Harry, and unconsciously wrung her hand as though it were that of some new-found friend of his own sex.