The younger of the Americans spoke, in more kindly fashion:

"You have a proposition to make to Lloyds?"

"Exactly," said Lord Harrowby, and sank with a sigh of relief into a chair, as though that concluded his portion of the entertainment.

"Let's hear it," boomed the relentless Thacker.

Lord Harrowby writhed in his chair.

"I am sure you will pardon me," he said, "if I preface my—er—proposition with the statement that it is utterly—fantastic. And if I add also that it should be known to the fewest possible number."

Mr. Thacker waved his hand across the gleaming surfaces of two desks.

"This is my assistant manager, Mr. Richard Minot," he announced. "Mr. Minot, you must know, is in on all the secrets of the firm. Now, let's have it."

"I am right, am I not," his lordship continued, "in the assumption that Lloyds frequently takes rather unusual risks?"

"Lloyds," answered Mr. Thacker, "is chiefly concerned with the fortunes of those who go down to—and sometimes down into—the sea in ships. However, there are a number of non-marine underwriters connected with Lloyds, and these men have been known to risk their money on pretty giddy chances. It's all done in the name of Lloyds, though the firm is not financially responsible."