Undine's pulses beat faster as she listened. Was it not what Moffatt had always said of himself—that all he needed was time and elbow-room? How odd that Ralph, who seemed so dreamy and unobservant, should instantly have reached the same conclusion! But what she wanted to know was the practical result of their meeting.

"What did you and he talk about when you were smoking?"

"Oh, he got on the Driscoll fight again—gave us some extraordinary details. The man's a thundering brute, but he's full of observation and humour. Then, after Bowen joined you, he told me about a new deal he's gone into—rather a promising scheme, but on the same Titanic scale. It's just possible, by the way, that we may be able to do something for him: part of the property he's after is held in our office." He paused, knowing Undine's indifference to business matters; but the face she turned to him was alive with interest.

"You mean you might sell the property to him?"

"Well, if the thing comes off. There would be a big commission if we did." He glanced down on her half ironically. "You'd like that, wouldn't you?"

She answered with a shade of reproach: "Why do you say that? I haven't complained."

"Oh, no; but I know I've been a disappointment as a money-maker."

She leaned back in her chair, closing her eyes as if in utter weariness and indifference, and in a moment she felt him bending over her. "What's the matter? Don't you feel well?"

"I'm a little tired. It's nothing." She pulled her hand away and burst into tears.

Ralph knelt down by her chair and put his arm about her. It was the first time he had touched her since the night of the boy's birthday, and the sense of her softness woke a momentary warmth in his veins.