"Then it was probably a hoax," said Noel.

"Oh, no! That's not possible. It—it—you see, it's valuable." Olga's voice was almost piteous.

"I say, don't mind!" he said. "It's just some other fellow's impudence. I'll kick him for you if I get the chance. You're quite sure about my initials?"

"Quite," she said.

"And what else was there?"

She frowned, "Only a Latin motto."

"Tell me!" he said persuasively.

She continued to frown. "It was 'Dum spiro spero.'"

"Great Scott!" he said. "Do you think I should have been as presumptuous as that? I should have just said, 'With Noel's love,' and you wouldn't have had the heart to fling it back again."

She smiled, not very willingly. "I can't understand it at all."