"And the price?"

"Well, I think about two thousand a year."

"Moderate," said Owain shortly and not quailing.

"I think so myself, seeing that I shall have to pay Madame Alpenny at least two hundred a year out of it."

"And keep one thousand eight hundred a year to yourself?"

"That is my intention," rejoined the Nut coolly. "Spruce, you are--what you are, as it is impossible to find a name low enough to suit you. And how am I to pay this two thousand a year?"

"Out of the ten thousand per annum your uncle left you."

"Humph! You seem to be well informed."

"Madame Alpenny informed me, so naturally I am in possession of many facts which you would prefer to keep secret. Come, Hench, it is no use our beating about the bush, as we understand one another, so----"

"Pardon me, we don't understand one another. What am I to get for this two thousand a year blackmail?"