"Well, gentlemen," he said gaily, "what is the news?"

"Good news, bad news, and such news as you've never heard of," quoted Keith lazily.

"Thank you, my local Gratiano," replied Felix, quickly recognising the quotation as from the "Merchant of Venice." "By the way, there's a letter for you outside."

"Oh, thanks," said Stewart rising, "I'll go and get it," and he sauntered out lazily.

"Humph!" ejaculated Felix, looking after him, "our friend is the author of 'Faust Upset,' I understand?"

"Yes," replied Toltby; "deuced good piece."

"That means you've got an excellent part," struck in Slingsby mercilessly.

"Quite right," retorted Toltby complacently; "all the parts are good--especially Caprice's."

"Oh, that goes without saying," said Pelk, with a grin; "our friend is rather sweet there."

"So is she," said Felix significantly; "case of reciprocity, dear boy!"