"Now, then," said Mr. Barras, having reached this point, "I shall read the will, as you no doubt understand exactly how the monies stand--that is, how they were left by your late mother."

"But we don't understand about the accumulations," protested Clarice. "I am coming to that," said the lawyer, significantly. "Allow me to conduct this conversation in my own way, so as to make everything plain. The will--listen--the will of Mr. Henry Horran--"

"But he had nothing to leave," burst out Ferdy; "you said so."

"I did not exactly say so," said Barras, deliberately, "but it is a fact. Since the five hundred a year ceased at Mr. Horran's death, seeing that he could not longer continue his duties as guardian, he certainly had nothing to leave. But the will of the late Mrs. Baird gave him the power to appoint a new guardian."

"What a shame!" cried Ferdy, flushing; "we--Clarry and I--are old enough to handle our own money."

"Possibly, but the will must stand," said Barras, drily, "and, after all, as you will see, the new guardian is the best that could be appointed. From what I have seen of this young lady"--he bowed to Clarice--"and from the frequency with which I have come into contact with her since Mr. Horran's illness, I am quite sure that a better appointment could not have been made."

Ferdy started. "What has Clarry to do with it?" he demanded, angrily.

Barras took no notice, but read the will of Horran. It was short, and to the point, containing a few legacies to servants, a disposal of his jewellery to friends, and the appointment of Clarice Baird to the post of guardian, which Horran's death would leave vacant. Ferdy could scarcely contain his wrath, when Barras ceased. "Do you mean to say that Clarry has been appointed over my head?" he asked, white with rage; "over my head, when I am the man."

"I do say so," said Barras, quietly, "and in my opinion, Seeing what I know of Miss Baird, it is an excellent suggestion."

"It's a shame. I should have been made guardian."