As he rode off his mind was full of this new determination. And yet, one short week ago he had thought himself uncommonly lucky to have pushed himself so far up the ladder as to be in receipt of a hundred and fifty pounds a year. For it must not be forgotten that he was no-man's son. His mother had refused to give his father's name. When she lay dying, and her people, seeking to trick her, asked what name the child should be called, she had smiled derisively at them. "Edward Cruttenden, of course," had been her reply, the latter being her own name, a common enough one in the Black Country.

Ted had thought all this out many times; yet it came back to him--with no rancour against his mother, but a good deal against his unknown father. On this fine June morning as he made his way across the high Cornish tableland, dipping down--with both brakes on--into some steep combe and thereinafter climbing out of it again, pushing his bicycle.

If he had only begun earlier to think about making money, he would have had a better chance with Aura. No doubt at his age Hirsch had been operating on the Exchange and promoting companies.

Promoting! Operating! These were words indeed!

But it must be uphill work--so was this last combe; for it was to be one of those hot June days, when the freshness of dawn is gone in half an hour, and the very grass has no trace of dew on it.

He sat down at the top of the hill and drew out his handkerchief in order to mop his face.

In doing so one of Mr. Hirsch's telegrams came out also and fluttered to the ground.

It was the one in cipher, and, as he glanced at it, he found that by a pure chance he knew it, or something very like it. His little friend and admirer in the stockbroker's office was an expert in ciphers, and had shown him several. This--one of the easiest--amongst the number.

He could not choose but read the first word, "Buy."

Buy! That was curious. He should have expected it to be "sell."