“I cannot,” he said, “expect you to answer more frankly unless I am equally frank with you. I am at this time engaged in a business transaction of some importance with Madame Ypsilante. The sum of money involved is very large. It is”—Goldsturmer’s tone became reverent—“£10,000.”

“Can she pay?” said Gorman, “not that it’s any affair of mine whether she can or not.”

“The lady herself cannot pay; but the King—she tells me that his Majesty has recently sold an estate situated in Megalia to a wealthy American. Now if that is true——”

“Perhaps in that case the King might pay,” said Gorman.

“I wonder,” said Goldsturmer, “if the sale has taken place?”

“Shouldn’t think it likely,” said Gorman.

Goldsturmer paused. For quite a minute he sat looking at Gorman. Then he said:

“In a matter of this kind I am prepared to pay for information which would be of use to me. I shall speak frankly. It would be worth my while to give one per cent. of the sum involved to any one who could tell me whether the sale which Madame mentioned to me has really been effected.”

“Ah,” said Gorman, “one per cent. on, did you say, £10,000?”

“It would amount to £100.”