The Count bowed. "You were speaking of tissue paper, Princess," said he, stiffly. "I understood perfectly."

Once a week the Marchioness held her amazing salon. Strictly speaking, it was a co-operative affair. The so-called guests were in reality contributors to and supporters of an enterprise that had been going on for the matter of five years in the heart of unsuspecting New York. According to his or her means, each of these exiles paid the tithe or tax necessary, and became in fact a member of the inner circle.

From nearly every walk in life they came to this common, converging point, and sat them down with their equals, for the moment laying aside the mask to take up a long-discarded and perhaps despised reality. They became lords and ladies all over again, and not for a single instant was there the slightest deviation from dignity or form.

Moral integrity was the only requirement, and that, for obvious reasons, was sometimes overlooked,—as for example in the case of the Countess who eloped with the young artist and lived in complacent shame and happiness with him in a three-room flat in East Nineteenth street. The artist himself was barred from the salon, not because of his ignoble action, but for the sufficient reason that he was of ignoble birth. Outside the charmed conclave he was looked upon as a most engaging chap. And there was also the case of the appallingly amiable baron who had fired four shots at a Russian Grand-Duke and got away with his life in spite of the vaunted secret service. It was of no moment whatsoever that one of his bullets accidentally put an end to the life of a guardsman. That was merely proof of his earnestness and in no way reflected on his standing as a nobleman. Nor was it adequate cause for rejection that certain of these men and women were being sought by Imperial Governments because they were political fugitives, with prices on their heads.

The Marchioness, more prosperous than any of her associates, assumed the greater part of the burden attending this singular reversion to form. It was she who held the lease on the building, from cellar to roof, and it was she who paid that important item of expense: the rent. The Marchioness was no other than the celebrated Deborah, whose gowns issuing from the lower floors at prodigious prices, gave her a standing in New York that not even the plutocrats and parvenus could dispute. In private life she may have been a Marchioness, but to all New York she was known as the queen of dressmakers.

If you desired to consult Deborah in person you inquired for Mrs. Sparflight, or if you happened to be a new customer and ignorant, you were set straight by an attendant (with a slight uplifting of the eyebrows) when you asked for Madame "Deborah."

The ownership of the rare pieces of antique furniture, rugs, tapestries and paintings was vested in two members of the circle, one occupying a position in the centre of the ring, the other on the outer rim: Count Antonio Fogazario and Moody, the footman. For be it known that while Moody reverted once a week to a remote order of existence he was for the balance of the time an exceedingly prosperous, astute and highly respected dealer in antiques, with a shop in Madison Avenue and a clientele that considered it the grossest impertinence to dispute the prices he demanded. He always looked forward to these "drawing-rooms," so to speak. It was rather a joy to disregard the aspirates. He dropped enough hs on a single evening to make up for a whole week of deliberate speech.

As for Count Antonio, he was the purveyor of Italian antiques and primitive paintings, "authenticity guaranteed," doing business under the name of "Juneo & Co., Ltd. London, Paris, Rome, New York." He was known in the trade and at his bank as Mr. Juneo.

Occasionally the exigencies of commerce necessitated the substitution of an article from stock for one temporarily loaned to the fifth-floor drawing-room.

During the seven days in the week, Mr. Moody and Mr. Juneo observed a strained but common equality. Mr. Moody contemptuously referred to Mr. Juneo as a second-hand dealer, while Mr. Juneo, with commercial bitterness, informed his patrons that Pickett, Inc., needed a lot of watching. But on these Wednesday nights a vast abyss stretched between them. They were no longer rivals in business. Mr. Juneo, without the slightest sign of arrogance, put Mr. Moody in his place, and Mr. Moody, with perfect equanimity, quite properly stayed there.