"Right, 'ere's my bob."

The other porters gave their shillings; Watkins slid them back into his pocket, and called to Joey to book the bet.

"And, now, what is yours, Mr. Latch?"

William stated the various items. He had had a bet of ten shillings to one on one race and had lost; he had had half-a-crown on another and had lost; in a word, three-and-sixpence had to be subtracted from his winnings on Silver Braid. These amounted to more than five pounds. William's face flushed with pleasure, and the world seemed to be his when he slipped four sovereigns and a handful of silver into his waistcoat pocket. Should he put a sovereign of his winnings on Silver Braid for the Chesterfield? Half-a-sovereign was enough! …The danger of risking a sovereign—a whole sovereign—frightened him.

"Now, Mr. Latch," said old Watkins, "if you want to back anything, make up your mind; there are a good many besides yourself who have business with me."

William hesitated, and then said he'd take ten half-sovereigns to one against Silver Braid.

"Ten half-sovereigns to one?" said old Watkins.

William murmured "Yes," and Joey booked the bet.

Mr. Leopold's business demanded more consideration. The fat betting man and the scarecrow little butler walked aside and talked, both apparently indifferent to the impatience of a number of small customers; sometimes Joey called in his shrill cracked voice if he might lay ten half-crowns to one, or five shillings to one, as the case might be. Watkins would then raise his eyes from Mr. Leopold's face and nod or shake his head, or perhaps would sign with his fingers what odds he was prepared to lay. With no one else would Watkins talk so lengthily, showing so much deference. Mr. Leopold had the knack of investing all he did with an air of mystery, and the deepest interest was evinced in this conversation. At last, as if dismissing matters of first importance, the two men approached William, and he heard Watkins pressing Mr. Leopold to lay off some of that fifty pounds.

"I'll take twelve to one—twenty-four pounds to two. Shall I book it?"