“Alas, it is true!” said Eustacie sadly. “He is just nothing.”

Sir Tristram’s eyebrows went up a shade. Miss Thane pointed a triumphant finger at him, and said: “Sir Tristram knows better! A wolf, sir?”

He shook his head. “No, I don’t think I should put it quite like that, Miss Thane. He is pleasant enough—a little too pleasant. He purrs like a cat.”

“He does,” agreed Ludovic. “But do you know any ill of him? I don’t.”

“One thing,” replied Shield. “I know that Sylvester mistrusted him.”

“Sylvester!” said Ludovic scornfully.

“Oh, Sylvester was no fool,” answered Shield.

“Good God, he mistrusted scores of people, me amongst them!”

“So little did he mistrust you,” said Shield, putting his hand into his waistcoat-pocket, “that he bade me give you that if ever I should see you again, and tell you not to pledge it.”

Ludovic stared at the great ruby. “Thunder and Turf, did he leave me that! ”