"I do not fight with schoolboys," he said.

The colour flooded Philip's face.

"Perhaps because you are afraid," he said quickly, guarding his temper.

"Perhaps," nodded Bancroft. "Yet I have not the reputation of a coward."

Swift as a hawk Philip pounced.

"You have, sir, as I well know, the reputation of a libertine!"

It was Bancroft's turn to flush.

"I—beg—your—pardon?"

"It is necessary," bowed Philip, enjoying himself now for the first time in many days.

"You—impudent boy!" gasped Bancroft.