No time could have been more propitious for this necessary understanding with Maria, who was feeling amiable, apologetic, as limber as Joan, and almost as warm. She had also lost two-thirds of a pound.

II

Alexina began as soon as Joan left them alone on the shady side of the wide piazza.

"I have a lot of things to tell you," she said nervously. "I have to make certain economies and I want the benefit of your advice."

Mrs. Abbott looked up from her embroidery. "Of course, darling. I was afraid you were going a little too fast for young people."

"That is not it. I always managed well enough…. You know we've never gone the limit: polo at Burlingame and Monterey, gambling, big parties and all the rest of it. I've never run into debt or spent any of my capital. But…"

Maria began to feel anxious and took off the large round shell-rimmed spectacles that enlarged stitches and print. "Yes?"

"You know I had bonds—about forty thousand dollars' worth—those that mother left: I spent those that Ballinger and Geary gave me on the house and one thing and another."

"Yes?" Mrs. Abbott was now alarmed. She had a very keen sense of the value of money, like most persons that have inherited it, and was extremely conservative in its use.

"Well, you see, I thought I saw a chance to treble it—we never really had enough—and I speculated and lost it."