"I'm a Philistine, Iris. Forgive me. I don't somehow anticipate much danger to Rose's pearls."

"You're wrong, Mr. Harker," she said, gravely. "You've never seen a tangible materialization. I have—and I know."

"Anyway," he laughed, "there's no use attempting to ask her to take them off, because she won't. And incidentally it looks to me as if the worthy Professor was going to get busy. There's a wild look in his eye."

"Will you take your seats, please, ladies and gentlemen? The two gentlemen on opposite sides of the room. I thank you." In a mournful way he contemplated the circle from the centre of the floor. "I would point out to all of you," he continued, "that our experiment to-night is a difficult one, entailing the highest form of will-co-operation and mental effort. If we are successful, I can tell no more than you what form this materialization will take. But I must entreat of you to concentrate with all your power on the one main salient fact of producing a tangible thing: and I must beg you most earnestly not, under any circumstances, to speak while the experiment is in progress. We will now put out the lights."

And the last thing Billy Merton was conscious of before the lights went out were Iris Sala's grey-green eyes fixed on him with an inscrutable baffling look in them. Even in the darkness he seemed to see them: languorous, mocking, a little cynical. And there was something else—some other emotion which eluded him for the moment. It wasn't sorrow, though it seemed akin to sorrow; it was—yes, it was pity. He moved slightly in his chair, and nodded his head in the darkness. Pity—that was the other message in those wonderful eyes: and the thought brought him back to the reality of his own position.

Paul Harker must have told her, of course: told her that he'd been losing heavily, and she was sorry for him. Even to a millionaire like Harker five thousand pounds on a single hand of poker would seem fairly heavy; and to him—— He gave a mirthless little laugh, which called forth an instant rebuke from the Professor.

"Perfect silence, please."

Billy Merton lay back in his chair and closed his eyes. His brain was racing with the feverish activity of a worried man. If it had been anything else—anything but a gambling debt. Thank God! his father was dead, and would never know the disgrace of it; but there were quite a number of relations. They'd soon find out; things of that sort can't be kept dark. What a fool, what a damnable fool he'd been!

And it was at that moment that there came a soft bump on the floor, and he heard the woman in the next chair to him draw in her breath sharply.

For a while he stared rigidly into the darkness; then, with a slight frown, he let his body relax. He was in no mood for entertainments of this type: he wished now that he hadn't come. And yet it had been very decent of Harker suggesting it—very decent. Was there a possibility, he wondered—if he made a clean breast of the whole thing to his host—was there a possibility of his lending four thousand? It seemed the only hope, the bare chance of salvation. He'd ask him after this cursed séance was over. The worst that could happen would be a refusal. And supposing he didn't refuse? Supposing—— Billy drew in a deep breath at the mere thought.