He fumbled in the side-pocket of his wet coat, which hung on a near-by chair, produced a damp paper of the familiar yellow, smoothed it out and handed it across the table.

"I guess I won't keep any secrets from you, Mr. Varney."

Varney, taking the telegram with a nod, read the following:

Gazette, HUNSTON:

Varney-Stanhope story good stuff, but lacking details, vague and inaccurate. Stanhope located in Adirondacks, though not reached. See Daily to-day. Man on yacht Varney. Apparent secrecy surrounding departure from here. Interview him sure and secure full statement as to business which brought him to Hunston. Also interview Mrs. Elbert Carstairs in Hunston. She separated from husband years ago. His yacht there with name erased suggests mystery. Rush fullest details day-rate if necessary. Pictures made. Expect complete story and interviews early to-night sure. S. P. STOKES.

"Now," said Charlie Hammerton, when Varney looked up, "you see why I went to such a lot of trouble to get hold of you."

"Yes," said Varney, slowly, his eye upon him, "I see."

He folded the telegram, laid it at Hammerton's elbow, got up and stood with his hands on the back of his chair, looking down. At the thought that he had ever hoped to call the reporter off, to stop this deadly machinery of journalism, once it had been started, he could have laughed. The Daily telegram showed how impossible that had always been. Now it was suddenly and overwhelmingly plain that to force a fight on Hammerton, which had been his favorite purpose from the beginning, even to seize and lock him up, would be of no avail whatever. Other reporters in endless procession, waited behind him, ready to step into his place; and the pitiless machinery, in which he, Varney, happened to be caught at the moment, would go steadily grinding on till it had crushed out the heart of the hidden truth.

He saw no way out at all. His mind revolved at fever heat, while he said calmly: "Go back to your employers, Mr. Hammerton, and report that you have no story to sell them. Say further that since they knowingly printed a lying slander about me this morning, you, as an honorable man, insist upon their making full retractions and apologies to-morrow."

Hammerton, who had taken his interview as a foregone conclusion, looked momentarily astounded; but on top of that his manner changed again, to meet Varney's changed one, in the wink of an eye.