In his opinion, failing "blood" the next best thing to possess was money, and he lost no opportunity of throwing out dark and covert hints as to the enormous wealth possessed by the Graves and Williams families, Williams being his mother's maiden name.

His favourite boast, however, was of an uncle in Australia. Josiah Williams had, according to Graves, emigrated many years before. Fortune dogged his footsteps with almost embarrassing persistence until, at the time that his nephew Reginald went up to Oxford, he was a man of almost incredible wealth. He owned mines that produced fabulous riches, and runs where the sheep were innumerable.

Graves was purposely vague as to the exact location of his uncle's sheep-stations, and on one occasion he spent an unhappy evening undergoing cross-examination by an Australian Rhodes scholar. However, he persisted in his story, and Australia was a long way off, and it was very unlikely that anyone would be sufficiently interested to unearth and identify all its millionaires in order to prove that Josiah Williams and his millions existed only in the imagination of his alleged nephew.

Graves was a thin, pale-faced young man with nondescript features and an incipient moustache. Furthermore, he had what is known as a narrow dental arch, which gave to his face a peevish expression. When he smiled he bared two large front teeth that made him resemble a rabbit. His hair was as colourless as his personality. He was entirely devoid of imagination, or, as Tom Little phrased it, "What he lacked in divine fire, he made up for in damned cheek."

He led a solitary life. When his fellow undergraduates deigned to call upon him it was invariably for the purpose of a "rag."

Trade was the iron that had entered his soul; he could never forget that his father was a grocer and provision merchant in a midland town. His one stroke of good luck, that is as he regarded it, was that no one at St. Joseph's was aware of the fact. Had he possessed the least idea that the story of his forebears was well known at St. Joseph's it would have been to him an intolerable humiliation.

Subservient, almost fawning with his betters, he was overbearing and insulting to his equals and inferiors: since his arrival at St. Joseph's his "scout" had developed a pronounced profanity. Rumour had it that Graves was not even above the anonymous letter; but there was no definite evidence that those received by certain men at St. Joseph's found their inspiration in the brain of Reginald Graves.

Nothing would have happened, beyond increased unpopularity for Graves, had it not been for an episode out of which Graves had come with anything but flying colours, and which had procured for him a thrashing as anonymous as the letters he was suspected of writing.

He was a favourite with Dr. Peter, the Master of St. Joseph's, and this, coupled with the fact that the Master was always extremely well-informed as to the things that the undergraduates would have preferred he should not know, aroused suspicion.

One day Travers asked Graves to dinner, and over a bottle of wine confided to him the entirely fictitious information that he was mixed up in a divorce case that would make the whole of Oxford "sit up." Next day he was sent for by Dr. Peter, who had heard "a most disturbing rumour," etc. Travers had taken the precaution of confiding in no one as to his intentions. Thus the source of Dr. Peter's information was obvious.