The curtains at the end of the room parted and a tall, well-groomed man of about thirty-five came quickly across the floor with outstretched hands.

"Don Fenton, by all that's holy!" he exclaimed, pumping his visitor's hands up and down with vigorous exuberance.

"Percy Varden, by all that's—er—profane!" said Fenton, with equal enthusiasm.

"Old Don Fenton!" repeated Varden, slapping the other on the back and beaming on him with real affection. "And in Serajoz, of all places!"

"A pretty good place to be, if I'm to judge by your surroundings," said Fenton. "You must be a deputy-sultan at least, Yarden, to live in such state."

"Ironia isn't a bad place, Don," said Varden, with sudden soberness. "Or at least it won't be if a certain event comes to pass. If that certain event doesn't happen, I intend to leave all this"—he made a broad gesture to indicate the luxurious room in which they stood—"and find a place for myself in the line with the boys in khaki. When your country's at war, it's hard to be an exile."

"I'm on my way back for that very same purpose," affirmed Fenton warmly. "When the war broke I was in Hungary, and I just escaped the detention camp by two hours. I got over into Russia after a series of adventures—dead broke. I had a letter of credit, of course, but it was gold that was needed. It took me a long time to establish my identity and convert my paper into gold currency. Then I came down through the Balkans on my way home and decided to drop off and see you here in Ironia. And here I am."

"But," said Varden, "what I want to know is how you ever got to Europe in the first place. What's the meaning of all this glib talk of letters of credit and gold currency? Last I heard of you, you were trying to convince the Canadian public that at last Eldorado had been discovered—in the form of subdivisions in Saskatchewan. And I judged from your letters that the public had developed an unwonted degree of scepticism."

"Then you haven't heard of my good fortune?"

"Why, no, I guess I haven't. What's happened?"