He laughed loud and long, and it was some minutes before I could get a word out of him. When he had exhausted himself, he observed—

"This is a splendid joke. After deducting the dividend, how much did you lose by our unfortunate friend?"

"I had to write off £3,115, and could ill afford it at the time. Why do you ask?"

"This is a business matter between us. How much will you stand out of that sum if I show you how to get it?"

"I know there is no hope of that; but what would satisfy you?"

"Will you give me 25 per cent?"

"Willingly, but what chance is there?"

"Never mind; you go to him with a letter I will write, and if he does not pay you there and then I shall be astonished."

The letter came next day. It was addressed to Mr. Gibbs, marked private and sealed. It seemed a ridiculous errand, but still, as I had promised to deliver the missive, I took it round to Dowgate Hill. I found Mr. Gibbs in his private office, and he welcomed me with the usual smiles.

"What can I do for you?" he asked, in his blandest manner, pointing to a chair.