this morning, coupled with certain speeches of Mr. Kennaston's last

night, have given her food for reflection.

"He wouldn't dare," says Margaret, to no one in particular. "Oh, no,

he wouldn't dare after what happened four years ago."

And, Margaret-like, she has quite forgotten that what happened four

years ago was all caused by her having flirted outrageously with Teddy

Anstruther, in order to see what Billy would do.

[IV]

The twelve forty-five, for a wonder, was on time; and there descended

from it a big, blond young man, who did not look in the least like a