At this instant the music broke off with a sudden clang; the dancers paused where they stood, as the great bell of the palace tower sent its strong, mellow boom of midnight out over the frost-bound city.

Rallywood, on looking round an instant later, saw that masks and dominoes had disappeared. Opposite to him stood Valerie Selpdorf in a dress of some deep velvety shade, which bore, wrought upon its texture here and there, tiny horseshoes embossed in iridescent jewels. A diadem of the same shape crowned her dark hair. Yet all the richness and delicacy of the blended colourings struck Rallywood with only one odd remembrance—his own boot-heel outlined in Révonde mud upon a long suède glove. The same association apparently occurred to Baron von Elmur. His glance fled from Valerie to Rallywood, and he smiled with some malice.

'What have we here, Mademoiselle? The stamp of some idealised cavalry charger?' he asked. 'I should be eternally grateful if only I were—of the cavalry!'

A sudden intense expression, like a spasm of hope or happiness, crossed Unziar's pale face in a flash. A word sprang almost involuntarily from his lips.

'The Guard——' But the girl cut him remorselessly short.

'I do not idealise either the Guard'—she paused, then went on without taking her eyes from Elmur's face—'or the cavalry. One has illusions, doubtless, but none so entirely absurd! I have idealised my own desire merely. I want good luck. I am "Good Luck!"' She spoke the last two words in English, smiling back at Elmur.

The Baron bowed. He was not beaten yet.

'That is well,' he exclaimed; 'since the cavalry and Guard are disowned, it means that the good luck is for the poor diplomat!'

'Provisionally, yes,' said the girl.

'Mademoiselle Selpdorf has already given this waltz to me,' said Unziar, stepping forward.