To many hundreds of Englishmen who read their papers on that morning this announcement conveyed but little. That there is such a country as Persia we all know, that English interests predominate in the south and Russian interests in the north we have all superficially understood from childhood; but in this knowledge, coupled with the fact that Persia is comfortably far away, we are apt to rest content. It is only to the eyes that see through long-distance glasses, the minds that regard the present as nothing more nor less than an inevitable link joining the future to the past, that this distant, debatable land stands out in its true political significance.

To the average reader of news the statement of Russia's move seemed scarcely more important than had the first report of the border risings in January, but to the men who had watched the growth of the disturbance it came charged with portentous meaning. Through the entire ranks of the opposition, from Fraide himself downward, it caused a thrill of expectation—that peculiar prophetic sensation that every politician has experienced at some moment of his career.

In no member of his party did this feeling strike deeper root than in Loder. Imbued with a lifelong interest in the Eastern question, specially equipped by personal knowledge to hold and proclaim an opinion upon Persian affairs, he read the signs and portents with instinctive insight. Seated at Chilcote's table, surrounded by Chilcote's letters and papers, he forgot the breakfast that was slowly growing cold, forgot the interests and dangers, personal or pleasurable, of the night before, while his mental eyes persistently conjured up the map of Persia, travelling with steady deliberation from Merv to Meshed, from Meshed to Herat, from Herat to the empire of India! For it was not the fact that the Hazaras had risen against the Shah that occupied the thinking mind, nor was it the fact that Russian and not Persian troops were destined to subdue them, but the deeply important consideration that an armed Russian force had crossed the frontier and was encamped within twenty miles of Meshed-Meshed, upon which covetous Russian eyes have rested ever since the days of Peter the Great.

So Loder's thoughts ran as he read and reread the news from the varying political stand-points, and so they continued to run when, some hours later, an urgent telephone message from the 'St. George's Gazette' asked him to call at Lakely's office.

The message was interesting as well as imperative, and he made an instant response. The thought of Lakely's keen eyes and shrewd enthusiasms always possessed strong attractions for his own slower temperament, but even had this impetus been lacking, the knowledge that at the 'St. George's' offices, if anywhere, the true feelings of the party were invariably voiced would have drawn him without hesitation.

It was scarcely twelve o'clock when he turned the corner of the tall building, but already the keen spirit that Lakely everywhere diffused was making itself felt. Loder smiled to himself as his eyes fell on the day's placards with their uncompromising headings, and passed onward from the string of gayly painted carts drawn up to receive their first consignment of the paper to the troop of eager newsboys passing in and out of the big swing-doors with their piled-up bundles of the early edition; and with a renewed thrill of anticipation and energy he passed through the doorway and ran up-stairs.

Passing unchallenged through the long corridor that led to Lakely's office, he caught a fresh impression of action and vitality from the click of the tape machines in the subeditors' office, and a glimpse through the open door of the subeditors themselves, each occupied with his particular task; then without time for further observation he found himself at Lakely's door. Without waiting to knock, as he had felt compelled to do on the one or two previous occasions that business had brought him there, he immediately turned the handle and entered the room.

Editors' offices differ but little in general effect.

Lakely's surroundings were rather more elaborate than is usual, as became the dignity of the oldest Tory evening paper, but the atmosphere was unmistakable. As Loder entered he glanced up from the desk at which he was sitting, but instantly returned to his task of looking through and marking the pile of early evening editions that were spread around him. His coat was off and hung on the chair behind him, axed he pulled vigorously on a long cigar.

“Hullo! That's right,” he said, laconically. “Make yourself comfortable half a second, while I skim the 'St. Stephen's'.”