The house of Paget Brothers was never more flourishing than during the spring and summer of 18—. It was three years since the death of its junior partner, Gerald Wyndham, and three years since Mortimer Paget had paid away in full the trust money of eighty thousand pounds which he owed to George Carmichael, of the firm of Carmichael. Parr and Co., Calcutta. Although none of the parties concerned quite intended it, certain portions of the story of this trust got abroad, and became the subject of a nine days' gossip in the City and elsewhere. It had never even been whispered that Paget Brothers were in difficulties. Still such a sum would not be easy to find even in the wealthiest concern. Then the fact also trickled out that Wyndham's life had been insured, heavily insured, in three or four different offices. His death must have come in handily, people said, and they said no more—just then.

The fact was, that had one been even inclined to suspect foul play, Mr. Paget's dangerous illness at the time would have prevented their doing so. Surely no man ever before grieved so bitterly for a dead son-in-law as did this man. The blow had felled him with a stroke. For many months his mind gave way utterly. The words spoken in delirium are seldom considered valuable. What Mr. Paget did or said during the dark summer which followed Wyndham's death never got known. In the autumn he was better; that winter he went abroad, and the following spring he once more was seen in the City.

He looked very old, people said, but he was as shrewd and careful a business man as ever.

"I have to put things in order for my grandson," he would say.

Nobody ever saw him smile just then, but a light used to come into his sunken dark eyes when the child's name was mentioned.

Valentine and the boy spent most of their time in the old house in Park-Lane. She was very gentle with her father, but the relations they had once borne to each other were completely altered. He now rather shrank from her society. She had to seek him, not he her. He was manifestly ill at ease when in her presence. It was almost impossible to get him to come to see her in her own house. When he did so he was attacked by a curious nervousness. He could seldom sit still; he often started and looked behind him. Once or twice he perceptibly changed color, and on all occasions he gave a sigh of relief when he said good-bye.

The child visited his grandfather oftener than the mother did. With the child Mortimer Paget was absolutely at home and happy.

The third summer after Wyndham's death passed away. Valentine spent most of the time at Jewsbury-on-the-Wold. Mr. Paget went abroad, as he always did, during August and September. In October he was once more in town. Valentine came back to London, and their small world settled down for its usual winter routine.

On all sides there were talks of this special winter proving a hard one, the cold commenced early and lasted long. In all the poorer quarters of the great city there were signs of distress. Want is a haggard dame. Once known her face is dreaded. As the days grew short, the darkness deepened, and the fogs became frequent, she was often seen stalking about the streets. Poorly clad children, shivering women, despairing defiant-looking men all trembled and fled before her. The cold was intense, work became slack, and then, to increase all other evils, the great cruel monster, Strike, put down his iron heel. Want is his invariable handmaid. Between them they did much havoc.

It was on a certain short November day of this special winter that Mortimer Paget arrived early at his office. He drove there in his comfortable brougham, and stepped out into the winter cold and fog, wrapped up in his rich furs. As he did so a woman with two small children came hastily up, cast a furtive glance to right and left, saw no policeman near, and begged in a high piteous whining voice for alms.