"It would be safe to reckon on a quarter of a million a year, all told?"

"Quite safe."

"Then, Mr. Isaacstein, I will supply you with diamonds of that value every year for many years."

The Jew relaxed the pressure on his thumbs. Indeed he passed a tremulous hand across his forehead. He was beaten again, and he knew it—worsted by a gutter snipe in a war of wits.

The contest had one excellent effect. It stopped all further efforts on Isaacstein's part to wrest Philip's secret from him. Thenceforth he asked for, and obtained, such diamonds as he needed, and resolutely forbade himself the luxury of questioning or probing the extent of his juvenile patron's resources.

But there was a long pause before he found his tongue again. His voice had lost its aggressiveness when he said:

"In the police court I valued the diamonds you produced at fifty thousand pounds. It does not necessarily follow that I am prepared to give such a sum for them at this moment. I might do so as a speculation, but I take it you do not want me to figure in that capacity. It will be better for you, safer for me, if I become your agent. I will take your stones to Amsterdam, have them cut sufficiently to enable dealers to assess their true worth, and sell them to the best advantage. My charge will be ten per cent, and I pay all expenses. To-day I will give you fifty pounds. To-morrow I will take you to a bank and place five thousand to your credit. Meanwhile, I will give you a receipt for thirty stones, weighing, in the rough, so many carats, and you, or anyone you may appoint, can see the sale vouchers subsequently, when I will hand you the balance after deducting £5,050 and my ten per cent. The total price may exceed fifty thousand, or it may be less, but I do not think I will be far out in my estimate. Are you agreeable?"

Some inner monitor told Philip that the Jew was talking on sound business lines. There was a ring of sincerity in his voice. Apparently he had thrust temptation aside, and was firmly resolved to be content with his ten per cent.

And this might well be. Twenty-five thousand pounds a year earned by a few journeys to the Continent—a few haggling interviews in the Hatton Garden office! What a gold mine! Moreover, he would be the head man in the trade. He was that now, in some respects; but under the new conditions none could gainsay his place at the top. Even the magnates of Kimberley would be staggered by this new source of supply. What did it matter if the boy kept to his rags and amazed the world, so long as the diamonds were forthcoming? It was no silk-hatted gentleman who first stumbled across the diamond-laden earth of South Africa. Isaacstein had made up his mind. Fate had thrust this business into his lap. He would be a fool to lose it out of mere curiosity.

"Yes," said Philip. "I agree to that."