'Prejudice, prejudice,' he murmured, blandly. 'Elderly gentlemen who live on their estates are prone to that sort of thing.'

'He did my mother the honour to call her a shopkeeper's daughter—her father was a brewer at Exeter, in a very fair way of business—upon which my father, who had some self-respect, and a great deal of respect for his wife, told the Squire that he should take care not to intrude the shopkeeper's daughter upon his notice. "If I hadn't made my will," said my grandfather, "it might be the worse for you. But I have made my will, as you all know. I made it six years ago, and I don't mean to budge from it. When I do a thing it's done. When I say a thing it's said. I never undo or unsay. The estate will be kept together, for the next half-century I think, come what may."'

'Just like him,' said Mr. Pergament, chuckling. 'The man to the life. How well you hit him off.'

'I've heard my father repeat that speech a good many times,' answered Churchill.

'Then you never saw the old Squire?'

'Once only. I was a day boy at Westminster, and one afternoon when I was playing ball in the quadrangle, a curious-looking elderly gentleman, with a drab overcoat, and a broad-brimmed white hat, breeches and topboots, a bunch of seals at his fob, and a gold-headed hunting-crop in his hand, came into the court and looked about him. He looked like a figure out of a sporting print. Yet he looked a gentleman all the same. "Can anybody tell me where to find a boy called Penwyn?" he inquired. I ran forward. "What, you're Churchill Penwyn, are you, youngster?" he asked, with his hands upon my shoulders, looking at me straight from under his bushy grey eyebrows. "Yes, you're a genuine Penwyn, none of the brewer here. It's a pity your father was a younger son. You wouldn't have made a bad Squire. I dare say you've heard of your grandfather?" "Yes, sir, very often," I said; "are you he?" "I am; I'm up in London for a week, and I took it into my head I should like to have a look at you. It isn't likely the estate will ever come to you, but if, by any chance, it should come your way, I hope you'll think of the old Squire sometimes, when he lies under the sod, and try and keep things together, in my way." He tipped me a five-pound note, shook hands, and walked out of the quad., and that's the only time I ever saw Nicholas Penwyn.'

'Curious,' said Mr. Pergament.

'By the way, talking of estates, what is Penwyn worth? My inheritance seemed so remote a contingency that I have never taken the trouble to ask the question.'

'The estate is a fine one,' replied the lawyer, joining the tips of his fat fingers, and speaking with unction, as of a favourite and familiar subject, 'but land in Cornwall, as you are doubtless aware, is not the most remunerative investment. The farm lands of Penwyn produce on an average a bare three per cent. on their value, that is to say, about three pounds an acre. There are eleven hundred acres of farm land, and thus we have three thousand three hundred pounds. But,' continued the lawyer, swelling with importance, 'the more remunerative portion of the estate consists of mines, which after lying idle for more than a quarter of a century, were reopened at the latter end of the Squire's life, and are now being worked by a company who pay a royalty upon their profits, which royalty in the aggregate amounts to something between two and four thousand a year, and is likely to increase, as they have lately opened a new tin mine, and come upon a promising lode.'

'My grandfather risked nothing in the working of these mines, I suppose?'