"Yes," he said gravely; "I remember telling you that I was going to see an aunt at Dorking."

"An aunt who had a little bit of money, eh, Val?" asked the Captain, with a grin.

"Yes. I may have gone so far as to speak of a little bit of money."

"And neither the aunt nor the bit of money ever existed, eh, Val? They were mere figments of the brain; and instead of going to Dorking you went to Ullerton, eh, Val? You stole a march upon me there. You wanted to throw your old chum off the scent, eh? You thought you had got hold of a good thing, and you were afraid your friend and companion might get a share of it."

"Well, you see, my friend and companion had a knack of getting the lion's share. Besides, this good thing was not my own affair. I had to protect the interest of another person—my employer, in point of fact; and it was by his suggestion, and in compliance with his request, that I invented that harmless fiction about Dorking. I don't think there was any dishonourable dealing in the matter. We were soldiers of fortune both; and the stratagem with which I protected myself against you was a very innocent one. You would have employed any stratagem or invented any fiction under the same circumstances. It was a case of diamond cut diamond."

"Precisely; and if the older soldier, if the free lance of many a campaign, got the best of it in the long run, the younger freebooter could hardly think himself ill-used—could he now, Val?"

"Well, no, I suppose not," replied Valentine, puzzled by the significance in the face of his old companion. That sly twinkle in the Captain's eyes, that triumphant smile wreathing the Captain's lips, must surely mean mischief.

Valentine Hawkehurst remembered the vague suspicion that had flashed into his mind on that Christmas Eve when Captain Paget and he had dined together at a West End restaurant, and the Captain had toasted Charlotte Halliday with a smile of sinister meaning. He began to anticipate some startling and unpleasant revelation. He began to understand that in some manner this inscrutible schemer had contrived to overreach him.

"What are you going to tell me?" he asked. "I see there is some lurking mischief in your mind. How was it you were at Ullerton when I was there? I met you on the platform of the station, and I had a vague half suspicion that you followed me up on more than one occasion. I saw a glove in a man's parlour—a glove which I could have sworn to as yours. But when I came back, you were so plausible with your talk of promoting business, and so on, that I was fool enough to believe you. And I suppose you cheated and tricked me after all?"

"Cheated and tricked are hard words, my dear Val," said the Captain, with delightful blandness. "I had as much right to transact imaginary business in the promoting line at Ullerton as you had to visit a fictitious aunt at Dorking. Self-interest was the governing principle in both cases. I do not think you can have any right to consider yourself injured by me if I did steal a march upon you, and follow close upon your heels throughout that Ullerton business. I do not think that you can have, on moral grounds, any justification for making a complaint against your old ally."