He paused to consult his snuff-box, and smiled to see how suddenly inattentive heads were eagerly bent forward to listen.

“It may not be generally known that my dear nephew Jabez, at the close of his honourable apprenticeship, declined an eligible offer from brother Chadwick, in order to remain with us.”

(Walmsley and Aspinall exchanged glances. Mrs. Clowes looked knowing.)

“It may not be generally known that he has a small amount of capital invested in our concern at present.”

(“Small enough, I should say,” muttered Laurence.)

“Now, there being no likelihood that his son Richard will ever leave his ship for a warehouse, Mr. Chadwick proposed to take his son-in-law Jabez into equal partnership, considering his integrity, his business tact, and energy to be equivalent to capital.”

“Hear! hear!” in which Mr. Chadwick’s stumbling tongue was loudest, and “Success to the new partnership!”

(The snuff-box closed, the bandana was disposed of, the speaker’s beaming face was all in a glow.)

“Stop! stop, gentlemen! not so fast. You will have to fill your glasses afresh. We have not yet got to the new partnership.”

(“What the d—— l is he driving at?” was Aspinall’s polite query to Walmsley, who shook his head in token of ignorance.)