"Everything else," Mrs. Fairhew said at length, "is simply nothing at all in comparison to a piece of business news I received. Have you heard of the Tillington failure?"

"What!" cried Jack. "R. B. Tillington?"

"Yes. Their own notice was with the other mail this afternoon," she responded. "Liabilities something like a third of a million and their assets nothing."

"How in the world did it happen?" asked Tab. "I knew they had a lot to do with mines, and of course those are always risky; but Tillington always had the name of being awfully clever."

"Perhaps he was too clever," Jack suggested.

"Clever or not," Mrs. Fairhew said, "he has come to grief, and, I am ashamed to confess, he has lost some money for me."

"I am very sorry for that," Jack responded. "I'll wager you'll have plenty of distinguished company. I'm awfully afraid Uncle Randolph got his fingers burned. He's had dealings with Tillington for ever so long. I never took kindly to the man myself, but Uncle Randolph had a great opinion of his business sagacity."

"I'll wager Mrs. Fairhew's bound to be in good company even in misfortune," Jerry declared with his usual somewhat clumsy gallantry.

Mrs. Fairhew smiled, and made a little sweeping gesture with her fan as if the subject were a disagreeable one and should be waved aside.

"Even that," she said, "doesn't soothe my wounded vanity. The money I've lost is fortunately not very much, but I pride myself on my business head, and I made this investment in spite of the advice of my banker. Think how he will chuckle! I'd rather have lost three times as much on an investment he selected."