"You'll be funnier still if you don't hurry up with that coat of varnish," exclaimed the Leader, with mock severity. "Stick to it, man; we want to be able to show Mr Trematon something by the time he returns."

Just then Jellyboy stalked in.

"Mr Atherton, you're wanted at once in the Head's study."

Atherton hurriedly washed his hands, smoothed his hair and donned his blazer over his Scout's uniform. It was the custom for the lads to wear their uniform during their work in the gym., after "prep." was over; but for the first time on record was a Scout in full war-paint summoned to see the Head. The Rev. Septimus took particular pains to avoid sending for any of his pupils except when in their ordinary clothes; but on this occasion the warning was evidently urgent.

"Come in," said the Head, briskly. "Atherton, this is Sir Silas Gwinnear."

The Scout could hardly recognise the stranger as the same person he had rescued. Sir Silas under ordinary everyday conditions was a tall, thin-featured man with grey hair and beard. He bore the stamp of a self-made merchant, for he was somewhat showily dressed, an obtrusive gold watch-chain of old-fashioned make with a heavy seal, a massive signet ring and a thick scarf-pin being the outward signs of his opulence. His manner was pompous; but in his deep-set grey eyes there lurked the suspicion of a kindly nature.

"Ah, good evening, Atherton," exclaimed the Baronet, rising and shaking the Scout's hand. "I am out and about, you see, thanks to your bravery, my dear young sir. I took the first opportunity of calling and thanking you personally for what you have done for me."

"I only did my duty, sir."

"And did it well, too, I declare. To get to the point, Atherton: I am a man of few words, but you will not find me ungrateful. If at any future time I can be of assistance to you don't hesitate to ask. I flatter myself that I have a fair share of influence. Meanwhile I don't suppose you will object to having a little pocket-money. School-boys, I believe, are always fond of tuck."

So saying, Sir Silas thrust his hand deep into his trousers' pocket and fished out a fistful of gold and silver coins. From these he selected five sovereigns and offered them to his youthful rescuer.