"Rubbish. You and I know what those sort of arrangements are worth."

"Are you suggesting that I'm a thief?"

"I'm doing nothing of the sort. I'm asserting that you're a fool."

"Reggie!"

"Archie?"

He glared at me so that, for a moment, I thought that he was going to give further proof of the truth of my words upon the spot. But he changed his mind. He dropped on to a chair with a sort of gasp.

"What you say is correct enough. I have no right to cavil. I thank you for the word." He sat silent. Then he added, "But it's not only you I owe, I owe Pendarvon."

"If you take my advice, you'll pay Pendarvon."

"It's not advice I want; it's money. I owe the man, in round numbers, four thousand five hundred pounds. I don't know where to turn to raise four hundred."

"My dear Archie, you must excuse my saying, that's your affair. You would punt--although he gave you warning. The man lost heavily himself. This morning he's sent me round a cheque to settle."