Returning to the smoking lounge he finished off his correspondence and took possession of one of the couches and lit a cigar.

For a time the hang-over of business pre-occupied him. But it was not for long. His whole thought swiftly became absorbed in Nancy McDonald, with her wonderful halo of vivid hair. It had been the same during the whole of his journey down from Sachigo, in fact, from the moment he had first set eyes on her when she entered his office on that memorable day of her visit. She pre-occupied all his leisure.

He had thought deeply on the meaning of her visit to him, and his thought had had little to do with the mission she had come upon. Swift decision had dealt with that. No, it was the girl herself who claimed him.

He understood the sheer design of the Skandinavia in sending so perfect a creature to him. That was easy. It only helped to prove their desire—their urgent desire—to free themselves from the threat of his competition. But he wondered at their selection.

Somehow he felt that the Skandinavia should have chosen, if their choice fell upon a woman, a clever, brilliant, unscrupulous creature who knew her every asset, and was capable of playing every one of them in the game of commercial warfare. Instead of that they had sent Nancy, with her sweetly beautiful face and perfect hair, to be their unthinking tool. He realised her simplicity, her splendid loyalty to those she served. He knew she was without design or subterfuge. She was just the most beautiful, desirable creature he had ever beheld in his life.

He told himself it was all wrong. This wonderful child should never have been sent on such a journey, on such an errand. She was fit only for the shelter of a happy home life, protection from every roughness, every taint with which the sordid world of commerce could besmirch her. His chivalry was stirred to its depths, and the wrong of it all, as he saw it, only the more surely deepened his purpose for his dealings with an unscrupulous rival who could commit so egregious an outrage.

Bull Sternford's existence, until now had always been a joyous heart-whole striving which had no more in it than the calmly conceived ideals of a heart undisturbed by sexual emotions. Now—now that had been completely changed. Perhaps he was not yet wholly aware of the thing that had come to him. He saw a woman, a perfect creature who had come to him out of the forest world in which his whole life was bound up, and a passionate excitement had taken possession of him. There could be no denial of that. But so far the full measure of his feelings had not revealed itself. All he wanted was to think of nothing and nobody just now, but this girl who had stirred him so deeply. So he stretched himself out on the well-sprung couch and yielded to the delight of it all.

But the hour he had been free to dispose of thus was swiftly used up with his pleasant dreaming. And it was with a feeling of real irritation that he finally flung away his cigar and bestirred himself. His irritation did not last long, however, and his consolation was found in the fact that Elas Peterman was awaiting him, and Elas Peterman was the man who had so outrageously offended against his ideas of chivalry.

He stood up and brushed the fallen cigar ash from his clothing. His one desire now was to get through with the business once and for all, to do the thing that should leave Nancy McDonald with the reward of her labours. Yes, he wanted to do that. Afterwards—well, he must leave the "afterwards" to itself.

He hurried away in search of his heavy winter overcoat.