'No, it does not refer to you, but it refers to one of your house. Your nephew, William Longworth, is a scoundrel!'

'Ah!' said the old man, placing the despatch on the desk again, and removing his glasses, 'have you come to tell me that?'

'Yes, I have. Did you know it before?'

'No, I did not,' answered the old gentleman, his colour rising; 'and I do not know it now. I know you say so, and I think very likely you will be glad to take back what you have said. I will at least give you the opportunity.'

'So far from taking it back, Mr. Longworth, I shall prove it. Your nephew formed a partnership with my friend Kenyon and myself to float on the London market a certain Canadian mine.'

'My dear sir,' broke in the old gentleman, 'I have no desire to hear of my nephew's private speculations; I have nothing to do with them. I have nothing to do with your mine. The matter is of no interest whatever to me, and I must decline to hear anything about it. You are, also, if you will excuse my saying so, not in a fit state of temper to talk to any gentleman. If you like to come back here when you are calmer, I shall be very pleased to listen to what you have to say.'

'I shall never be calmer on this subject. I have told you that your nephew is a scoundrel. You are pleased to deny the accusation.'

'I do not deny it; I merely said I did not know it was the case, and I do not believe it, that is all.'

'Very well; the moment I begin to show you proof that things are as I say——'

'My dear sir,' cried the elder man, with some heat, 'you are not showing proof. You are merely making assertions, and assertions about a man who is absent—who is not here to defend himself. If you have anything to say against William Longworth, come and say it when he is here, and he shall answer for himself. It is cowardly of you, and ungenerous to me, to make a number of accusations which I am in no wise able to refute.'