"Bah! You know as much about life as a Sunday School teacher!" he retorted contemptuously, banging his hand on a bell. "Where's the betting-book? And give me a pen, somebody. Let you mark my words. 'Mr. David O'Rane bets the Marquess Loring ten sovereigns that within ten years of this date five out of the twenty members present to-night will be married. A further ten sovereigns that five will be dead——'"

"Always the optimist," murmured Oakleigh from Loring's side.

"I'll bet that every one of us will have made such a fool of himself that it's wishing himself dead he'll be.... A further ten sovereigns that one at least will have had to cut the country. A further ten that one at least will have lost all his money.... I'm only dealing in averages. Ten years, I said; that's not much for any positive achievement, but I'll bet a further ten pounds that one—and not more than one—will have achieved what an independent tribunal considers fame. A further ten pounds that one of us will make great money——"

"That's sixty pounds," interposed Sinclair warningly.

"But I shan't have to pay it," answered O'Rane, writing rapidly. He read out a summary of the wager and passed the book for Loring to sign. "Besides, I'm going to be the one who makes all the money. I hope you won't be one of the five who die, Jim; or I shall have to claim against your estate and all. Which of us will achieve fame in ten years? Draycott as an Academician? I don't see it. Spurs as a judge? 'Don't see it either. The Gander as an ambassador? The other Spurs?" He looked round the table and went on quickly; half-unconsciously he had decided that Eric Lane would be the first of the five to die. "I should mark down Sinks as the first to marry; there's an appealing domesticity about him. And we shall all make colossal fools of ourselves; don't forget that! Folly's the great leveller. Jim, I think you'd better give a dinner once a year to the survivors just to see how we're getting on."

"If I don't die or cut the country," Loring assented.

O'Rane snapped the clasp of the betting-book and tossed it on a chair behind him.

"You're far too healthy and respectable," he grunted, concentrating his attention on the cooling soup. "Besides, I'm reserving that for Summertown. You know he's been sent down for good and all?"

"A man cuts the country because of the disreputability of others," answered Loring. "By the way, I'm not going to be fined for being late, Mr. President, because I had a good reason. Also, the founder of a club is never fined."

"Let's hear the reason," suggested the president.