‘In 1920 I transferred the greater part of it to the Ethiopian Development Syndicate, a perfectly sound investment which will in time be as good as ever, if not better. Unfortunately, owing to this Government and all this socialistic talk the soundest investments have been badly hit. The Ethiopian Development Syndicate is one of them.’
‘Go on, Henry. I have understood quite well so far. You have administered all my money into something that doesn’t pay. Now explain why you did this.’
‘I had every reason for thinking that I should be able to sell out at a profit almost immediately. During November the shares had gone up from 5¾ to 8½. I bought in December at 8½. They went to 8¾ and since then have steadily sunk. They now stand at 4. Of course, my dear, you needn’t be alarmed. They will rise again the moment we have a Conservative Government, and that, thank Heaven, must come soon. But you see at present it is out of the question for you to think of leaving us.’
‘But don’t these Ethiopians have dividends?’
‘These,’ said Henry with dignity, ‘are not the kind of shares that pay dividends. They are—that is to say, they were, and of course will be again—a sound speculative investment. But at present they pay no dividends worth mentioning. Now, Lolly, don’t become agitated. I assure you that it is all perfectly all right. But you must give up this idea of the country. Anyhow, I’m sure you wouldn’t find it suit you. You are rheumatic——’
Laura tried to interpose.
‘—or will be. All the Willoweses are rheumatic. Buckinghamshire is damp. Those poetical beech-woods make it so. You see, trees draw rain. It is one of the principles of afforestation. The trees—that is to say, the rain——’
Laura stamped her foot with impatience. ‘Have done with your trumpery red herrings!’ she cried.
She had never lost her temper like this before. It was a glorious sensation.
‘Henry!’ She could feel her voice crackle round his ears. ‘You say you bought those shares at eight and something, and that they are now four. So if you sell out now you will get rather less than half what you gave for them.’