As it fell out, however, he was saved from a hateful necessity by no less a person than Lord Elstree himself. At their next interview, which befell a few days later, his Lordship said:

"By the way, Hazeldine, I think it just as well to inform you, in view of the fact that you have a very considerable sum invested in the affair, that I am by no means satisfied with the present policy and management--mismanagement would be the proper term for it--of it. My advice is no longer listened to by the Board; my representations are pooh-poohed behind my back; and, in point of fact, I have good reason for believing that the Corporation is slowly but surely drifting into difficulties. In any case, I mean to sever my connection with the concern as soon as possible, and I should advise you to do the same. All this, of course, is strictly entre nous."

"I am extremely grateful to your Lordship for your kindness in giving me the hint"--and so, indeed, he felt himself to be. "I will send in a notice of withdrawal by this evening's post."

After that, his Lordship's talk drifted away to an entirely different topic, but one which, as it happened, had for Edward an interest only secondary to that of the previous one, and the first result of it was a brief note, written and dispatched a couple of hours later.

"Dear Clem,

"If possible, come and see me in the course of to-morrow. Yours,

"E. H."

The following afternoon found Clement at the Brewery.

Edward's first words were: "As regards the twelve thousand pounds, I have already sent in the notice of withdrawal, but, as you are aware, unless the fact has escaped your memory, I shall not receive a draft for the amount till six months from the date of the notice."

"There is no help for that, of course. After all, half a year is not a long time to wait, and now that the first and most important step has been taken, the rest will follow easily and in due course."