‘Thank you—thank you. But have you not heard that Philip is in difficulties?’

‘What kind of difficulties—about money?’

‘Yes, yes; and his uncle, it is said, will not help him, or cannot. But you can, and will, if it should be true.’

Her hand touched his arm trustfully, as if to signify that her hope of safety lay in him. He placed his hand on hers.

‘I know nothing of Philip’s affairs, and have forbidden any one in the house to speak about them to me. He and I have settled matters between us: he has chosen his course, and is to abide by it. You are aware that it is not the course I should have liked him to follow; and being as it is, I cannot interfere with him.’

‘But if you learn that he has been deceived and is on the brink of a great misfortune—of ruin, which will bring disgrace with it—you would not refuse to guide him!’

For an instant there was a gleam in the man’s eyes, as if he rose in triumph over a fallen foe.

‘You must tell me what you mean,’ he said, controlling whatever evil passion had stirred within him and speaking in his ordinary measured tone. ‘What you say would be very alarming, if I did not think that you must be mistaken in regard to Mr Shield. As for Philip’s speculation, I did not think it had much chance of success, although it seemed to me worth trying, if it afforded him pleasure, and if—as I understood—the success or failure of his project was provided for. Has he told you that the failure has come so quickly?’

‘No; he has not told me that failure has come upon him, but that he feared it. The men, the work, and all the calculations of expenses seemed to have gone wrong when he last spoke to me. Within this hour, I learned that it was reported in the city that he would be unable to meet the engagements he has made.’

‘You must not mind city reports about new concerns, Miss Heathcote, for they are frequently the result of nothing more than the whispers of rivals who speak of what they wish to happen. Rumours are seldom circulated about an old established business without some good grounds for them. But for Philip’s business, you will have to prepare yourself for all sorts of ridiculous rumours. You must admit that his experiment is peculiar enough to provoke them.’