First Mem. I see. Have you any idea what the prizes are to be?

Second Mem. Oh, some of them will be very handsome. I am told that the tree is to be decorated with tea-cozies and silver-mounted blue spectacles.

First Mem. Really! I shall not forget to take my one o'clock bread-and-milk regularly in the coffee-room for the next week. I suppose you have quite given up your betting-book?

Second Mem. Well, no, because you see the Act permits betting in moderation, and under proper restrictions. For instance, I am quite prepared to take seven to one against Snuffbox for the Hardbake Selling Stakes, only of course it must be in peppermint drops.

First Mem. (producing betting-book). Well, I would accommodate you if I were not overburdened with peppermint-drops. Make it brandy-balls, and I will do it in ounces.

Second Mem. (referring to betting-book). I am not particularly fond of that sweetstuff, but I think I can act as commissioner for my aunt. (Enters bet.) Is your list full for The Band of Joy Two-year-old Caudle Cup?

First Mem. (after reference to betting-book). Well, I don't mind backing my opinion about the Churchwarden's County Council. Do you know his price?

Second Mem. I see in the Charity Box of last night that he was in considerable demand at Tattersall's. As much as two to one in Abyssinian sugar-sticks was taken freely. I don't mind letting you have a pound of mixed biscuits to an ounce of Everton toffy, if that will suit you.

First Mem. All right. (Makes entry in betting-book.) And now I really must go.

First Mem. What, are you off?