"Worse," said Tony calmly. "Much worse. There are my unhappy tradesmen to be considered. That's the only point that worries me. I hate doing a tradesman, Reggie, but I'm afraid I shall have to."

"Of course you will," said Reggie hopefully. "We're always having to do unpleasant things in this life. It's what my uncle the bishop calls 'our duty,' You'll have to go bankrupt, Tony, and then borrow a few thousands and start over again."

Tony, who was adjusting his tie with some care, smiled.

"It's a good idea," he said, "but, unfortunately, I've rather forestalled it. The five thousand that I've got on Little Eva with Morris and Weaver was a sort of farewell testimonial from my friends. I think I touched everyone except you and Ropes, and Ropes has been paying the bills for at least a fortnight. I really can't go on any longer, or the poor fellow will have lost all he's robbed me of."

"Do you mean to say you've put the actual cash up?" demanded Reggie in horror.

"I had to, my dear Reggie. That little beast Murray, who runs the business, wouldn't take a 'pony' from me unless he saw the colour of it first."

"And what do you stand to win?"

Tony sighed.

"Twenty-seven thousand pounds," he said. "It's a beautiful sum, isn't it? I could pay my bills and live for nearly three years on it."

Reggie poured himself out the remainder of the champagne.