Mercy’s eyes looked confusedly away from him. “No name,” she said, in a low voice. “My subscription is anonymous.”

As she replied, the library door opened. To her infinite relief—to Julian’s secret disappointment—Lady Janet Roy and Horace Holmcroft entered the room together.

“Julian!” exclaimed Lady Janet, holding up her hands in astonishment.

He kissed his aunt on the cheek. “Your ladyship is looking charmingly.” He gave his hand to Horace. Horace took it, and passed on to Mercy. They walked away together slowly to the other end of the room. Julian seized on the chance which left him free to speak privately to his aunt.

“I came in through the conservatory,” he said. “And I found that young lady in the room. Who is she?”

“Are you very much interested in her?” asked Lady Janet, in her gravely ironical way.

Julian answered in one expressive word. “Indescribably!”

Lady Janet called to Mercy to join her.

“My dear,” she said, “let me formally present my nephew to you. Julian, this is Miss Grace Roseberry—” She suddenly checked herself. The instant she pronounced the name, Julian started as if it was a surprise to him. “What is it?” she asked, sharply.

“Nothing,” he answered, bowing to Mercy, with a marked absence of his former ease of manner. She returned the courtesy a little restrainedly on her side. She, too, had seen him start when Lady Janet mentioned the name by which she was known. The start meant something. What could it be? Why did he turn aside, after bowing to her, and address himself to Horace, with an absent look in his face, as if his thoughts were far away from his words? A complete change had come over him; and it dated from the moment when his aunt had pronounced the name that was not her name—-the name that she had stolen!