'No,' he said, absently. 'Oh no, not bad news. The telegram is from the officer I left in charge of the Fly-by-Night; I rather think that I shall be setting out for home again in a couple of days.'

'Oh, I am sorry for that,' she said, quite naturally.

'You go on again to-morrow, Miss Beresford?'

'We were proposing to do so.'

'And where do you think of going to when you get to Lake Como?'

'Bellagio, most probably.'

'Oh, well, I will go with you as far as Bellagio, if I may,' he said, somewhat thoughtfully.

CHAPTER IX.

THE SERENATA.

Next morning also he was preoccupied and anxious, insomuch that even Nan noticed it, and good-naturedly hoped he had had no bad news. He started somewhat.