'That is the steamer that has the musicians, clearly,' said Frank King.

'Yes; but I don't hear any music,' answered Edith, in a voice that seemed rather ominous.

They sat and waited. The last of the guests had got into the small boats and gone away; they were left alone in front of the big hotel. The moon was rising behind the hills in the south, and already the surface of the lake was beginning to declare itself—a dull blue-black.

'I cannot hear the least sound; is it possible they can be playing?' said Edith, disappointedly.

It was a beautiful spectacle, at all events, even if there were no sound accompanying it. For now the moon had risen clear, and there was a pale soft light all along the northern hills, and just enough radiance lying over the bosom of the lake to show the darkness of the hulls of the distant steamers. And then, as they watched, some order seemed to grow out of that confusion of coloured lights; the high golden mass drew away; and then the others followed, until the long undulating line seemed like some splendid meteor in the night. There was no sound. Cadenabbia, with all its yellow fire, was as clearly deserted as this Bellagio here, with all its paper lanterns and coloured cups. The procession had slowly departed. The Serenata was taking place somewhere else. The gardens of this hotel were silent but for the occasional voices of Frank King and his companions.

Well, they laughed away their disappointment; and chatted pleasantly, and enjoyed the beautiful night, until Miss Beresford thought it was time for them to go indoors.

'But where's Nan?' she said. 'That girl is never to be found.'

'I think I can find her,' said Frank King, rising hastily. He had been regarding for some time back that long allée between the chestnuts, and a dark figure there that was slowly pacing up and down, occasionally crossing the patches of moonlight. When he had got about half-way along, he found Nan leaning with her elbows on the parapet, and looking out on the moonlit lake.

'Oh, Miss Anne,' he said, 'your sister wants you to come indoors.'

'All right,' she said cheerfully, raising herself and preparing to go.