“I’ve been hard up of late, and at the motor show I sold three cars, for which I have not accounted to the firm. The books will be audited next week and my defalcations discovered. I have no means of repaying the four thousand five hundred pounds, and therefore I shall be arrested and sent to prison as a common thief. That’s briefly the position!”

The girl was speechless at such staggering revelations. Charlie—a thief! It seemed incredible.

“But have you no means whatever of raising the money?” she asked at last, her face pale, while the gloved hand that lay upon his arm trembled.

“None. I’ve tried all my friends, but money is so difficult to raise nowadays. No, Peggy,” he added with suppressed emotion, “let me go my own way—and try to forget me. Now that I am in disgrace it is only right that I should make a clean breast of it to you, and then you alone will understand why I have made excuse to Lady Teesdale and left.”

“Oh, you mustn’t do that, dear,” she urged. “Stay over the week-end! Something will turn up. Do please me by staying.”

“I feel that I really can’t,” he answered. “I’m an outsider to have thus brought unhappiness on you, but it is my fault. I am alone to blame. You must have your freedom and forget me. I took the money to pay a debt of honor, thinking that I could repay it by borrowing elsewhere. But I find I can’t, therefore I must face the music next week. Even if I ran away I should soon be found and arrested.”

“Poor boy!” sighed the girl, stroking his cheek tenderly, while in her eyes showed the light of unshed tears. “Don’t worry. Stay here with me—at least till Monday.”

But he shook his head sadly.