"It's plain enough you like him," he remarked.

She reflected seriously. "Yes, I do; though I hadn't thought of it just that way, because I was thinking most about the position he was in and about—Mr. Corvet. But I do like him."

"So do I," Spearman said with a seeming heartiness that pleased her. He broke a piece of bread upon the tablecloth and his big, well-shaped fingers began to roll it into little balls. "At least I should like him, Connie, if I had the sort of privilege you have to think whether I liked or disliked him. I've had to consider him from another point of view—whether I could trust him or must distrust him."

"Distrust?" Constance bent toward him impulsively in her surprise. "Distrust him? In relation to what? Why?"

"In relation to Corvet, Sherrill, and Spearman, Connie—the company that involves your interests and your father's and mine and the interests of many other people—small stockholders who have no influence in its management, and whose interests I have to look after for them. A good many of them, you know, are our own men—our old skippers and mates and families of men who have died in our service and who left their savings in stock in our ships."

"I don't understand, Henry."

"I've had to think of Conrad this morning in the same way as I've had to think of Ben Corvet of recent years—as a threat against the interests of those people."

Her color rose, and her pulse quickened. Henry never had talked to her, except in the merest commonplaces, about his relations with Uncle Benny; it was a matter in which, she had recognized, they had been opposed; and since the quarrels between the old friend whom she had loved from childhood and him, who wished to become now more than a mere friend to her, had grown more violent, she had purposely avoided mentioning Uncle Benny to Henry, and he, quite as consciously, had avoided mentioning Mr. Corvet to her.

"I've known for a good many years," Spearman said reluctantly, "that Ben Corvet's brain was seriously affected. He recognized that himself even earlier, and admitted it to himself when he took me off my ship to take charge of the company. I might have gone with other people then, or it wouldn't have been very long before I could have started in as a ship owner myself; but, in view of his condition, Ben made me promises that offered me most. Afterwards his malady progressed so that he couldn't know himself to be untrustworthy; his judgment was impaired, and he planned and would have tried to carry out many things which would have been disastrous for the company. I had to fight him—for the company's sake and for my own sake and that of the others, whose interests were at stake. Your father came to see that what I was doing was for the company's good and has learned to trust me. But you—you couldn't see that quite so directly, of course, and you thought I didn't—like Ben, that there was some lack in me which made me fail to appreciate him."

"No; not that," Constance denied quickly. "Not that, Henry."