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He struggled into his coat, and gave his hair an impatient brush with a note-book.

“There’s just one other thing,” said Roland. “I have been a regular reader of ‘Squibs’ for some time, and I particularly admire the way in which the Woman’s Page—-“

“You mean you want to reengage the editress? Rather. You couldn’t do better. I was going to suggest it myself. Now, come along quick before you change your mind or wake up.”

Within a very few days of becoming sole proprietor of ‘Squibs,’ Roland began to feel much as a man might who, a novice at the art of steering cars, should find himself at the wheel of a runaway motor. Young Mr. Petheram had spoken nothing less than the truth when he had said that he was full of ideas for booming the paper. The infusion of capital into the business acted on him like a powerful stimulant. He exuded ideas at every pore.

Roland’s first notion had been to engage a staff of contributors. He was under the impression that contributors were the life-blood of a weekly journal. Mr. Petheram corrected this view. He consented to the purchase of a lurid serial story, but that was the last concession he made. Nobody could accuse Mr. Petheram of lack of energy. He was willing, even anxious, to write the whole paper himself, with the exception of the Woman’s Page, now brightly conducted once more by Miss March. What he wanted Roland to concentrate himself upon was the supplying of capital for ingenious advertising schemes.

“How would it be,” he asked one morning–he always began his remarks with, “How would it be?”–“if we paid a man to walk down Piccadilly in white skin-tights with the word ‘Squibs’ painted in red letters across his chest?”

Roland thought it would certainly not be.

“Good sound advertising stunt,” urged Mr. Petheram. “You don’t like it? All right. You’re the boss. Well, how would it be to have a squad of men dressed as Zulus with white shields bearing the legend ‘Squibs?’ See what I mean? Have them sprinting along the Strand shouting, ‘Wah! Wah! Wah! Buy it! Buy it!’ It would make people talk.”

Roland emerged from these interviews with his skin crawling with modest apprehension. His was a retiring nature, and the thought of Zulus sprinting down the Strand shouting “Wah! Wah! Wah! Buy it! Buy it!” with reference to his personal property appalled him.

He was beginning now heartily to regret having bought the paper, as he generally regretted every definite step which he took. The glow of romance which had sustained him during the preliminary negotiations had faded entirely. A girl has to be possessed of unusual charm to continue to captivate B, when she makes it plain daily that her heart is the exclusive property of A; and Roland had long since ceased to cherish any delusion that Bessie March was ever likely to feel anything but a mild liking for him. Young Mr. Petheram had obviously staked out an indisputable claim. Her attitude toward him was that of an affectionate devotee toward a high priest. One morning, entering the office unexpectedly, Roland found her kissing the top of Mr. Petheram’s head; and from that moment his interest in the fortunes of ‘Squibs’ sank to zero. It amazed him that he could ever have been idiot enough to have allowed himself to be entangled in this insane venture for the sake of an insignificant-looking bit of a girl with a snub-nose and a poor complexion.

What particularly galled him was the fact that he was throwing away good cash for nothing. It was true that his capital was more than equal to the, on the whole, modest demands of the paper, but that did not alter the fact that he was wasting money. Mr. Petheram always talked buoyantly about turning the corner, but the corner always seemed just as far off.

The old idea of flight, to which he invariably had recourse in any crisis, came upon Roland with irresistible force. He packed a bag, and went to Paris. There, in the discomforts of life in a foreign country, he contrived for a month to forget his white elephant.