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When she had gone he took up the other letter–some lawyer’s writing, and opening it with the usual difficulty, read:

“February 13, 1905.

“SIR,–Certain facts having come to my knowledge, I deem it my duty to call a special meeting of the shareholders of ‘The Island Navigation Coy.,’ to consider circumstances in connection with the purchase of Mr. Joseph Pillin’s fleet. And I give you notice that at this meeting your conduct will be called in question.

“I am, Sir,

“Yours faithfully,

“CHARLES VENTNOR. “SYLVANUS HEYTHORP,ESQ.”

Having read this missive, old Heythorp remained some minutes without stirring. Ventnor! That solicitor chap who had made himself unpleasant at the creditors’ meetings!

There are men whom a really bad bit of news at once stampedes out of all power of coherent thought and action, and men who at first simply do not take it in. Old Heythorp took it in fast enough; coming from a lawyer it was about as nasty as it could be. But, at once, with stoic wariness his old brain began casting round. What did this fellow really know? And what exactly could he do? One thing was certain; even if he knew everything, he couldn’t upset that settlement. The youngsters were all right. The old man grasped the fact that only his own position was at stake. But this was enough in all conscience; a name which had been before the public fifty odd years–income, independence, more perhaps. It would take little, seeing his age and feebleness, to make his Companies throw him over. But what had the fellow got hold of? How decide whether or no to take notice; to let him do his worst, or try and get into touch with him? And what was the fellow’s motive? He held ten shares! That would never make a man take all this trouble, and over a purchase which was really first-rate business for the Company. Yes! His conscience was quite clean. He had not betrayed his Company–on the contrary, had done it a good turn, got them four sound ships at a low price–against much opposition. That he might have done the Company a better turn, and got the ships at fifty-four thousand, did not trouble him–the six thousand was a deuced sight better employed; and he had not pocketed a penny piece himself! But the fellow’s motive? Spite? Looked like it. Spite, because he had been disappointed of his money, and defied into the bargain! H’m! If that were so, he might still be got to blow cold again. His eyes lighted on the pink note with the blue forget-me-not. It marked as it were the high water mark of what was left to him of life; and this other letter in his hand-by Jove! Low water mark! And with a deep and rumbling sigh he thought: ‘No, I’m not going to be beaten by this fellow.’

“Your bath is ready, sir.”

Crumpling the two letters into the pocket of his dressing-gown, he said:

“Help me up; and telephone to Mr. Farney to be good enough to come round.” ….

An hour later, when the secretary entered, his chairman was sitting by the fire perusing the articles of association. And, waiting for him to look up, watching the articles shaking in that thick, feeble hand, the secretary had one of those moments of philosophy not too frequent with his kind. Some said the only happy time of life was when you had no passions, nothing to hope and live for. But did you really ever reach such a stage? The old chairman, for instance, still had his passion for getting his own way, still had his prestige, and set a lot of store by it! And he said:

“Good morning, sir; I hope you’re all right in this east wind. The purchase is completed.”

“Best thing the company ever did. Have you heard from a shareholder called Ventnor. You know the man I mean?”