and redhaired, treating his white-haired, withered companion with fatherly indulgence; the other glancing up from time to time into Clodd’s face with a winning expression of infantile affection.

“We are getting much better,” explained Clodd, the pair meeting Peter Hope one day at the corner of Newcastle Street. “The more we are out in the open air, and the more we have to do and think about, the better for us—eh?”

The mild-looking little old gentleman hanging on Clodd’s arm smiled and nodded.

“Between ourselves,” added Mr. Clodd, sinking his voice, “we are not half as foolish as folks think we are.”

Peter Hope went his way down the Strand.

“Clodd’s a good sort—a good sort,” said Peter Hope, who, having in his time lived much alone, had fallen into the habit of speaking his thoughts aloud; “but he’s not the man to waste his time. I wonder.”

With the winter Clodd’s Lunatic fell ill.

Clodd bustled round to Chancery Lane.

“To tell you the truth,” confessed Mr. Gladman, “we never thought he would live so long as he has.”

“There’s the annuity you’ve got to think of,” said Clodd, whom his admirers of to-day (and they are many, for he must be a millionaire by this time) are fond of alluding to as “that frank, outspoken Englishman.” “Wouldn’t it be worth your while to try what taking him away from the fogs might do for him?”

Old Gladman seemed inclined to consider the question, but Mrs. Gladman, a brisk, cheerful little woman, had made up her mind.

“We’ve had what there is to have,” said Mrs. Gladman. “He’s seventy-three. What’s the sense of risking good money? Be content.”

No one could say—no one ever did say—that Clodd, under the circumstances, did not do his best. Perhaps, after all, nothing could have helped. The little old gentleman, at Clodd’s suggestion, played at being a dormouse and lay very still. If he grew restless, thereby bringing on his cough, Clodd, as a terrible black cat, was watching to pounce upon him. Only by keeping very quiet and artfully pretending to be asleep could he hope to escape the ruthless Clodd.

Doctor William Smith (né Wilhelm Schmidt) shrugged his fat shoulders. “We can do noding. Dese fogs of ours: id is de one ting dat enables the foreigner to crow over us. Keep him quiet. De dormouse—id is a goot idea.”

That evening William Clodd mounted to the second floor of 16, Gough Square, where dwelt his friend, Peter Hope, and knocked briskly at the door.

“Come in,” said a decided voice, which was not Peter Hope’s.

Mr. William Clodd’s ambition was, and always had been, to be the owner or part-owner of a paper. To- day, as I have said, he owns a quarter of a hundred, and is in negotiation, so rumour goes, for seven more. But twenty years ago “Clodd and Co., Limited,” was but in embryo. And Peter Hope, journalist, had likewise and for many a long year cherished the ambition to be, before he died, the owner or part- owner of a paper. Peter Hope to-day owns nothing, except perhaps the knowledge, if such things be permitted, that whenever and wherever his name is mentioned, kind thoughts arise unbidden—that someone of the party will surely say: “Dear old Peter! What a good fellow he was!” Which also may be in its way a valuable possession: who knows? But twenty years ago Peter’s horizon was limited by Fleet Street.