"Of course not," answered my employer, with contemptuous impatience of my dulness; "but my brother Phil is not the man to wait for legal power. His ideas will be Miss Halliday's ideas in this business. When my case is ripe for action, I shall make my bargain—half the fortune to be mine from the day of its recovery. A deed containing these conditions must be executed by Charlotte Halliday before I hand over a single document relating to the case. Now, as matters stand at present," he went on, looking very fixedly at me, "her execution of that deed would rest with Philip."

"And when shall you make your overtures to Mr. Sheldon?" I asked, at a loss to understand that intent look.

"Not until the last links of the chain are put together. Not before I'm ready to make my first move on the Chancellor's chessboard. Perhaps not at all."

"How do you mean?"

"If I can tide over for a little time, I may throw Philip overboard altogether, and get some one else to manage Miss Halliday for me."

"What do you mean?"

"I'll tell you, Hawkehurst," answered my patron, resting his elbows on the table by which we were sitting, and looking me through with those penetrating black eyes of his. "My brother Phil played me a shabby trick a few years ago, which I have not forgotten or forgiven. So I shouldn't mind paying him out in some of his own coin. Beyond which, I tell you again, I don't like the idea of his having a finger in this business. Where that kind of man's finger can go, his whole hand will follow; and if once that hand fastens on John Haygarth's money, it'll be bad times for you and me. Miss Halliday counts for exactly nothing in my way of reckoning. If her stepfather told her to sign away half a million, she'd scribble her name at the bottom of the paper, and press her pretty little thumb upon the wafer, without asking a single question as to the significance of the document. And, of course, she'd be still less inclined to make objections if it was her husband who asked her to execute the deed. Aha! my young friend, how is it you grow first red and then white when I mention Miss Halliday's husband?"

I have no doubt that I did indeed blanch when that portentous word was uttered in conjunction with my darling's name. Mr. Sheldon leant a little further across the table, and his hard black eyes penetrated a little deeper into the recesses of my foolish heart.

"Valentine Hawkehurst," he said, "shall we throw my brother Phil overboard altogether? Shall you and I go shares in this fortune?"

"Upon my word and honour I don't understand you," I said, in all sincerity.