eau。　　〃January　the　28th！〃　　No　dream！　　His　face　hardened　and　darkened。　　On！　　Not　like　Larry！　　On！
  1914。
  A　STOIC
  I
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  〃Aequam　memento　rebus　in　arduis　　　　　　　　　　　Servare　mentem：〃Horace。
  In　the　City　of　Liverpool；　on　a　January　day　of　1905；　the　Board…room　of　〃The　Island　Navigation　Company〃　rested；　as　it　were；　after　the　labours　of　the　afternoon。　　The　long　table　was　still　littered　with　the　ink；　pens；　blotting…paper；　and　abandoned　documents　of　six　personsa　deserted　battlefield　of　the　brain。　　And；　lonely；　in　his　chairman's　seat　at　the　top　end　old　Sylvanus　Heythorp　sat；　with　closed　eyes；　still　and　heavy　as　an　image。　　One　puffy；　feeble　hand；　whose　fingers　quivered；　rested　on　the　arm　of　his　chair；　the　thick　white　hair　on　his　massive　head　glistened　in　the　light　from　a　green…shaded　lamp。　　He　was　not　asleep；　for　every　now　and　then　his　sanguine　cheeks　filled；　and　a　sound；　half　sigh；　half　grunt；　escaped　his　thick　lips　between　a　white　moustache　and　the　tiny　tuft　of　white　hairs　above　his　cleft　chin。　Sunk　in　the　chair；　that　square　thick　trunk　of　a　body　in　short　black…　braided　coat　seemed　divested　of　all　neck。
  Young　Gilbert　Farney；　secretary　of　〃The　Island　Navigation　Company；〃　entering　his　hushed　Board…room；　stepped　briskly　to　the　table；　gathered　some　papers；　and　stood　looking　at　his　chairman。　　Not　more　than　thirty…five；　with　the　bright　hues　of　the　optimist　in　his　hair；　beard；　cheeks；　and　eyes；　he　had　a　nose　and　lips　which　curled　ironically。　　For；　in　his　view；　he　was　the　Company；　and　its　Board　did　but　exist　to　chequer　his　importance。　　Five　days　in　the　week　for　seven　hours　a　day　he　wrote；　and　thought；　and　wove　the　threads　of　its　business；　and　this　lot　came　down　once　a　week　for　two　or　three　hours；　and　taught　their　grandmother　to　suck　eggs。　　But　watching　that　red…　cheeked；　white…haired；　somnolent　figure；　his　smile　was　not　so　contemptuous　as　might　have　been　expected。　　For　after　all；　the　chairman　was　a　wonderful　old　boy。　　A　man　of　go　and　insight　could　not　but　respect　him。　　Eighty！　　Half　paralysed；　over　head　and　ears　in　debt；　having　gone　the　pace　all　his　lifeor　so　they　said！till　at　last　that　mine　in　Ecuador　had　done　for　himbefore　the　secretary's　day；　of　course；　but　he　had　heard　of　it。　　The　old　chap　had　bought　it　up　on　spec'〃de　l'audace；　toujours　de　l'audace；〃　as　he　was　so　fond　of　sayingpaid　for　it　half　in　cash　and　half　in　promises；　and　then　the　thing　had　turned　out　empty；　and　left　him　with　L20；000　worth　of　the　old　shares　unredeemed。　　The　old　boy　had　weathered　it　out　without　a　bankruptcy　so　far。　　Indomitable　old　buffer；　and　never　fussy　like　the　rest　of　them！　　Young　Farney；　though　a　secretary；　was　capable　of　attachment；　and　his　eyes　expressed　a　pitying　affection。　　The　Board　meeting　had　been　long　and　〃snadgy〃a　final　settling　of　that　Pillin　business。　　Rum　go　the　chairman　forcing　it　on　them　like　this！　　And　with　quiet　satisfaction　the　secretary　thought　'And　he　never　would　have　got　it　through　if　I　hadn't　made　up　my　mind　that　it　really　is　good　business！'　　For　to　expand　the　company　was　to　expand　himself。　Still；　to　buy　four　ships　with　the　freight　market　so　depressed　was　a　bit　startling；　and　there　would　be　opposition　at　the　general　meeting。　Never　mind！　　He　and　the　chairman　could　put　it　throughput　it　through。　　And　suddenly　he　saw　the　old　man　looking　at　him。
  Only　from　those　eyes　could　one　appreciate　the　strength　of　life　yet　flowing　underground　in　that　well…nigh　helpless　carcasedeep…coloured　little　blue　wells；　tiny；　jovial；　round　windows。
  A　sigh　travelled　up　through　layers　of　flesh；　and　he　said　almost　inaudibly：
  〃Have　they　come；　Mr。　Farney？〃
  〃Yes；　sir。　　I've　put　them　in　the　transfer　office；　said　you'd　be　with　them　in　a　minute；　but　I　wasn't　going　to　wake　you。〃
  〃Haven't　been　asleep。　　Help　me　up。〃
  Grasping　the　edge　of　the　table　with　his　trembling　hands；　the　old　man　pulled；　and；　with　Farney　heaving　him　behind；　attained　his　feet。　　He　stood　about　five　feet　ten；　and　weighed　fully　fourteen　stone；　not　corpulent；　but　very　thick　all　through；　his　round　and　massive　head　alone　would　have　outweighed　a　baby。　　With　eyes　shut；　he　seemed　to　be　trying　to　get　the　better　of　his　own　weight；　then　he　moved　with　the　slowness　of　a　barnacle　towards　the　door。　　The　secretary；　watching　him；　thought：　'Marvellous　old　chap！　　How　he　gets　about　by　himself　is　a　miracle！　　And　he　can't　retire；　they　say…lives　on　his　fees！'
  But　the　chairman　was　through　the　green　baize　door。　　At　his　tortoise　gait　he　traversed　the　inner　office；　where　the　youthful　clerks　suspended　their　figuringto　grin　behind　his　backand　entered　the　transfer　office；　where　eight　gentlemen　were　sitting。　　Seven　rose；　and　one　did　not。　　Old　Heythorp　raised　a　saluting　hand　to　the　level　of　his　chest　and　moving　to　an　arm…chair；　lowered　himself　into　it。
  〃Well；　gentlemen？〃
  One　of　the　eight　gentlemen　got　up　again。
  〃Mr。　Heythorp；　we've　appointed　Mr。　Brownbee　to　voice　our　views。　　Mr。　Brownbee！〃　　And　down　he　sat。
  Mr。　Brownbee　rose　a　stoutish　man　some　seventy　years　of　age；　with　little　grey　side　whiskers；　and　one　of　those　utterly　steady　faces　only　to　be　seen　in　England；　faces　which　convey　the　sense　of　business　from　father　to　son　for　generations；　faces　which　make　wars；　and　passion；　and　free　thought　seem　equally　incredible；　faces　which　inspire　confidence；　and　awaken　in　one　a　desire　to　get　up　and　leave　the　room。　Mr。　Brownbee　rose；　and　said　in　a　suave　voice：
  〃Mr。　Heythorp；　we　here　represent　about　L14；000。　　When　we　had　the　pleasure　of　meeting　you　last　July；　you　will　recollect　that　you　held　out　a　prospect　of　some　more　satisfactory　arrangement　by　Christmas。　We　are　now　in　January；　and　I　am　bound　to　say　we　none　of　us　get　younger。〃
  》From　the　depths　of　old　Heythorp　a　preliminary　rumble　came　travelling；　reached　the　surface；　and　materialised
  〃Don't　know　about　youfeel　a　boy；　myself。〃
  The　eight　gentlemen　looked　at　him。　　Was　he　going　to　try　and　put　them　off　again？　　Mr。　Brownbee　said　with　unruffled　calm：
  〃I'm　sure　we're　very　glad　to　hear　it。　　But　to　come　to　the　point。　　We　have　felt；　Mr。　Heythorp；　and　I'm　sure　you　won't　think　it　unreasonable；　thaterbankruptcy　would　be　the　most　satisfactory　solution。　　We　have　waited　a　long　time；　and　we　want　to　know　definitely　where　we　stand；　for；　to　be　quite　frank；　we　don't　see　any　prospect　of　improvement；　indeed；　we　fear　the　opposite。〃
  〃You　think　I'm　going　to　join　the　majority。〃
  This　plumping　out　of　what　was　at　the　back　of　their　minds　produced　in　Mr。　Brownbee　and　his　colleagues　a　sort　of　chemical　disturbance。　　They　coughed；　moved　their　feet；　and　turned　away　their　eyes；　till　the　one　who　had　not　risen；　a　solicitor　named　Ventnor；　said　bluffly：
  〃Well；　put　it　that　way　if　you　like。〃
  Old　Heythorp's　little　deep　eyes　twinkled。
  〃My　grandfather　lived　to　be　a　hundred；　my　father　ninety…sixboth　of　them　rips。　　I'm　only　eighty；　gentlemen；　blameless　life　compared　with　theirs。〃
  〃Indeed；〃　Mr。　Brownbee　said；　〃we　hope　you　have　many　years　of　this　life　before　you。〃
  〃More　of　this　than　of　another。〃　　And　a　silence　fell；　till　old　Heythorp　added：　〃You're　getting　a　thousand　a　year　out　of　my　fees。　Mistake　to　kill　the　goose　that　lays　the　golden　eggs。　　I'll　make　it　twelve　hundred。　　If　you　force　me　to　resign　my　directorships　by　bankruptcy；　you　won't　get　a　rap；　you　know。〃
  Mr。　Brownbee　cleared　his　throat：
  〃We　think；　Mr。　Heythorp；　you　should　make　it　at　least　fifteen　hundred。　In　that　case　we　might　perhaps　consider〃
  Old　Heythorp　shook　his　head。
  〃We　can　hardly　accept　your　assertion　that　we　should　get　nothing　in　the　event　of　bankruptcy。　　We　fancy　you　greatly　underrate　the　possibilities。　　Fifteen　hundred　a　year　is　the　least　you　can　do　for　us。〃
  〃See　you　d…d　first。〃
  Another　silence　followed；　then　Ventnor；　the　solicitor；　said　irascibly：
  〃We　know　where　we　are；　then。〃
  Brownbee　added　almost　nervously：
  〃Are　we　to　understand　that　twelve　hundred　a　year　is　youryour　last　word？〃
  Old　Heythorp　nodded。　　〃Come　again　this　day　month；　and　I'll　see　what　I　can　do　for　you；〃　and　he　shut　his　eyes。
  Round　Mr。　Brownbee　six　of　the　gentlemen　gathered；　speaking　in　low　voices；　Mr。　Ventnor　nursed　a　leg　and　glowered　at　old　Heythorp；　who　sat　with　his　eyes　closed。　　Mr。　Brownbee　went　over　and　conferred　with　Mr。　Ventnor；　then　clearing　his　throat；　he　said：
  〃Well；　sir；　we　have　considered　your　proposal；　we　agree　to　accept　it　for　the　moment。　　We　will　come　again；　as　you　suggest；　in　a　month's　time。
  We　hope　that　you　will　by　then　have　seen　your　way　to　something　more　substantial；　with　a　view　to　avoiding　what　we　should　all　regret；　but　which　I　fear　will　otherwise　become　inevitable。〃
  Old　Heythorp　nodded。　　The　eight　gentlemen　took　their　hats；　and　went　out　one　by　one；　Mr。　Brownbee　courteously　bringing　up　the　rear。
  The　old　man；　who　could　not　get　up　without　assistance；　stayed　musing　in　his　chair。　　He　had　diddled　'em　for　the　moment　into　giving　him　another　month；　and　when　that　month　was　up…he　would　diddle　'em　again！　A　month　ought　to　make　the　Pillin　business　safe；　with　all　that　hung　on　it。　　That　poor　funkey　chap　Joe　Pillin！　　A　gurgling　chuckle　escaped　his　red　lips。　　What　a　shadow　the　fellow　had　looked；　trotting　in　that　evening　just　a　month　ago；　behind　his　valet's　announcement：　〃Mr。　Pillin；　sir。〃
  What　a　parchmenty；　precise；　thread…paper　of　a　chap；　with　his　bird's　claw　of　a　hand；　and　his　muffled…up