The　chairman　took　a　sip　of　water；　and　his　voice；　unexpectedly　loud；　broke　an　ominous　hush：
  〃Never　been　so　insulted　in　my　life。　　My　best　services　have　been　at　your　disposal　for　nineteen　years；　you　know　what　measure　of　success　this　Company　has　attained。　　I　am　the　oldest　man　here；　and　my　experience　of　shipping　is；　I　hope；　a　little　greater　than　that　of　the　two　gentlemen　who　spoke　last。　　I　have　done　my　best　for　you；　ladies　and　gentlemen；　and　we　shall　see　whether　you　are　going　to　endorse　an　indictment　of　my　judgment　and　of　my　honour；　if　I　am　to　take　the　last　speaker　seriously。　　This　purchase　is　for　your　good。　　'There　is　a　tide　in　the　affairs　of　men'and　I　for　one　am　not　content；　never　have　been；　to　stagnate。　　If　that　is　what　you　want；　however；　by　all　means　give　your　support　to　these　gentlemen　and　have　done　with　it。　　I　tell　you　freights　will　go　up　before　the　end　of　the　year；　the　purchase　is　a　sound　one；　more　than　a　sound　oneI；　at　any　rate；　stand　or　fall　by　it。　　Refuse　to　ratify　it；　if　you　like；　if　you　do；　I　shall　resign。〃
  He　sank　back　into　his　seat。　　The　secretary；　stealing　a　glance；　thought　with　a　sort　of　enthusiasm：　'Bravo！　　Who'd　have　thought　he　could　rally　his　voice　like　that？　　A　good　touch；　too；　that　about　his　honour！　　I　believe　he's　knocked　them。
  It's　still　dicky；　though；　if　that　fellow　at　the　back　gets　up　again；　the　old　chap　can't　work　that　stop　a　second　time。　　'Ah！　here　was　'old　Apple…pie'　on　his　hind　legs。　　That　was　all　right！
  〃I　do　not　hesitate　to　say　that　I　am　an　old　friend　of　the　chairman；　we　are；　many　of　us；　old　friends　of　the　chairman；　and　it　has　been　painful　to　me；　and　I　doubt　not　to　others；　to　hear　an　attack　made　on　him。　　If　he　is　old　in　body；　he　is　young　in　mental　vigour　and　courage。　　I　wish　we　were　all　as　young。　　We　ought　to　stand　by　him；　I　say；　we　ought　to　stand　by　him。〃　　（〃Hear；　hear！　　Hear；　hear！〃）　And　the　secretary　thought：　'That's　done　it！'　And　he　felt　a　sudden　odd　emotion；　watching　the　chairman　bobbing　his　body；　like　a　wooden　toy；　at　old　Appleby；　and　old　Appleby　bobbing　back。　　Then；　seeing　a　shareholder　close　to　the　door　get　up；　thought：　'Who's　that？　　I　know　his　faceAh！　　yes；　Ventnor；　the　solicitorhe's　one　of　the　chairman's　creditors　that　are　coming　again　this　afternoon。　　What　now？'
  〃I　can't　agree　that　we　ought　to　let　sentiment　interfere　with　our　judgment　in　this　matter。　　The　question　is　simply：　How　are　our　pockets　going　to　be　affected？　　I　came　here　with　some　misgivings；　but　the　attitude　of　the　chairman　has　been　such　as　to　remove　them；　and　I　shall　support　the　proposition。〃　　The　secretary　thought：　'That's　all　right　only；　he　said　it　rather　queerlyrather　queerly。'
  Then；　after　a　long　silence；　the　chairman；　without　rising；　said：
  〃I　move　the　adoption　of　the　report　and　accounts。〃
  〃I　second　that。〃
  〃Those　in　favour　signify　the　same　in　the　usual　way。　　Contrary？　Carried。〃　　The　secretary　noted　the　dissentients；　six　in　number；　and　that　Mr。　Westgate　did　not　vote。
  A　quarter　of　an　hour　later　he　stood　in　the　body　of　the　emptying　room　supplying　names　to　one　of　the　gentlemen　of　the　Press。　　The　passionless　fellow　said：　〃Haythorp；　with　an　'a'；　oh！　　an　'e'；　he　seems　an　old　man。　　Thank　you。　　I　may　have　the　slips？　　Would　you　like　to　see　a　proof？　　With　an　'a'　you　saidoh！　　an　'e。'　Good　afternoon！〃　And　the　secretary　thought：　'Those　fellows；　what　does　go　on　inside　them？　　Fancy　not　knowing　the　old　chairman　by　now！'。。。
  2
  Back　in　the　proper　office　of　〃The　Island　Navigation　Company〃　old　Heythorp　sat　smoking　a　cigar　and　smiling　like　a　purring　cat。　　He　was　dreaming　a　little　of　his　triumph；　sifting　with　his　old　brain；　still　subtle；　the　wheat　from　the　chaff　of　the　demurrers：　Westgatenothing　in　thatprofessional　discontent　till　they　silenced　him　with　a　place　on　the　boardbut　not　while　be　held　the　reins！　　That　chap　at　the　backan　ill…conditioned　fellow！　　〃Something　behind！〃　　Suspicious　brute！　　There　was　somethingbuthang　it！　they　might　think　themselves　lucky　to　get　four　ships　at　that　price；　and　all　due　to　him！　It　was　on　the　last　speaker　that　his　mind　dwelt　with　a　doubt。　　That　fellow　Ventnor；　to　whom　he　owed　moneythere　had　been　something　just　a　little　queer　about　his　toneas　much　as　to　say；　〃I　smell　a　rat。〃　Well！　one　would　see　that　at　the　creditors'　meeting　in　half　an　hour。
  〃Mr。　Pillin；　sir。〃
  〃Show　him　in！〃
  In　a　fur　coat　which　seemed　to　extinguish　his　thin　form；　Joe　Pillin　entered。　　It　was　snowing；　and　the　cold　had　nipped　and　yellowed　his　meagre　face　between　its　slight　grey　whiskering。　　He　said　thinly：
  〃How　are　you；　Sylvanus？　　Aren't　you　perished　in　this　cold？〃
  〃Warm　as　a　toast。　　Sit　down。　　Take　off　your　coat。〃
  〃Oh！　I　should　be　lost　without　it。　　You　must　have　a　fire　inside　you。　So…so　it's　gone　through？〃
  Old　Heythorp　nodded；　and　Joe　Pillin；　wandering　like　a　spirit；　scrutinised　the　shut　door。　　He　came　back　to　the　table；　and　said　in　a　low　voice：
  〃It's　a　great　sacrifice。〃
  Old　Heythorp　smiled。
  〃Have　you　signed　the　deed　poll？〃
  Producing　a　parchment　from　his　pocket　Joe　Pillin　unfolded　it　with　caution　to　disclose　his　signature；　and　said：
  〃I　don't　like　itit's　irrevocable。〃
  A　chuckle　escaped　old　Heythorp。
  〃As　death。〃
  Joe　Pillin's　voice　passed　up　into　the　treble　clef。
  〃I　can't　bear　irrevocable　things。　　I　consider　you　stampeded　me；　playing　on　my　nerves。〃
  Examining　the　signatures　old　Heythorp　murmured：
  〃Tell　your　lawyer　to　lock　it　up。　　He　must　think　you　a　sad　dog；　Joe。〃
  〃Ah！　　Suppose　on　my　death　it　comes　to　the　knowledge　of　my　wife！〃
  〃She　won't　be　able　to　make　it　hotter　for　you　than　you'll　be　already。〃
  Joe　Pillin　replaced　the　deed　within　his　coat；　emitting　a　queer　thin　noise。　　He　simply　could　not　bear　joking　on　such　subjects。
  〃Well；〃　he　said；　〃you've　got　your　way；　you　always　do。　　Who　is　this　Mrs。　Larne？　　You　oughtn't　to　keep　me　in　the　dark。　　It　seems　my　boy　met　her　at　your　house。　　You　told　me　she　didn't　come　there。〃
  Old　Heythorp　said　with　relish：
  〃Her　husband　was　my　son　by　a　woman　I　was　fond　of　before　I　married；　her　children　are　my　grandchildren。　　You've　provided　for　them。　　Best　thing　you　ever　did。〃
  〃I　don't　knowI　don't　know。　　I'm　sorry　you　told　me。　　It　makes　it　all　the　more　doubtful。　　As　soon　as　the　transfer's　complete；　I　shall　get　away　abroad。　　This　cold's　killing　me。　　I　wish　you'd　give　me　your　recipe　for　keeping　warm。〃
  〃Get　a　new　inside。〃
  Joe　Pillin　regarded　his　old　friend　with　a　sort　of　yearning。　　〃And　yet；〃　he　said；　〃I　suppose；　with　your　full…blooded　habit；　your　life　hangs　by　a　thread；　doesn't　it？〃
  〃A　stout　one；　my　boy〃
  〃Well；　good…bye；　Sylvanus。　　You're　a　Job's　comforter；　I　must　be　getting　home。〃　　He　put　on　his　hat；　and；　lost　in　his　fur　coat；　passed　out　into　the　corridor。　　On　the　stairs　he　met　a　man　who　said：
  〃How　do　you　do；　Mr。　Pillin？　　I　know　your　son。　　Been'　seeing　the　chairman？　　I　see　your　sale's　gone　through　all　right。　　I　hope　that'll　do　us　some　good；　but　I　suppose　you　think　the　other　way？〃
  Peering　at　him　from　under　his　hat；　Joe　Pillin　said：
  〃Mr。　Ventnor；　I　think？　　Thank　you！　　It's　very　cold；　isn't　it？〃　　And；　with　that　cautious　remark；　he　passed　on　down。
  Alone　again；　old　Heythorp　thought：　'By　George！　　What　a　wavering；　quavering；　thread　paper　of　a　fellow！　　What　misery　life　must　be　to　a　chap　like　that！　　He　walks　in　fearhe　wallows　in　it。　　Poor　devil！'　And　a　curious　feeling　swelled　his　heart；　of　elation；　of　lightness　such　as　he　had　not　known　for　years。　　Those　two　young　things　were　safe　now　from　penury…safe！　　After　dealing　with　those　infernal　creditors　of　his　he　would　go　round　and　have　a　look　at　the　children。　　With　a　hundred　and　twenty　a　year　the　boy　could　go　into　the　Armybest　place　for　a　young　scamp　like　that。　The　girl　would　go　off　like　hot　cakes；　of　course；　but　she　needn't　take　the　first　calf　that　came　along。　As　for　their　mother；　she　must　look　after　herself；　nothing　under　two　thousand　a　year　would　keep　her　out　of　debt。　　But　trust　her　for　wheedling　and　bluffing　her　way　out　of　any　scrape！　　Watching　his　cigar…smoke　curl　and　disperse　he　was　conscious　of　the　strain　he　had　been　under　these　last　six　weeks；　aware　suddenly　of　how　greatly　he　had　baulked　at　thought　of　to…day's　general　meeting。　Yes！　　It　might　have　turned　out　nasty。　　He　knew　well　enough　the　forces　on　the　Board；　and　off；　who　would　be　only　too　glad　to　shelve　him。　　If　he　were　shelved　here　his　other　two　Companies　would　be　sure　to　follow　suit；　and　bang　would　go　every　penny　of　his　incomehe　would　be　a　pauper　dependant　on　that　holy　woman。　　Well！　　Safe　now　for　another　year　if　he　could　stave　off　these　sharks　once　more。　　It　might　be　a　harder　job　this　time；　but　he　was　in　luckin　luck；　and　it　must　hold。　　And　taking　a　luxurious　pull　at　his　cigar；　he　rang　the　handbell。
  〃Bring　'em　in　here；　Mr。　Farney。　　And　let　me　have　a　cup　of　China　tea　as　strong　as　you　can　make　it。〃
  〃Yes；　sir。　　Will　you　see　the　proof　of　the　press　report；　or　will　you　leave　it　to　me？〃
  〃To　you。〃
  〃Yes；　sir。　　It　was　a　good　meeting；　wasn't　it？〃
  Old　Heythorp　nodded。
  〃Wonderful　how　your　voice　came　back　just　at　the　right　moment。　　I　was　afraid　things　were　going　to　be　difficult。　　The　insult　did　it；　I　think。　　It　was　a　monstrous　thing　to　say。　　I　could　have　punched　his　head。〃
  Again　old　Heythorp　nodded；　and；　looking　into　the　secretary's　fine　blue　eyes；　he　repeated：　〃Bring　'em　in。〃
  The　lonely　minute　before　the　entranc