the credit of the trust one hundred and fifty thousand dollars, or double the original capital. In the following year the bank suspended payment."

CHAPTER II.

In an instant the whole situation and his relations to it flashed upon Paul with a terrible, but almost grotesque, completeness. Here he was, at the outset of his career, responsible for the wasted fortune of the daughter of a social outcast, and saddled with her support! He now knew why Colonel Pendleton had wished to see him; for one shameful moment he believed he also knew why he had been content to take his proxy! The questionable character of the whole transaction, his own carelessness, which sprang from that very confidence and trust that Pendleton had lately extolled—what WOULD, what COULD not be made of it! He already heard himself abused by his opponents—perhaps, more terrible still, faintly excused by his friends. All this was visible in his pale face and flashing eyes as he turned them on the helpless invalid.

Colonel Pendleton received his look with the same critical, half-curious scrutiny that had accompanied his speech. At last his face changed slightly, a faint look of disappointment crossed his eyes, and a sardonic smile deepened the lines of his mouth.

"There, sir," he said hurriedly, as if dismissing an unpleasant revelation; "don't alarm yourself! Take a drink of that whiskey. You look pale. Well; turn your eyes on those walls. You don't see any of that money laid out here—do you? Look at me. I don't look like a man enriched with other people's money—do I? Well, let that content you. Every dollar of that Trust fund, Hathaway, with all the interests and profits that have accrued to it, is SAFE! Every cent of it is locked up in government bonds with Rothschild's agent. There are the receipts, dated a week before the bank suspended. But enough of THAT—THAT isn't what I asked you to come and see me for."

The blood had rushed back to Paul's cheeks uncomfortably. He saw now, as impulsively as he had previously suspected his co-trustee, that the man had probably ruined himself to save the Trust. He stammered that he had not questioned the management of the fund nor asked to withdraw his proxy.

"No matter, sir," said the colonel, impatiently; "you had the right, and I suppose," he added with half-concealed scorn, "it was your duty. But let that pass. The money is safe enough; but, Mr. Hathaway,—and this is the point I want to discuss with you,—it begins to look as if the SECRET was safe no longer!" He had raised himself with some pain and difficulty to draw nearer to Paul, and had again fixed his eyes eagerly upon him. But Paul's responsive glance was so vague that he added quickly, "You understand, sir; I believe that there are hounds—I say hounds!—who would be able to blurt out at any moment that that girl at Santa Clara is Kate Howard's daughter."

At any other moment Paul might have questioned the gravity of any such contingency, but the terrible earnestness of the speaker, his dominant tone, and a certain respect which had lately sprung up in his breast for him, checked him, and he only asked with as much concern as he could master for the moment:—

"What makes you think so?"

"That's what I want to tell you, Hathaway, and how I, and I alone, am responsible for it. When the bank was in difficulty and I made up my mind to guard the Trust with my own personal and private capital, I knew that there might be some comment on my action. It was a delicate matter to show any preference or exclusion at such a moment, and I took two or three of my brother directors whom I thought I could trust into my confidence. I told them the whole story, and how the Trust was sacred. I made a mistake, sir," continued Pendleton sardonically, "a grave mistake. I did not take into account that even in three years civilization and religion had gained ground here. There was a hound there—a blank Judas in the Trust. Well; he didn't see it. I think he talked Scripture and morality. He said something about the wages of sin being infamous, and only worthy of confiscation. He talked about the sins of the father being visited upon the children, and justly. I stopped him. Well! Do you know what's the matter with my ankle? Look!" He stopped and, with some difficulty and invincible gravity, throwing aside his dressing-gown, turned down his stocking, and exposed to Paul's gaze the healed cicatrix of an old bullet-wound. "Troubled me damnably near a year. Where I hit HIM—hasn't troubled him at all since!

"I think," continued the colonel, falling back upon the pillow with an air of relief, "that he told others—of his own kidney, sir,—though it was a secret among gentlemen. But they have preferred to be silent now—than AFTERWARDS. They know that I'm ready. But I can't keep this up long; some time, you know, they're bound to improve in practice and hit higher up! As far as I'm concerned," he added, with a grim glance around the faded walls and threadbare furniture, "it don't mind; but mine isn't the mouth to be stopped." He paused, and then abruptly, yet with a sudden and pathetic dropping of his dominant note, said: "Hathaway, you're young, and Hammersley liked you—what's to be done? I thought of passing over my tools to you. You can shoot, and I hear you HAVE. But the h—l of it is that if you dropped a man or two people would ask WHY, and want to know what it was about; while, when I do, nobody here thinks it anything but MY WAY! I don't mean that it would hurt you with the crowd to wipe out one or two of these hounds during the canvass, but the trouble is that they belong to YOUR PARTY, and," he added grimly, "that wouldn't help your career."

"But," said Paul, ignoring the sarcasm, "are you not magnifying the effect of a disclosure? The girl is an heiress, excellently brought up. Who will bother about the antecedents of the mother, who has disappeared, whom she never knew, and who is legally dead to her?"

"In my day, sir, no one who knew the circumstances," returned the colonel, quickly. "But we are living in a blessed era of Christian retribution and civilized propriety, and I believe there are a lot of men and women about who have no other way of showing their own virtue than by showing up another's vice. We're in a reaction of reform. It's the old drunkards who are always more clamorous for total abstinence than the moderately temperate. I tell you, Hathaway, there couldn't be an unluckier moment for our secret coming out."

"But she will be of age soon."

"In two months."

"And sure to marry."

"Marry!" repeated Pendleton, with grim irony. "Would YOU marry her?"

"That's another question," said the young man, promptly, "and one of individual taste; but it does not affect my general belief that she could easily find a husband as good and better."

"Suppose she found one BEFORE the secret is out. Ought he be told?"

"Certainly."

"And that would imply telling HER?"

"Yes," said Paul, but not so promptly. "And you consider THAT fulfilling the promise of the Trust—the pledges exchanged with that woman?" continued Pendleton, with glittering eyes and a return to his own dominant tone.

"My dear colonel," said Paul, somewhat less positively, but still smiling, "you have made a romantic, almost impossible compact with Mrs. Howard that, you yourself are now obliged to admit, circumstances may prevent your carrying out substantially. You forget, also, that you have just told me that you have already broken your pledge—under circumstances, it is true, that do you honor—and that now your desperate attempts to retrieve it have failed. Now, I really see nothing wrong in your telling to a presumptive well-wisher of the girl what you have told to her enemy."

There was a dead silence. The prostrate man uttered a slight groan, as if in pain, and drew up his leg to change his position. After a pause, he said, in a restrained voice, "I differ from you, Mr.