the possibility of pursuit. After which, he resumed his seat at his desk, and lighting his pipe, leaned back thoughtfully in his chair, and began to consider at his leisure the strange scene which he had just witnessed in the gallery. A more imaginative man might perhaps have wondered if his eyes had not deceived him, but Bellingham, being of a prosaic and matter-of-fact disposition, did not dream of questioning the evidence of his senses. Yet to solve the riddle of his employer's conduct was a problem which was wholly beyond him, and although various vague conjectures suggested themselves to his mind, he immediately dismissed them as being too improbable to be worthy of consideration. Drink could not be the answer, nor could drugs, for Marshall Hamilton, although a man of more than middle age, was aggressively healthy, with a body of iron and nerves of steel. Intrigue seemed to the secretary to be a more plausible explanation, and yet scarcely a likely one, for the banker's devotion to his invalid wife, and his affection for his daughter and for his little boy were unmistakably genuine and sincere. More probable appeared the supposition that the sliding panel might be the entrance to a vault, where the capitalist could keep important documents and securities. But whatever the secret might be, the secretary felt certain that it was on no slight and trivial errand that the banker had visited the gallery, for in the three years during which he had served his employer he had long ago discovered that Hamilton's huge responsibilities made his outlook upon life essentially a serious one. And while it was quite possible that if someone else, of lesser interests and of greater leisure, had thus vanished through a wall, the incident might have seemed frivolous and amusing; yet where Marshall Hamilton was the man in question, Bellingham felt that the occurrence was of genuine significance. All his efforts to solve the mystery, however, were in vain, and presently realizing that he was accomplishing nothing, and that his correspondence was still unfinished, he came to the sensible conclusion that he was wasting his time, and accordingly set to work upon his task and a couple of hours later had completed it, just as Martin, the butler, knocked at the door and entered to leave the afternoon papers upon the secretary's desk.

Bellingham thanked him, and at the same time advanced a chair and pushed a box of cigars across the desk, for Martin's personality, and his position in the Hamilton household, were both distinctly out of the ordinary. Tall and smooth-shaven, with a keen and penetrating eye, there was something in his appearance suggestive of the ministry; yet this impression was a false and misleading one, for while it was true that the butler had interests and aspirations far beyond his station, yet these interests were the very reverse of ecclesiastical. The stock market, the wheat pit, the cotton exchange--these were the absorbing passions of his life; his ears, sharp as those of a fox, were trained to lose no word that fell, at table, from the lips of his master and his master's friends; and whether it was owing to this, or to natural shrewdness on his part, his ventures had prospered so amazingly that he occupied a position in the eyes of his fellow-servants almost as dignified and exalted as that of his master in Wall Street.

Now, with a respectful inclination of his head, he seated himself, helped himself to a cigar, and in answer to the secretary's question, "Well, what's new, Martin?" he answered, "Stocks were very strong to-day, sir. Steel crossed one hundred and twenty-nine."

"The devil!" exclaimed Bellingham. "You don't mean it!" And forthwith turned eagerly to the papers, for while in his present impoverished condition he had no personal interest in the market's ups and downs, yet in the atmosphere of finance in which he lived it was part of his duty to have at his fingers' ends the daily fluctuations in cotton, stocks and grain. For some moments he studied the pages of the Journal in silence; then handed the paper to Martin, observing, "Well, you're right. And there's the explanation, too."

The butler took the paper from Bellingham's hand, and read, in staring headlines, at the top of the page, "Bull market continues. Marshall Hamilton and Cyrus McKay both said to favor the advance. Steel booked for two hundred."

Martin's eyes glistened. "Mr. Bellingham," he asked earnestly, "do you imagine, sir, that this is true?"

The secretary, with the unbiassed mind of the man who has no stake in the game, meditated for a moment, then answered truthfully, "My dear Martin, I haven't the remotest idea whether it's true or not."

The butler looked visibly disappointed. "If you happen to hear anything, sir," he said in a tone so low that it was almost a whisper, "you know what I mean, sir--any letters or telegrams--I should be most grateful if you'd remember me, sir."

Bellingham nodded. "I'll be glad to," he answered, with just the suggestion of a smile, for the combination of Martin the decorous servant and Martin the eager speculator was one which never failed to amuse him. Then, impelled by mere curiosity, he added, "Which is it this time, Martin? Are you long or short?"

The butler's face was impassive, but his voice was eager with the irrepressible passion of the gambler. "I'm short, sir," he answered. "Quite heavily short. I have every reason to believe, Mr. Bellingham, that we are going to see a severe decline in the market. Unusually severe, sir. But of course I may be wrong."

Bellingham glanced at the papers with renewed interest, running his eye up and down the narrow columns of figures which summarized, in this brief space, the prosperity or the adversity of the entire world. "They're awfully strong," he commented, "and the gains run through the list, too. Locomotive is up four, Crucible three and a half, Steel five. And the rails are strong, too. By Jove, Martin, I believe you are wrong. Be careful you don't come a cropper. Have you any real reason for thinking the market isn't going up?"

"Why, sir," the butler answered, "you may remember that about three months ago it was generally supposed that we were on the brink of a panic. But I am confident that at that time Mr. Hamilton and Mr. McKay and the other gentlemen were buying very heavily indeed. And if that is so, sir, why it hardly seems probable that they would be adding to their purchases now, when stocks are thirty or forty points higher than they were then. In fact, sir, if it's not an impertinence upon my part, I think that if you were to sell Steel short on a scale up--"

But Bellingham interrupted him. "My dear Martin," he observed with a smile, "when a man has dallied with the market all his life, as I have, and suddenly ceases either to buy or to sell, there is usually just one answer," and raising his hand, he formed, with thumb and forefinger the figure zero.

The butler flushed. "I beg your pardon, sir," he said hastily. "I didn't intend--I meant it in a friendly way, sir--"

"Of course you did," Bellingham good-naturedly interposed, "and I appreciate your tip, Martin. I'm only sorry I can't take advantage of it, but I hope you make a million. Oh, and by the way," he added, as the butler rose to go, "would you mind telephoning Saunders to saddle the bay mare? I'll be over right away."

Ten minutes later, on his way to the stables, he met Helen. Hamilton returning from the garden, her arms heaped high with flowers.

"You're not forgetting our golf?" she asked. "Miss Wilton said that you would play."

"Yes, indeed," he answered, "I'm only going for a turn. I'll be back in plenty of time." And as he continued on his way, he found himself thinking, as he had done a hundred times before, that his