young man of twenty-six, with perhaps not so good an opinion of women as he had now, for a man's opinion of women always alters, one way or another, as he grows older.

Katty, at eighteen, had enjoyed playing on the cautious, judgematical Godfrey's emotions. So well had she succeeded that at one time he could hardly let a day go by without trying to see and to be with her alone. But, though strongly attracted by her instinctive, girlish wiles, he was also, quite unknowingly to her, repelled by those same wiles.

Poor Katty had made herself, in those days that now seemed to both of them so very, very long ago, a little too cheap. Her admirer, to use a good old word, knew that her appeal was to a side of his nature which it behooved him to keep in check, if he was not "to make a fool of himself." And so, just when their little world--kindly, malicious, censorious, as the case might be--was expecting to hear of their engagement, Godfrey Pavely suddenly left Pewsbury to spend a year in a great Paris discount house.

The now staid country banker did not look back with any pride or pleasure to that year in France; he had worked, but he had also ignobly played, spending, rather joylessly, a great deal of money in the process. Then, having secretly sown his wild oats, he had come home and settled down to a further time of banking apprenticeship in London, before taking over the sound family business.

Almost at once, on his return to England, he had made up his mind to marry the beautiful, reserved, then pathetically young Laura Baynton, who was so constantly with Mrs. Tropenell at Freshley Manor.

Time went on, and Laura held out; but little by little, perhaps because he saw her so seldom, he broke down her resistance. His father had bought the Lawford Chase estate as a great bargain, many years before, and had been content to let it on a long lease. Godfrey, on becoming his own master at thirty, determined to live there, and his marriage to Laura followed a year later.

During their honeymoon in Paris--a honeymoon which was curiously and painfully unlike what Godfrey had supposed his honeymoon would and must be--he saw in a paper a notice of Katty Fenton's engagement. Though not given to impulsively generous actions, he went out and bought for Katty, in the Rue de la Paix, a jeweled pendant Laura had just refused to allow him to buy for her. In return, he had received what had seemed at the time a delightful letter of thanks, to which was the following postscript, "There's no harm in 

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