you showed it to me. There's nothing to be done! I suppose it's the work of some clerk whom you've dismissed in the last few weeks?" "I've dismissed no one," said Pavely shortly. Somehow Tropenell was not taking this disagreeable business quite as he had meant him to take it. In a rather different voice Oliver went on: "Show me the letter again. I want to see if there's a date to it." "It arrived exactly three weeks ago to-day," said Pavely slowly, "and it was posted in Pewsbury." Light broke in on Tropenell. This, then, was why Godfrey had taken to coming home at such odd hours, and why he had telephoned several times from the Bank, sending messages to Laura, and, on at least one occasion, a message to Tropenell himself! He set his lips tightly together, and a flood of bitter wrath welled up from his heart. "Then in my place you would do nothing?" asked Godfrey uncertainly. More and more he was disappointed in the other's attitude. He had thought Oliver would suggest something which might be useful, or at any rate laugh the matter off. But Oliver only looked grim--grim and angry. "I don't see that you can do anything. It isn't the sort of thing about which you would care to go to the local police, and even if you knew who wrote that infamous scrawl I don't see how you could take action. We can't have Laura's name dragged into this kind of business."Then he asked in a lower voice, "Have you said anything to her?" The other shook his head. "I've no intention of saying anything to Laura. It would distress and disgust her very much." He was glad to see that Oliver, hearing these words, looked very much relieved. They walked on a few paces, and then Godfrey exclaimed, "There's one thing I do think, Oliver--and I hope you won't be angry with me for saying it! It must be admitted that you've been a great deal at The Chase alone with Laura, and also, unfortunately, that that sort of thing always does make talk in a country town." Tropenell turned on him sternly: "What sort of thing?" he asked. "I swear before God that there has never been anything in my attitude to Laura which should give the slightest rise to comment, or afford the basest scandalmonger excuse for a word." And he believed every word of what he said. "I know that--I know that, my dear fellow!" Godfrey put his hand out, and for a moment it lay heavily on his friend's shoulder. But quickly, silently,