opera-glasses critically on the circle of ladies who were the product of the system. In matters intellectual and artistic Newland Archer felt himself distinctly the superior of these chosen specimens of old New York gentility; he had probably read more, thought more, and even seen a good deal more of the world, than any other man of the number. Singly they betrayed their inferiority; but grouped together they represented "New York," and the habit of masculine solidarity made him accept their doctrine on all the issues called moral. He instinctively felt that in this respect it would be troublesome—and also rather bad form—to strike out for himself. "Well—upon my soul!" exclaimed Lawrence Lefferts, turning his opera-glass abruptly away from the stage. Lawrence Lefferts was, on the whole, the foremost authority on "form" in New York. He had probably devoted more time than any one else to the study of this intricate and fascinating question; but study alone could not account for his complete and easy competence. One had only to look at him, from the slant of his bald forehead and the curve of his beautiful fair moustache to the long patent-leather feet at the other end of his lean and elegant person, to feel that the knowledge of "form" must be congenital in any one who knew how to wear such good clothes so carelessly and carry such height with so much lounging grace. As a young admirer had once said of him: "If anybody can tell a fellow just when to wear a black tie with evening clothes and when not to, it's Larry Lefferts." And on the question of pumps versus patent-leather "Oxfords" his authority had never been disputed. "My God!" he said; and silently handed his glass to old Sillerton Jackson. Newland Archer, following Lefferts's glance, saw with surprise that his exclamation had been occasioned by the entry of a new figure into old Mrs. Mingott's box. It was that of a slim young woman, a little less tall than May Welland, with brown hair growing in close curls about her temples and held in place by a narrow band of diamonds. The suggestion of this headdress, which gave her what was then called a "Josephine look," was carried out in the cut of the dark blue velvet gown rather theatrically caught up under her bosom by a girdle with a large old-fashioned clasp. The wearer of this unusual dress, who seemed quite unconscious of the attention it was attracting, stood a moment in the centre of the box, discussing with Mrs. Welland the propriety of taking the latter's place in the front right-hand corner; then she yielded with a slight smile, and seated herself in line with Mrs. Welland's sister-in-law,