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I'm a mere child, I'm nineteen.”

      “But I thought—” he began, and paused and lighted another cigarette.

      Her eyes lighted mischievously.

      “You thought that I had been out several years, and that I'd seen a good deal of the world, and that I lived in New York, and that it was strange you didn't know me. But New York is such an enormous place I suppose one can't know everybody there.”

      “And—where do you come from, if I may ask?” he said.

      “St. Louis. I was brought to this country before I was two years old, from France. Mrs. Holt brought me. And I have never been out of St. Louis since, except to go to Sutcliffe. There you have my history. Mrs. Holt would probably have told it to you, if I hadn't.”

      “And Mrs. Holt brought you to this country?”

      Honora explained, not without a certain enjoyment.

      “And how do you happen to be here?” she demanded. “Are you a member of—of the menagerie?”

      He had the habit of throwing back his head when he laughed. This, of course, was a thing to laugh over, and now he deemed it audacity. Five minutes before he might have given it another name there is no use in saying that the recital of Honora's biography had not made a difference with Mr. Howard Pence, and that he was not a little mortified at his mistake. What he had supposed her to be must remain a matter of conjecture. He was, however, by no means aware how thoroughly this unknown and inexperienced young woman had read his thoughts in her regard. And if the truth be told, he was on the whole relieved that she was nobody. He was just an ordinary man, provided with no sixth sense or premonitory small voice to warn him that masculine creatures are often in real danger at the moment when they feel most secure.

      It is certain that his manner changed, and during the rest of the walk she listened demurely when he talked about Wall Street, with casual references to the powers that be. It was evident that Mr. Howard Spence was one who had his fingers on the pulse of affairs. Ambition leaped in him.

      They reached the house in advance of Mrs. Holt and the Vicomte, and Honora went to her room.

      At dinner, save for a little matter of a casual remark when Mr. Holt had assumed the curved attitude in which he asked grace, Mr. Spence had a veritable triumph. Self-confidence was a quality which Honora admired. He was undaunted by Mrs. Holt, and advised Mrs. Robert, if she had any pin-money, to buy New York Central; and he predicted an era of prosperity which would be unexampled in the annals of the country. Among other powers, he quoted the father of Honora's schoolmate, Mr. James Wing, as authority for this prophecy. He sat next to Susan, who maintained her usual maidenly silence, but Honora, from time to time, and as though by accident, caught his eye. Even Mr. Holt, when not munching his dried bread, was tempted to make some inquiries about the market.

      “So far as I am concerned,” Mrs. Holt announced suddenly, “nothing can convince me that it is not gambling.”

      “My dear Elvira!” protested Mr. Holt.

      “I can't help it,” said that lady, stoutly; “I'm old-fashioned, I suppose. But it seems to me like legalized gambling.”

      Mr. Spence took this somewhat severe arraignment of his career in admirable good nature. And if these be such a thing as an implied wink, Honora received one as he proceeded to explain what he was pleased to call the bona-fide nature of the transactions of Dallam and Spence.

      A discussion ensued in which, to her surprise, even the ordinarily taciturn Joshua took a part, and maintained that the buying and selling of blooded stock was equally gambling. To this his father laughingly agreed. The Vicomte, who sat on Mrs. Holt's right, and who apparently was determined not to suffer a total eclipse without a struggle, gallantly and unexpectedly came to his hostess' rescue, though she treated him as a doubtful ally. This was because he declared with engaging frankness that in France the young men of his monde had a jeunesse: he, who spoke to them, had gambled; everybody gambled in France, where it was regarded as an innocent amusement. He had friends on the Bourse, and he could see no difference in principle between betting on the red at Monte Carlo and the rise and fall of the shares of la Compagnie des Metaux, for example. After completing his argument, he glanced triumphantly about the table, until his restless black eyes encountered Honora's, seemingly seeking a verdict. She smiled impartially.

      The subject of finance lasted through the dinner, and the Vicomte proclaimed himself amazed with the evidences of wealth which confronted him on every side in this marvellous country. And once, when he was at a loss for a word, Honora astonished and enchanted him by supplying it.

      “Ah, Mademoiselle,” he exclaimed, “I was sure when I first beheld you that you spoke my language! And with such an accent!”

      “I have studied it all my life, Vicomte,” she said, modestly, “and I had the honour to be born in your country. I have always wished to see it again.”

      Monsieur de Toqueville ventured the fervent hope that her wish might soon be gratified, but not before he returned to France. He expressed himself in French, and in a few moments she found herself deep in a discussion with him in that tongue. While she talked, her veins seemed filled with fire; and she was dimly and automatically aware of the disturbance about her, as though she were creating a magnetic storm that interfered with all other communication. Mr. Holt's nightly bezique, which he played with Susan, did not seem to be going as well as usual, and elsewhere conversation was a palpable pretence. Mr. Spence, who was attempting to entertain the two daughters-in-law, was clearly distrait—if his glances meant anything. Robert and Joshua had not appeared, and Mrs. Holt, at the far end of the room under the lamp, regarded Honora from time to time over the edge of the evening newspaper.

      In his capacity as a student of American manners, an unsuspected if scattered knowledge on Honora's part of that portion of French literature included between Theophile Gautier and Gyp at once dumfounded and delighted the Vicomte de Toqueville. And he was curious to know whether, amongst American young ladies, Miss Leffingwell was the exception or the rule. Those eyes of his, which had paid to his hostess a tender respect, snapped when they spoke to our heroine, and presently he boldly abandoned literature to declare that the fates alone had sent her to Silverdale at the time of his visit.

      It was at this interesting juncture that Mrs. Holt rattled her newspaper a little louder than usual, arose majestically, and addressed Mrs. Joshua.

      “Annie, perhaps you will play for us,” she said, as she crossed the room, and added to Honora: “I had no idea you spoke French so well, my dear. What have you and Monsieur de Toqueville been talking about?”

      It was the Vicomte who, springing to his feet, replied nimbly: “Mademoiselle has been teaching me much of the customs of your country.”

      “And what,” inquired Mrs. Holt, “have you been teaching Mademoiselle?”

      The Vicomte laughed and shrugged his shoulders expressively.

      “Ah, Madame, I wish I were qualified to be her teacher. The education of American young ladies is truly extraordinary.”

      “I was about to tell Monsieur de Toqueville,” put in Honora, wickedly, “that he must see your Institution as soon as possible, and the work your girls are doing.”

      “Madame,” said the Vicomte, after a scarcely perceptible pause, “I await my opportunity and your kindness.”

      “I will take you to-morrow,” said Mrs. Holt.

      At this instant a sound closely resembling a sneeze caused them to turn. Mr. Spence, with his handkerchief to his mouth, had his back turned to them, and was studiously regarding the bookcases.

      After Honora had gone upstairs for the night she opened her door in response to a knock, to find Mrs. Holt on the threshold.

      “My dear,” said that lady, “I feel that I must say a word to you. I suppose you realize that you are attractive to men.”

      “Oh, Mrs. Holt.”

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