“He should be here by this time,” he said carelessly. And as he spoke there was a sharp, cheery rap at the door; it opened quickly, and Julian Romayne appeared, very boyish, very good-looking, and with a curious, veiled keenness in his eyes. “We were just expecting you,” said Loring, greeting him with a friendly nod. “Let me introduce you to Mr. Alfred Ramsay.” Mr. Alfred Ramsay had risen to honour the introduction, turning his whole head slowly round as he looked at Julian, so that his eyes still gazed straight before them as they rested on the young man’s face. “Pleased to know you,” he said indifferently. “Very glad to make your acquaintance,” responded Julian pleasantly. “I hope I’m not behind time?” “Pretty fair,” said Loring, laying his hand on the young man’s shoulder with kindly patronage. “But Ramsay is a busy man, you know, so suppose we get to business at once. Ramsay,” he continued, in a brisk, businesslike voice, as the three sat down about the table, “Romayne knows nothing of the affair whatever. I shall begin by running over the preliminaries with him. And, first of all,” he went on, turning to Julian, “of course it is understood, Romayne, that we keep the matter to ourselves.” He spoke in a curt, off-hand manner, and as Julian made a quick gesture of acquiescence, he went on in the same businesslike tone. “I don’t know whether you know anything about the Welcome Diamond Mining Company?” he said. “Probably not. It was floated about this time last year, and the greater part of the business came into my hands. The shares were taken up all right, but--well, it didn’t come to anything, and its affairs had something to do with my going out to the Cape. It was in connection with those same affairs that I and Ramsay met.” Julian had listened so far with a clouded countenance, and now, as Loring paused, he leant back in his chair with a movement of irrepressible disappointment. “Oh!” he said shortly. “It’s a mine, then?” “There is a mine in connection with it,” replied Loring imperturbably. “But you need not trouble yourself about the mine. That is only the figure-head, you understand. The affair itself is a matter of--arrangement. Look here, Romayne,” he went on, as Julian leant suddenly forward across the table, “shares in the Welcome Diamond Mining Company are at this moment worth about five shillings each.” He paused. He had been leaning carelessly back in his chair, and now he moved, uncrossing his legs, and leaning one arm on the table. “In a few days,” he went on deliberately and significantly, “they will fall to two shillings.” He paused again, with a slight, matter-of-course gesture. “That will be worked, of course,” he said. Julian nodded comprehension. “Yes?” he said. “At that price,” continued Loring, “all the shares will be bought up by two or three men, in consequence of private information received from the Cape.”