The last words came from Loring slowly and deliberately, and his eyes met Julian’s significantly. A quick flash of understanding passed across Julian’s face, and Loring continued easily: “Reports to this effect will get about. The fact of the presence in London of a mining engineer from the vicinity of the Welcome will also get about. Perhaps he may allow himself to be interviewed, you know--nothing definite, of course. The shares will go up with a run.” He paused, and Julian threw himself back in his chair, tapping the table meditatively with one hand. His gaze was fixed upon the wall just over Loring’s head, and there was a curious expression on his face which combined the keen matter-of-fact calculation of the habitual speculator with a certain unconscious gleam of hungry excitement which was eloquent of youth and inexperience. A minute or two passed, during which Mr. Ramsay’s eyes rested indifferently on the young man’s face, and then Julian spoke. His voice, also, in spite of his evident attempt at emulation of Loring’s businesslike nonchalance, was just touched by that youthful incapacity for holding keen personal interest in abeyance. “And the private information received from the Cape will be supplied----?” he said interrogatively. “Will be supplied by Ramsay,” returned Loring. The words were spoken with the slightest possible movement of the eyelids. Julian made a quick gesture of comprehension, and there was a moment’s silence. Then Loring went on crisply, darting a quick glance at Julian’s face in its calculating eagerness. “In a private speculation of this kind, of course, it is a case of working together and share and share alike. Now, we propose--Ramsay and I, you understand--to make up a joint capital for the purchase of these shares. We are prepared to put into it fifteen thousand pounds between us, and we want another ten thousand at least. If you are prepared to put in that sum, or more, on the understanding that the profits--after each man has received back his original investment--are divided into three equal shares, we are willing to take you in with us.” Julian looked up at him quickly. “Into three equal shares?” he said, with a stress on the adjective. “Into three equal shares,” returned Loring drily. “Capital is not the sole requisite in this affair, and the other factors are supplied by Ramsay and myself.” A dark flush mounted to Julian’s forehead, and the avidity in his eyes developed. “It’s a large order, though,” he said. “I don’t quite see where I come in at that rate, after all.” Loring leant back in his chair and looked him full in the face. “You can please yourself, of course,” he said. “Take it or leave it. You will come in to the tune of something like thirty thousand. If you see your way to trebling your capital by any other means, do so. Lots of fellows will be glad to take your place with us.” Julian’s eyes gleamed greedily, and he wavered obviously. “Those are your final terms?” he said.