Before leaving for Europe Isabel had leased the house to a young newspaper man whose wife had an income of her own, and not only an artistic appreciation of the view, but a more practical esteem for a site so far removed from the "all-night life" below. Immediately after Isabel's return Mrs. Glait had asked permission to sublet the house, remarking cynically that time had inured her to the desultory phenomena of journalism, but never to the stable prospect of her husband's death struggle with foot-pads, or her children falling down the cliff of this wild bit of nature in the heart of a city. Isabel took back her old home with another spasm of delight, and vowed that not until she was a pauper would she part with it again. Five or six days of every week must be spent on the chicken-ranch, which had grown to such proportions that she was now one of the persons that counted in her flourishing community. But in time she would live more and more in her lofty home, become a notable figure in San Francisco, drawing with both hands from its varied best; and meanwhile, once a week, she could sit for hours and look down upon the city, which, even in rainy weather, was a wild and beautiful sight from her eyrie. Mrs. Otis had been a niece of the Mrs. Montgomery who had reigned on Rincon Hill twenty years ago, and a cousin of the Helena Belmont who had been the greatest belle the city had seen since that earlier time when Nina Randolph, Guadalupe Hathaway, Mrs. Hunt McLane, and "The Three Macs" had made history for themselves in spite of the momentous era of which they were so unheeding a part. Mary Belmont would have been no mean heiress herself had not her father been too adventurous a spirit on the stock-market during the Belcher Bonanza excitement of 1872. For a time it looked as if Gordon Belmont would be a far richer man than his famous brother, Colonel Jack, always contented with a modest million; but in ten mad days there was a decline of sixty million dollars in the aggregate value of stocks on the San Francisco market; and six months later, when he died of sheer exhaustion, he had nothing to leave his only child but the house on Russian Hill, and a small income generously supplemented by her uncle and guardian until her marriage. She was thirteen at her father's death, and as her mother had preceded him, she spent the following five years in a New York boarding-school. Then she returned home, and, after a year's gayety, married James Otis. Colonel Belmont surrendered her small property. Skilfully "turned over" it would have multiplied indefinitely. But James Otis and his wife knew far more about spending money than making it, and to-day nothing was left to commemorate the meteoric and eminently typical career of Gordon Belmont but the ancient structure whose nucleus he had taken over just after his marriage as a "bad debt." His wife, too, had insisted upon living in it, for reasons subsequently understood by her daughter and Mrs. Glait, and