“The state of affairs is even worse than I thought,” said Henry, when he had finished. “It is clear that we are absolutely bankrupt; and the only thing I wonder at, Mr. Levinger,” he added, with some irritation, “is that you, a business man, should have allowed things to go so far.” “Surely that was my risk, Captain Graves,” he answered. “It is I who am liable to lose money, not your family.” “Forgive me, Mr. Levinger, there is another side to the question. It seems to me that we are not only paupers, we are also defaulters, or something like it; for if we were sold up to the last stick to-morrow we should not be able to repay you these sums, to say nothing of other debts that may be owing. To tell you the truth, I cannot quite forgive you for putting my father in this position, even if he was weak enough to allow you to do so.” “There is something in what you say considered from the point of view of a punctiliously honest man, though it is an argument that I have never had advanced to me before,” replied Mr. Levinger drily. “However, let me disabuse your mind: the last loan of ten thousand pounds, which, I take it, leaving interest out of the count, would about cover my loss were the security to be realised to-day, was not made at the instance of your father, who I believe did not even know of it at the time. If you want the facts, it was made because of the earnest prayer of your brother Reginald, who declared that this sum was necessary to save the family from immediate bankruptcy. It is a painful thing to have to say, but I have since discovered that it was your brother himself who needed the money, very little of which found its way into Sir Reginald’s pocket.” [Illustration: ] ‘Forgive me, Mr. Levinger, there is another side to the question.’ At this point Henry rose and, turning his back, pretended to refill his pipe. He dared not trust himself to speak, lest he might say words that should not be uttered of the dead; nor did he wish to show the shame which was written on his face. Mr. Levinger saw the movement and understood it. Dropping the subject of Reginald’s delinquencies, he went on: