"A paltry fifty pounds!" exclaimed Mr. Sheldrake scornfully. "Why, you might win it on a horse fifty times over in five minutes! There's the Goodwood Cup and the Stakes going to be run for presently----" "I've got the tip for the Cup," cried Alfred eagerly; "I can get thirty to one about it to-day. I'll pay Mr. Staveley directly the race is over, and any interest he likes to charge, and I'll give him the tip, too, if he likes." (Whereat something very like a grin appeared on Con's face.) "The horse only carries five stone seven. He can't lose!" "There, Staveley, do you hear that?" asked Mr. Sheldrake in a reproachful tone. "Isn't that good enough for you?" Con Staveley shrugged his shoulders, indicating that it was not good enough for him. "Curse me if I don't feel inclined to turn nasty!" then exclaimed Mr. Sheldrake. "If I had the money to spare, I'd lend it to him on the spot. But I shall be short for the next month." "Can't your friend wait till then?" With quivering lips, Alfred said, No; "he _must_ have the money at once." "And you'll let him have it," said Mr. Sheldrake. "I don't feel at all inclined to," replied Con. Here Mr. Sheldrake took up his hat in pretended indignation, and declared if this was friendship, curse him, he didn't want any more of it! and otherwise expressed himself to the same effect in terms so exceedingly warm, that Con Staveley began to lose patience. "Look here, Sheldrake," he retorted; "be reasonable. I'm doing this for your protection, and you're infernally ungrateful. Your friend wants the money to pay racing debts with; well, I told him before you came in, that racing debts are not recoverable by law, so that whoever he owes the money to _must_ wait until he can pay. Let your friend pay his debts after the Goodwood Cup is run for; he'll be all right then. As for friendship, you're a little too hard on me. You know fifty pounds is no object to me, and if after what I've said you insist upon becoming responsible for the sum, I'll let him have it. I can't say fairer than that. But mind; I warned you." Mr. Sheldrake seemed impressed by what Con Staveley had said. He considered a little, and asked if Con could let him have five minutes' private conversation with Alfred. "You can have this room," said Con, rising. "I've got some writing to do in the next. Call me when you have done." When they were alone, Mr. Sheldrake said, "After all, Alf, there's something in what Staveley says. Racing debts are not recoverable. I can understand his feelings very well; he doesn't know you, or anything about you. He is only anxious to protect me. I _have_ been let in a good many times by one and another, and I've paid him money which he has been obliged to take in the way of business, and which he has lent, on my recommendation, to people I've wanted to do a good turn for." "_I_ won't let you in," said Alfred.