Few things in this world are more painful than the realization that an estrangement has occurred between two old friends who for years have jogged amiably along together through life, sharing each other's joys and sorrows and holding the same views on religion, politics, cigars, wine, and the Decadence of the Younger Generation: and Mr. Bywater's reaction, on hearing Colonel Wyvern describe Mr. Lester Carmody, of Rudge Hall, until two short weeks ago his closest crony, as a fat thug, should have been one of sober sadness. Such, however, was not the case. Rather was he filled with an unholy exultation. All along he had maintained that there was more in that Hall business than had become officially known, and he stood there with his ears flapping, waiting for details. These followed immediately and in great profusion: and Mr. Bywater, as he drank them in, began to realize that his companion had certain solid grounds for feeling a little annoyed. For when, as Colonel Wyvern very sensibly argued, you have been a man's friend for twenty years and are walking with him in his park and hear warning shouts and look up and realize that a charge of dynamite is shortly about to go off in your immediate neighbourhood, you expect a man who is a man to be a man. You do not expect him to grab you round the waist and thrust you swiftly in between himself and the point of danger, so that, when the explosion takes place, you get the full force of it and he escapes without so much as a singed eyebrow. "Quite," said Mr. Bywater, hitching up his ears another inch. Colonel Wyvern continued. Whether, if in a condition to give the matter careful thought, he would have selected Chas. Bywater as a confidant, one cannot say. But he was not in such a condition. The stoppered bottle does not care whose is the hand that removes its cork--all it wants is the chance to fizz: and Colonel Wyvern resembled such a bottle. Owing to the absence from home of his daughter, Patricia, he had had no one handy to act as audience for his grievances, and for two weeks he had been suffering torments. He told Chas. Bywater all.