he took any important step as consequent upon the new arrangement in regard to the property, and then Sir Thomas was still among the electors at Percycross. He wished to do everything that was proper, and would wait for the return of Sir Thomas. But he must do something at once. To remain in his lodgings and at his club was not in accord with that better path in life which he had chalked out for himself. Of course he must go down to the Moonbeam. He had four horses there, and must sell at least three of them. One hunter he intended to allow himself. There were Brag, Banker, Buff, and Brewer; and he thought that he would keep Brag. Brag was only six years old, and might last him for the next seven years. In the meantime he could see a little cub-hunting, and live at the Moonbeam for a week at any rate as cheaply as he could in London. So he went down to the Moonbeam, and put himself under the charge of Mr. Horsball. And here he found himself in luck. Lieutenant Cox was there, and with the lieutenant a certain Fred Pepper, who hunted habitually with the B. and B. Lieutenant Cox had soon told his little tale. He had sold out, and had promised his family that he would go to Australia. But he intended to "take one more winter out of himself," as he phrased it. He had made a bargain to that effect with his governor. His debts had been paid, his commission had been sold, and he was to be shipped for Queensland. But he was to have one more winter with the B. and B. An open, good-humoured, shrewd youth was Lieutenant Cox, who suffered nothing from false shame, and was intelligent enough to know that life at the rate of L1,200 a year, with L400 to spend, must come to an end. Fred Pepper was a young man of about forty-five, who had hunted with the B. and B., and lived at the Moonbeam from a time beyond which the memory of Mr. Horsball's present customers went not. He was the father of the Moonbeam, Mr. Horsball himself having come there since the days in which Fred Pepper first became familiar with its loose boxes. No one knew how he lived or how he got his horses. He had, however, a very pretty knack of selling them, and certainly paid Mr. Horsball regularly. He was wont to vanish in April, and would always turn up again in October. Some people called him the dormouse. He was good-humoured, good-looking after a horsey fashion, clever, agreeable, and quite willing to submit himself to any nickname that could be found for him. He liked a rubber of whist, and was supposed to make something out of bets with bad players. He rode very carefully, and was altogether averse to ostentation and bluster in the field. But he could make a horse do anything when he wanted to sell him, and could on an occasion give a lead as well as any man. Everybody liked him, and various things were constantly said in his praise. He was never known to borrow a sovereign. He had been known to lend a horse. He did not drink. He was a very safe man in the field.