"Lord Horton's entrance fee being paid," said the President, "I now move that he be enrolled as a full member." Carried unanimously. "My lord, you are one of us." Lord Horton advanced to the table and looked round with calm deliberation. He was a notable man--the best amateur low comedian of his day, a traveller who had pressed far into Thibet, a diplomatist at the mention of whose name the Turk shifted uneasily in his seat and fixed his eyes despondently on the floor. He had won his V.C. in China. He had done many things. "Your Grace, my lords and gentlemen," he said. "I thank you. In accordance with the usual custom of your Club I will explain how I have been able to fulfil my appointed duty. I received an intimation that the Nelson Goblet of the Fellmongers' Company was my entrance fee, and at once took steps to procure it. The matter was hardly difficult. A list of the Company showed me that the treasurer and plate-keeper was a certain Mr. Toft. The directory informed me that he was a steam-tug owner and a contractor to the Admiralty. Inquiry there told me he was under suspicion of bribery and corruption. I played on this little weakness of his, and, if I am not mistaken, I frightened him into the paths of virtue for the rest of his days. In return, he lent me the key of the plate safe of his Company. In broad daylight I proceeded for my booty. To my surprise, I found that I was expected. Someone had placed an agent on the spot to warn the custodian of the building of my intention. An alarm was raised. My lords and gentlemen, at whose instigation was that alarm raised?" Lord Horton paused. Members looked at each other in mystified amazement. What on earth was he driving at? Was he waiting for a reply? The silence grew painful. "Who instigated that alarm?" again the speaker asked. A voice replied, "Presumably Mr. Toft." "'Presumably Mr. Toft.' Sir Francis Marwood, I thank you for the suggestion. To continue. An alarm was raised by the agent of someone unknown. This agent was a lady who did not know that she was betraying an old friend. A minute later we were face to face. Instantly she pierced through my disguise, and by her presence of mind and fertility of resource alone did I escape." "Like Sir Francis Marwood, I thought my betrayer was Mr. Toft, and I hastened to interview that gentleman. I found him in a state of extreme nervous prostration, but I left him convinced that it was not he who had betrayed me. So your suggestion, Sir Francis Marwood, is wrong. Can you give me another clue?" Sir Francis did not reply. He looked uncomfortable at the attention bestowed upon his remark.