Denry ran. The moment had not struck him as a moment propitious for explanation. In a flash he had seen the ridiculousness of endeavouring to convince a stout lady in black that he was a gentleman paying a call on the Countess. He simply scrambled to his legs and ran. He ran aimlessly in the darkness and sprawled over a hedge, after crossing various flower-beds. Then he saw the sheen of the moon on Sneyd Lake, and he could take his bearings. In winter all the Five Towns skate on Sneyd Lake if the ice will bear, and the geography of it was quite familiar to Denry. He skirted its east bank, plunged into Great Shendon Wood, and emerged near Great Shendon Station, on the line from Stafford to Knype. He inquired for the next train in the tones of innocency, and in half an hour was passing through Sneyd Station itself. In another fifty minutes he was at home. The clock showed ten-fifteen. His mother's cottage seemed amazingly small. He said that he had been detained in Hanbridge on business, that he had had neither tea nor supper, and that he was hungry. Next morning he could scarcely be sure that his visit to Sneyd Hall was not a dream. In any event, it had been a complete failure. V It was on this untriumphant morning that one of the tenants under his control, calling at the cottage to pay some rent overdue, asked him when the Universal Thrift Club was going to commence its operations. He had talked of the enterprise to all his tenants, for it was precisely with his tenants that he hoped to make a beginning. He had there a _clientèle_ ready to his hand, and as he was intimately acquainted with the circumstances of each, he could judge between those who would be reliable and those to whom he would be obliged to refuse membership. The tenants, conclaving together of an evening on doorsteps, had come to the conclusion that the Universal Thrift Club was the very contrivance which they had lacked for years. They saw in it a cure for all their economic ills, and the gate to Paradise. The dame who put the question to him on the morning after his defeat wanted to be the possessor of carpets, a new teapot, a silver brooch, and a cookery book; and she was evidently depending upon Denry. On consideration he saw no reason why the Universal Thrift Club should not be allowed to start itself by the impetus of its own intrinsic excellence. The dame was inscribed for three shares, paid eighteen-pence entrance fee, undertook to pay three shillings a week, and received a document entitling her to spend £3, 18s. in sixty-five shops as soon as she had paid £1, 19s. to Denry. It was a marvellous scheme. The rumour of it spread; before dinner Denry had visits from other aspirants to membership, and he had posted a cheque to Bostocks', but more from ostentation than necessity; for no member could possibly go into Bostocks' with his coupons until at least two months had elapsed.