The hansom scampered off to Fleet-st. As the result of inquiries Spencer was deposited at the entrance to a dingy court, the depths of which, he was assured, were illumined by "The Firefly." There is nothing that so mystifies the citizen of the New World as the hole-and-corner aspect of some of the business establishments of London. He soon learns, however, to differentiate between the spidery dens where money is amassed and the soot laden tenements in which the struggle for existence is keen. A comprehensive glance at the exterior of the premises occupied by "The Firefly" at once explained to Spencer why the cabman did not know its whereabouts. Three small rooms sufficed for its literary and commercial staff, and "To let" notices stared from several windows in the same building. "Appearances are deceptive ever," murmured he, as he scanned the legends on three doors in a narrow lobby; "but I think I'm beginning to catch on to the limited extent of Miss Helen's earnings from her scientific paragraphs." He knocked at each door; but received no answer. Then, having sharp ears, he tried the handle of one marked "Private." It yielded, and he entered, to be accosted angrily by a pallid, elderly, bewhiskered man, standing in front of a much littered table. "Confound it, sir!" came the growl, "don't you know it is Saturday afternoon? And what do you mean by coming in unannounced?" "Guess you're the editor?" said Spencer. "What if I am?" "I've just happened along to have a few quiet words with you. If there's no callers Saturdays, why, that's exactly what I want, and I came right in because you didn't answer my knock." "I tell you I'm not supposed to be here." "Then you shouldn't draw corks while anybody is damaging the paint outside." Spencer smiled so agreeably that the editor of "The Firefly" softened. At first, he had taken his visitor for an unpaid contributor; but the American accent banished this phantom of the imagination. He continued to pour into a tumbler the contents of a bottle of beer. "Well," he said, "now that you are here, what can I do for you, Mr.----" "Spencer--Charles K. Spencer." Instantly it struck the younger man that little more than an hour had elapsed since he gave his name to the letter clerk in the hotel. The singularity of his proceedings during that hour was thereby brought home to him. He knew nothing of newspapers, daily or weekly; but commonsense suggested that "The Firefly's" radiance was not over-powering. His native shrewdness advised caution, though he felt sure that he could, in homely phrase, twist this faded journalist round his little finger. "Before I open the ball," he said, "may I see a copy of your magazine?" Meanwhile the other was trying to sum him up. He came to the conclusion that his visitor meant to introduce some new advertising scheme, and, as "The Firefly" was sorely in need of advertisements, he decided to listen.