their guests, that they might be admired. But Selma enjoyed more than the general conversation her talk with the master of the house, who possessed all the friendly suavity of his wife and also the valuable masculine trait of seeming to be utterly absorbed in any woman to whom he was talking. Gregory had a great deal of manner and a confidential fluency of style, which gave distinction even to commonplace remarks. His method did not condescend to nudging when he wished to note a point, but it fell only so far short of it as he thought social elegance required. His conversation presently drifted, or more properly speaking, flowed into a graphic and frank account of his own progress as a banker. He referred to past successful undertakings, descanted on his present roseate responsibilities, and hinted sagely at impending operations which would eclipse in importance any in which he had hitherto been engaged. In answer to Selma's questions he discoursed alluringly concerning the methods of the Stock Exchange, and gave her to understand that for an intelligent and enterprising man speculation was the high road to fortune. No doubt for fools and for people of mediocre or torpid abilities it was a dangerous trade; but for keen and bold intellects what pursuit offered such dazzling opportunities? Selma listened, abhorrent yet fascinated. It worried her to be told that what she had been accustomed to regard as gambling should be so quickly and richly rewarded. Yet the fairy scene around her manifestly confirmed the prosperous language of her host and left no room for doubt that her neighbors were making brilliant progress. Apparently, too, this business of speculation and of vast combinations of railroad and other capital, the details of which were very vague to her, was, in his opinion, the most desirable and profitable of callings. "Do you know," she said, "that I have been taught to believe that to speculate in stocks is rather dreadful, and that the people of the country don't approve of it." She spoke smilingly, for the leaven of the New York manner was working, but she could not refrain from testifying on behalf of righteousness.