He laughed.

"A large sum, and this means more than money. There ought to be

something in the way of an honour--"

Falconer nodded.

"_If_ the scheme is successful, your father will be a peer of the

realm, Mr. Stafford," he said drily, with an emphasis on the "if."

"_If!_" echoed Sir Stephen, laughing and nodding. Stafford could see by

the brilliance of his eyes, the flush on his face, that he was excited

and was struggling with excitement. "If!"

Falconer nodded at the despatch-case, and, with another bantering

laugh, Sir Stephen opened it and took out a large envelope. He held

this for a moment poised between finger and thumb, then he tore it open

and took out a sheet of paper, and turned his flashing eyes from the

two men to the document.

He rose for a moment with the smile still on his face; then they saw it

fade, saw the flush slowly disappear, and in its place a dull grey

steal over the face.

Stafford, startled, went round to him and laid a hand on his shoulder.

"What is the matter, sir?" he asked. "Bad news?"

Sir Stephen looked at him as if he did not see him, then turned his

eyes upon Falconer, who stood regarding him with a fixed, sardonic

gaze.

"Hast thou found me, oh, mine enemy?" came at last from Sir Stephen's

white lips.

Stafford looked from one to the other.

"What--what on earth is the matter? What do you mean?" he said.

Sir Stephen raised his hand and pointed to Ralph Falconer.

"This--this man!" he gasped; then he shook his head impatiently, as if

he were fighting against his weakness. "This man Falconer has betrayed

me!"

Stafford drew himself up, as he stood by his father's side, and eyed

Falconer sternly.

"Will you explain, Mr. Falconer?" he said.

"Certainly," said Falconer, with a grim calmness. "Your father uses

unwarrantably strong language, Mr. Orme, for an action of mine which is

quite a common one amongst business men."

"No!" gasped Sir Stephen, as he sank back into the chair. "Treachery is

not common--"

"Treachery is the wrong word," said Falconer, as coldly as before.

"Better let me explain to Mr. Stafford. I can do so in a few words, Mr.

Orme. The fact is, your father and I have been, quite unknown, to each

other, engaged in the same scheme. It is nothing more nor less than the

acquisition of certain land and rights which carry with them the

privilege of constructing a railway in the most promising part of South

Africa--"




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