always will. From the first issue of circulars thousands of pounds poured in, and after a very brief interval the first monthly dividend was announced at ten per cent-and paid. In another thirty days the second month's dividend was announced at fifteen per cent -and paid. The third month's dividend was twenty per cent- 'which,' a second issue of circulars hoped, 'should remain as a regular working profit'-and the money was pouring in almost as fast as it could be banked. The original investors increased their investments frantically, and told their friends, who also subscribed and spread the good news. The dividends, of course, were paid straight out of the investors' own capital and the new subscriptions that were continually flowing in; but any suspicion of such low duplicity was, as usual, far from the minds of the innocent suckers who in a few months built up Mr. Julian Lamantia's bank balance to the amazing total of L85,000.

Like all get-rich-quick schemes, it had its inevitable breaking point, and this Mr. Lamantia knew. 'Clean up while it lasts, and get out,' is the only possible motto for its promoter; but a certain fatal doubt has often existed about how long it may safely be expected to last. Mr. Lamantia thought that he had gauged the duration to a nicety. On this morning whose events we have been following, Mr. Lamantia drew out his balance from the bank, packed it neatly in a small leather bag, and called back at his office. Perhaps that was a foolish thing to do, but his new secretary was a very beautiful girl. It was Saturday, and the week-end would give him a long start on his getaway. He had a new passport in another name, his passage was booked from Southampton, his luggage was packed and gone, his moustache ready for mowing: only one more thing was needed.

'Well,' he said bluntly, 'have you made up your mind?'

'I should like to come, Mr. Lamantia.'

'Julian,' said Mr. Lamantia attractively, 'will do. Haven't you got a first name-Miss Allfield?'

'Kathleen,' said the girl, with a smile. 'Usually Kate.'

The name meant nothing to Mr. Lamantia, who did his best to hold aloof from ordinary criminal circles. He said he pre­ferred Kathleen.

'When do you go?' she asked.

'This afternoon.'

'But you told me --'

'I've had to change my plans. I had a cable from Buenos Aires at my hotel this morning-I must get there as soon as I possibly can.'

He had not taken her into his confidence. That could be done later, by delicate and tactful stages, if he felt like pro­longing the liaison. His projected journey to South America had been discussed as a purely business affair, in connection with vague talk of a gigantic loan to the Argentine National Railways.

'It would be a wonderful trip for you,' he said. 'New places, new people, no end of new entertainments. Never mind about a lot of luggage. You can go home now and pack everything you want to take from London; anything else you need you can buy at Lisbon.'

She hesitated for a few moments, and then turned her deep brown eyes back to him.

'All right.'

His gaze stripped her in quiet elation, but he did not try to make love to her. There would be plenty of time for that. He put on his hat again and went home to finish the last items of his packing; and when he had gone Kate Allfield picked up his private telephone and called the Saint's apartment.

Peter Quentin answered it, and returned after a few minutes to the bathroom, where the Saint was washing his razor.

'It's today,' he said. 'The boat train leaves at two-thirty, and Kate is supposed to be meeting Julian for lunch at the Savoy first. Kate,' said Peter reflectively, unaware that the same thought had struck Mr. Lamantia, 'isn't nearly so nice as Kathleen.'

Simon turned off the taps that were filling his bath, threw off his pyjamas, and sank into the warm water.

'You have been seeing quite a lot of her lately, haven't you?' he murmured.

'Only on business,' said Peter, with unnecessary clearness. 'After she put us on to this stunt of Julian's, and volunteered to do the inside work --'

'And the new vocabulary, Peter? Did you get that out of a book?'

The Saint's mocking blue eyes swerved down from the ceil­ing and aimed directly at the other's face. Peter went red.

'I think I did get it from her,' he said. 'But that's nothing.'

Simon picked up the soap and lathered his legs thoughtfully.

'In the preliminary palaver of that Star of Mandalay affair, she told me she was about to retire.'

'I don't see why she shouldn't,' said Peter judicially.

'I don't see why anyone shouldn't retire,' said the Saint, 'when they've made a useful pile. Look at you.'

'Why look at me?'

'You've done pretty well since we teamed up. About forty thousand quid, I make it.'

These chronicles have only attempted a few incidents in the Saint's career that were distinguished by some odd twist of luck or circumstance or ingenuity. His crimes were always legion; and it is often hard for the historian to select the exploits which seem most worthy of commemoration.

'I owe you a lot,' said Peter.

'Brickdust,' said the Saint tersely.

He spread the lather over his arms and chest and shoulders, and submerged himself again. Then he said: 'Peter, I let you come in with me because you wanted to and you'd lost your job and you had to live somehow. Now you've got forty thousand quid, three thousand a year or more if you invest it skillfully, and you don't need a job.

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