slipped with a smooth neatness born of experience.

Bailey hated Basil. Men, as a rule, did, without knowing why. Basil's

reputation was shady, without being actually bad. He was a suspect who

had never been convicted. New York contained several husbands who eyed

him askance, but could not verify their suspicions, and the apparent

hopelessness of ever doing so made them look on Basil as a man who had

carried smoothness into the realms of fine art. He was considered too

gifted to be wholesome. The men of his set, being for the most part

amiably stupid, resented his cleverness.

Bailey, just at present, was feeling strongly on the subject of Basil.

He was at that stage of his married life when he would have preferred

his Sybil to speak civilly to no other man than himself. And only

yesterday Sybil had come to him to inform him with obvious delight that

Basil Milbank had invited her to join his yacht party for a lengthy

voyage.

This had stung Bailey. He was not included in the invitation. The whole

affair struck him as sinister. It was true that Sybil had never shown

any sign of being fascinated by Basil; but, he told himself, there was

no knowing. He forbade Sybil to accept the invitation. To soothe her

disappointment, he sent her off then and there to Tiffany's with a

roving commission to get what she liked; for Bailey, the stern, strong

man, the man who knew when to put his foot down, was no tyrant. But he

would have been indignant at the suggestion that he had bribed Sybil to

refuse Basil's invitation.

One of the arguments which Sybil had advanced in the brief discussion

which had followed the putting down of Bailey's foot had been that Ruth

had been invited and accepted, so why should not she? Bailey had not

replied to this, it was at this point of the proceedings that the

Tiffany motive had been introduced, but he had not forgotten it. He

thought it over, and decided to call upon Ruth. He did so.

It was unfortunate that the nervous strain of being the Napoleon of

Wall Street had had the effect of increasing to a marked extent the

portentousness of Bailey's always portentous manner. Ruth rebelled

against it. There was an insufferable suggestion of ripe old age and

fatherliness in his attitude which she found irritating in the extreme.

All her life she had chafed at authority, and now, when Bailey set

himself up as one possessing it, she showed the worst side of herself

to him.

He struck this unfortunate note from the very beginning.

'Ruth,' he said, 'I wish to speak seriously to you.'

Ruth looked at him with hostile eyes, but did not speak. He did not

know it, poor man, but he had selected an exceedingly bad moment for

his lecture. It so happened that, only half an hour before, she and

Kirk had come nearer to open warfare than they had ever come.

It had come about in this way. Kirk had slept badly the night before,

and, as he lay awake in the small hours, his conscience had troubled

him.

Had he done all that it was in him to do to bridge the gap between Ruth

and himself? That was what his conscience had wanted to know. The

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