were both in the same firm⁠—the Eagle Ironworks. You know it maybe⁠—in Gateshead? It was Peter Howard’s then. I remember young Ponson joining it⁠—poor fellow, he’s gone now⁠—it was he that made it. When he started as office boy there was just one small shed and about a dozen men, and now it’s a company employing over a thousand hands. A wonderful change.”

“Wonderful indeed, Mr. Clayton.”

“Ay. A man of my years can look back over great changes. That’s more than a young fellow like you can do, eh, Mr. Tanner?”

“It’s true, sir. And you say Tom was drowned?”

“Yes. He got a sudden call. He was in the Numidian. You wouldn’t remember about her?”

“I don’t think so.”

“No, it would be before your time. A terrible business it was. The Numidian was a big boat, big for those times, I mean. She was running from Glasgow to Quebec, and she struck a berg. Went down off the banks in a few minutes. Nearly every soul on board was lost, and Tom Dale was one of them. A sudden call, it was.”

“A terrible affair. I do remember hearing of it.”

“Ay, no doubt. A sudden call for Tom, that it was.”

“You said he nearly broke a good woman’s heart, Mr. Clayton?”

“Ay, and so he did. Little Ethel Osborne was fool enough to marry him. And it wasn’t long till she was sorry for it. They say she saw him drunk for the first time the night after the wedding. But it wasn’t the last, not by a long chalk. He was a bad boy all through, was Tom.”

“Then his death must have been something of a release to her?”

“Yes, poor soul. But she had more sense the second time.”

“The second time?”

“Ay, she did what she ought to have done at the start⁠—married young William Ponson.”

“Never neglect the smallest clue!” thought Tanner triumphantly, as he recalled his doubt of the wisdom of following up the photograph. The connection between Douglas and Sir William was strengthening. Doubtless he was on the right track at last, and maybe if he questioned him skilfully, this old man would let something drop which would give away the secret.

Mr. Clayton was glad to talk⁠—the old gentleman seemed lonely⁠—and presently the whole story came out. Substantially it was the same as that Tanner had already heard from Mr. Arbuthnot, the late manufacturer’s lawyer. Mr. Clayton told of William Ponson’s start in life as office-boy in the Eagle Ironworks of John Howard; of his rapid rise to the position, first of manager, then partner, and finally of sole owner; of his taking his brother John, Cosgrove’s father, into the concern; of their extraordinary prosperity; of William’s municipal life, culminating in his knighthood, and of John’s death, followed by Sir William’s sale of the business, and retirement to Luce Manor.

With all of this Tanner was familiar, but he found Mr. Clayton was able to give him rather more details of the manufacturer’s family affairs than he had yet learnt.

It seemed that when the deceased knight was aged seven-and-twenty, he had fallen deeply in love with a Miss Ethel Osborne, the daughter of a Gateshead doctor. Miss Osborne was a pretty, though not very brilliant girl of some twenty summers, with a placid, pleasure-loving disposition, and a little money. The Dale brothers at this time held positions in the firm, Tom, the elder being a traveller, and his brother Edward a clerk. Tom was a handsome youth with rather fascinating manners. He was considerably below middle height, had delicate features, small and beautifully shaped hands and feet, and dark, passionate eyes.

When William Ponson began to press his attentions on Ethel Osborne, he soon found he had a rival in Tom Dale. For a long time the young lady was unable to decide between her two admirers. For Ponson she had more respect, and she felt that as his wife she would have an assured position and a comfortable home. But Ponson was “stodgy.” His thoughts were centred in his work, and his own advancement, and he had forsworn that lighter side of life⁠—theatres, dances, excursions⁠—which the young girl found so attractive. With Dale she believed her prospects might be less secure, but life would certainly be pleasanter. He seemed to understand her, and respond to her moods better than the other, and he was a delightful companion. And who shall blame her if she sacrificed material prosperity to the joy of life, rather, who shall not praise her?

In due time she married Dale, and at once, on the very selfsame day, her disillusionment began. That night, as has already been mentioned, he returned drunk to the Scottish hotel at which they were to spend the honeymoon. And that was only the first occasion of many. Soon she learned of an entanglement with a barmaid which had been going on at the very time of the wedding. It was not long before their numerous quarrels led to an open rupture, and Dale made no secret to his wife of the fact that he had married her for her money. Matters went from bad to worse, till debt began to fasten on them its horrid shackles, and ruin stared them in the face. The one alleviating circumstance was that there had been no children from the marriage.

All this William Ponson watched, grieving for Ethel, but of course helpless. Then it became necessary for the firm to send a representative to Canada, and the choice fell on their traveller, Tom Dale. Whether or not Ponson had any say in this decision was not known, but at all events Dale sailed for Quebec in the Numidian. As will be remembered, the vessel was lost off the coast of Newfoundland, a mere handful of her complement being saved. Dale’s name was amongst the lost. Ethel Dale therefore found herself not only without assets, but called upon to meet a considerable crop of debts. Her father having died since her marriage, she was thus absolutely destitute.

It was

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