of risk. Should you choose to undertake this venture I for one would not hesitate to accept you.'

'Then, sir, you're saying . . .'

'I'm saying only that your suitability for the post is clear. You should understand that the business of any such venture will not be mine to command. The whole will be conducted by a promoter whom we term an armateur. He will form an association of interested persons looking to the matter with a view to investment. Should they concur, articles will be drawn up and the armateur will bring together the subscribers' funds into a consolidated whole, which will then form the capital of the venture. Their return will be in direct proportion to the measure of interest they have shown by their investment.'

'I see,' Kydd said. 'Then as a captain wi' no investment of my own m' position is—'

'This will be a matter for the articles of association. You can be assured that you will be adequately recompensed for your conduct. Some choose a regular wage, others a portion of the proceeds. It is a common thing for a successful captain later to become an investor in himself, with shares accordingly. These many fine mansions you see here in Grange Road are some intimation of what can be achieved.'

Kydd's pulse quickened. 'Then, er . . .'

Vauvert leaned back. 'Well, it seems I've sparked an interest in you, sir. Shall we say that, if I'm able to receive an expression of your earnest in the matter, I shall approach an armateur of my acquaintance to open discussion with a view to forming a venture? Do I have it, Mr Kydd?'

With only the barest hesitation Kydd gulped, 'Aye, sir, ye do.'

He was nearly late for the evening performance. Carne looked at him sharply as he arrived, but Kydd was too excited to care: he was on another plane of existence and did his work mechanically, letting the nervous energy of the theatre wash about him as a surreal backdrop to his thoughts.

It wasn't until the next morning that he managed to talk to Rosie. He told her what Vauvert had said, then added, with a grin, 'So, y' see, if this works f'r me I'm in a fair way t' hauling m'self back t' where I should be.'

'You will, love, never doubt it.' Her warm smile touched Kydd. If all the world shared her faith in him . . .

The next few days were trying, the possibility of great wealth such a contrast to the reality of present penury, but then a courteously worded note arrived: the armateur had shown a degree of interest and suggested Kydd meet him.

A time and date was duly agreed: Kydd was aware that everything was riding on this next stage. The armateur was a heavily built gentleman of years in plain dress, still with the blocky stance and weatherbeaten features of a professional mariner.

'Le Sieur Robidou is most experienced in these matters, I'll have you know, Mr Kydd. His success as a privateer in the American war is still talked of and he's trusted by all the merchant houses here in the article of practical costs management. He has some questions for you,' Vauvert told him.

Kydd found himself held in a steady gaze by the calm blue eyes of the older man. 'I'm pleased t' make your acquaintance, sir,' Robidou said, in a voice that was deep and authoritative. 'Ye've a mind to go a-caper, I believe?'

Vauvert interjected hastily: 'Oh, on a caper—it's an old Dutch term for going in search of plunder.'

'Er, I'm considering th' prospects,' Kydd answered politely.

'Might I know what you conceive t' be a captain's first concern in a private man-o'-war?'

Kydd hesitated, then came back stoutly, 'T' keep th' seas without cease until a prize be sighted,' he said, 'an' then t' spare nothing until th' prize is ours.'

Robidou replied in measured tones, 'For m'self, I'd think that the higher is t' take a proper regard f'r the ship an' her fittings as they are the property o' the owners, Mr Kydd. Cracking on in a chase is all fine an' well, but if she strains aloft or carries away her sticks, is she fit t' carry on after th' next prize? An' can ye tell me your outlay f'r a prime main-yard? 'Twould make y' eyes water, sir.'

Kydd mumbled something, but Robidou pressed on: 'Then what would be y'r second-most concern, sir?'

'Why, y'r books of account, o' course, sir,' Kydd replied. 'What is y'r prize-taking without y' know your expenses t' date as must be set against y'r profit? Double-entry, o' course, an' properly shipshape.'

'Well said, sir!' rumbled Robidou. 'So many neglect the same t' the eventual mortification o' their finances. Tell me, Mr Kydd, have ye experience at sea in th' commercial line?'

'I have, Mr Robidou. I was captain o' the Totnes Castle in th' colony trade around th' Cape, an' the owners were pleased enough wi' my service.' There was probably no need to explain that it had been a convict transport. 'And I stood by m' brig-sloop fitting out in Malta. A right caution t' see what hookum snivey the chousin' rogues tried at th' dockyard, it not being a King's yard.'

Robidou nodded. 'Totnes Castle—can't say I've knowledge of her. Now, these Channel Islands, do ye feel comfortable wi' the sea conditions t' be found here?'

'Aye. In Teazer we had on board Mr Queripel, an' a taut hand he was at y'r currents an' tides. He was good enough t' allow me t' hoist aboard a mort o' learning o' th' Brittany coast.'

'I know Queripel,' Robidou said. 'A good man. Well, I can see ye'll need to haul in a lot more about the privateer trade, but b' the look o' you, we'll rub along, I'm sure. Mr Vauvert, if we can satisfy Mr Kydd with our articles, I think we have a venture.'

It was no good. He couldn't go on any longer: a privateer captain or a stagehand—he couldn't be both. But if he stopped working he would be without enough funds to contribute to his lodging or whatever lay ahead.

Rosie was sympathetic. 'My dear, it happens to us all. You're between engagements and embarrassed for means.' She smiled sweetly. 'You shan't leave us on that account.' Crossing to a corner table she touched an odd- looking china cat with an upraised paw. 'If y' have need, just ask Mojo here.' She lifted its head and found him some coins. 'In course, we give him back th' rhino as soon as we're in the cobbs again.'

Kydd felt a gush of warmth. He felt he was sharing in a tradition that might have been handed down from the travelling players of Shakespeare's time, a custom that helped the needy without causing embarrassment. 'Don't worry, Rosie, I will,' he said. 'An' when m' first prize comes home, we'll have such a hob-a-nob together as will set th' town t' talkin' f'r weeks.'

Robidou's small office was on the top floor of an old ship's

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