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him hold a match to Mr. Batchgrew's cigarette!

Now Mr. Batchgrew smoked a cigarette clumsily. He seemed not to be able to decide whether a cigarette was something to smoke or something to eat. Mr. Batchgrew was more ungainly than ever, stretched in his characteristic attitude at an angle of forty-five degrees; his long whiskers were more absurdly than ever like two tails of a wire-haired white dog; his voice more coarsely than ever rolled about the room like undignified thunder. He was an old, old man, and a sinister. It was precisely his age that caressed Rachel's pride. That any man so old should have come to her house for supper, should be treating her as an equal and with the directness of allusion in conversation due to a married woman but improper to a young girl--this was very sweet to Rachel. The subdued stir made by Mrs. Tams in clearing the table was for Rachel a delicious background to the scene. The one flaw in it was her short skirt, which she had not had time to change. Louis had protested that it was entirely in order, and indeed admirably coquettish, but Rachel would have preferred a long train of soft drapery disposed with art round the front of her chair.

"What you want here is electricity," said Thomas Batchgrew, gazing at the incandescent gas; he could never miss a chance, and was never discouraged in the pursuit of his own advantage.

"You think so?" murmured Louis genially.

"I could put ye in summat as 'u'd----"

Rachel broke in a clear, calm decision--

"I don't think we shall have any electricity just yet."

The gesture of the economical wife in her was so final that old Batchgrew raised his eyebrows with a grin at Louis, and Louis humorously drew down the corners of his mouth in response. It was as if they had both said, in awe--

"She has spoken!"

And Rachel, still further flattered and happy, was obliged to smile.

When Mrs. Tams had made her last tiptoe journey from the room and closed the door with due silent respect upon those great ones, the expression of Thomas Batchgrew's face changed somewhat; he looked round, as though for spies, and then drew a packet of papers from his pocket. And the expression of the other two faces changed also. For the true purpose of the executor's visit was now to be made formally manifest.

"Now about this statement of account--_re_ Elizabeth Maldon, deceased," he growled deeply.

"By the way," Louis interrupted him. "Is Julian back?"

"Julian back? Not as I know of," said Mr. Batchgrew aggressively. "Why?"

"We thought we saw him walking down Moorthorne Road to-night."

"Yes," said Rachel. "We both thought we saw him."

"Happen he is if he aeroplaned it!" said Batchgrew, and fumbled nervously with the papers.

"It couldn't have been Julian," said Louis, confidently, to Rachel.

"No, it couldn't," said Rachel.

But neither conjured away the secret uneasiness of the other. And as for Rachel, she knew that all through the evening she had, inexplicably, been disturbed by an apprehension that Julian, after his long and strange sojourn in South Africa, had returned to the district. Why the possible advent of Julian should disconcert her, she thought she could not divine. Mr. Batchgrew's demeanour as he answered Louis' question mysteriously increased her apprehension. At one moment she said to herself, "Of course it wasn't Julian." At the next, "I'm quite sure I couldn't be mistaken." At the next, "And supposing it was Julian--what of it?"


II


When Batchgrew and Louis, sitting side by side on the Chesterfield, began to turn over documents and peer into columns, and carry the finger horizontally across sheets of paper in search of figures, Rachel tactfully withdrew, not from the room, but from the conversation, it being her proper role to pretend that she did not and could not understand the complicated details which they were discussing. She expected some rather dazzling revelation of men's trained methods at this "business interview" (as Louis had announced it), for her brother and father had never allowed her the slightest knowledge of their daily affairs. But she was disappointed. She thought that both the men were somewhat absurdly and self-consciously trying to be solemn and learned. Louis beyond doubt was self-conscious--acting as it were to impress his wife--and Batchgrew's efforts to be hearty and youthful with the young roused her private ridicule.

Moreover, nothing fresh emerged from the interview. She had known all of it before from Louis. Batchgrew was merely repeating and resuming. And Louis was listening with politeness to recitals with which he was quite familiar. In words almost identical with those already reported to her by Louis, Batchgrew insisted on the honesty and efficiency of the valuer in Hanbridge, a lifelong friend of his own, who had for a specially low fee put a price on the house at Bycars and its contents for the purpose of a division between Louis and Julian. And now, as previously with Louis, Rachel failed to comprehend how the valuer, if he had been favourably disposed towards Louis, as Batchgrew averred, could at the same time have behaved honestly towards Julian. But neither Louis nor Batchgrew seemed to realize the point. They both apparently flattered themselves with much simplicity upon the partiality of the lifelong friend and valuer for Louis, without perceiving the logical deduction that if he was partial he was a rascal. Further, Thomas Batchgrew "rubbed Rachel the wrong way" by subtly emphasizing his own marvellous abilities as a trustee and executor, and by assuring Louis repeatedly that all conceivable books of account, correspondence, and documents were open for his inspection at any time. Batchgrew, in Rachel's opinion, might as well have said, "You naturally suspect me of being a knave, but I can prove to you that you are wrong."

Finally, they came to the grand total of Louis' inheritance, which Rachel had known by heart for several days past; yet Batchgrew rolled it out as a piece of tremendous news, and immediately afterwards hinted that the sum represented less than the true worth of Louis' inheritance, and that he, Batchgrew, as well as his lifelong friend the valuer, had been influenced by a partiality for Louis. For example, he had contrived to put all the house property, except the house at Bycars, into Julian's share; which was extremely advantageous for Louis because the federation of the Five Towns into one borough had rendered property values the most capricious and least calculable of all worldly possessions.... And Louis tried to smile knowingly at the knowing trustee and executor with his amiable partiality for one legatee as against the other. Louis' share, beyond the Bycars house, was in the gilt-edged stock of limited companies which sold water and other necessaries of life to the public on their own terms.

Rachel left the pair for a moment, and returned from upstairs with a grey jacket of Louis' from which she had to unstitch the black _crepe_ armlet announcing to the world Louis' grief for his dead great-aunt; the period of mourning was long over, and it would not have been quite nice for Louis to continue announcing his grief.

As she came back into the room she heard the word "debentures," and that single word changed her mood instantly from bland feminine toleration to porcupinish defensiveness. She did not, as a fact, know what debentures were. She could not for a fortune have defined the difference between a debenture and a share. She only knew that debentures were connected with "limited companies"--not waterworks companies, which she classed with the Bank of England--but just any limited companies, which were in her mind a bottomless pit for the savings of the foolish. She had an idea that a debenture was, if anything, more fatal than a share. She was, of course, quite wrong, according to general principles; but, unfortunately, women, as all men sooner or later learn, have a disconcerting habit of being right in the wrong way for the wrong reasons. In a single moment, without justification, she had in her heart declared war on all debentures. And as soon as she gathered that Thomas Batchgrew was suggesting to Louis the exchange of waterworks stock for seven per cent. debentures in the United Midland Cinemas Corporation, Limited, she became more than ever convinced that her instinct about debentures was but too correct. She sat down primly, and detached the armlet, and removed all the bits of black cotton from the sleeve, and never raised her head nor offered a remark, but she was furious--furious to protect her husband against sharks and against himself.

The conduct and demeanour of Thomas Batchgrew were now explained. His visit, his flattery, his heartiness, his youthfulness, all had a motive. He had safeguarded Louis' interests under the will in order to rob him afterwards as a cinematograph speculator. The thing was as clear as daylight. And yet Louis did not seem to see it. Louis listened to Batchgrew's ingenious arguments with naive interest and was obviously impressed. When Batchgrew called him "a business man as smart as they make 'em," and then proved that the money so invested would be as safe as in a stocking, Louis agreed with a great air of acumen that certainly it would. When Batchgrew pointed out that, under the proposed new investment, Louis would be receiving in income thirty or thirty-five shillings for every pound under the old investments, Louis' eye glistened--positively glistened! Rachel trembled. She saw her husband beggared, and there was nothing that frightened her more than the prospect of Louis without a reserve of private income. She did not argue the position--she simply knew that Louis without sure resources behind him would be a very dangerous and uncertain Louis, perhaps a tragic Louis. She frankly admitted this to herself. And old Batchgrew went on talking and inveigling until Rachel was ready to believe that the device of debentures had been originally invented by Thomas Batchgrew himself with felonious intent.

An automobile hooted in the street.

"Well, ye'll think it over," said Thomas Batchgrew.

"Oh I _will_!" said Louis eagerly.

And Rachel asked herself, almost shaking--"Is it possible that he is such a simpleton?"

"Only I must know by Tuesday," said Thomas Batchgrew. "I thought I'd give ye th' chance, but I can't keep it open later than Tuesday."

"Thanks, awfully," said Louis. "I'm very much obliged for the offer. I'll let you know--before Tuesday."

Rachel frowned as she folded up the jacket. If, however, the two men could have seen into her mind they would have perceived symptoms of danger more agitating than one little frown.

"Of course," said Thomas Batchgrew easily, with a short laugh, in the lobby, "if it hadna been for _her_ making away with that nine hundred and sixty-odd pound, you'd ha' had a round sum o' thousands to invest. I've been thinking o'er that matter, and all I can see for it is as her must ha' thrown th' money into th' fire in mistake for th' envelope, or with th' envelope. That's all as I can see for it."

Louis flushed slightly as he slapped his thigh.

"Never thought of that!" he cried. "It very probably _was_ that. Strange it never occurred to me!"

Rachel said nothing. She had extreme difficulty in keeping control of herself while old Batchgrew, with numerous senile precautions, took his slow departure. She forgot that she was a hostess and a woman of the world.


III


"Hello! What's that?" Rachel asked, in a self-conscious voice, when they were in the parlour again.

Louis had almost surreptitiously taken an envelope from his pocket,
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