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squaring himself in his comfortable arm-chair, and extending his legs before the cheery fire, "let us have a little friendly chat. I am not given to beating about the bush, you know, and whatever I have to say I shall say in very plain words. In the first place, I hope you have not so poor an opinion of my perceptive faculties as to suppose that I don't see what is going on between you and Miss Lotta yonder."

"My dear Mr. Sheldon, I--"

"Hear what I have to say first, and make your protestations afterwards. You needn't be alarmed; you won't find me quite as bad as the stepmother one reads about in the story-books, who puts her stepdaughter into a pie, and all that kind of thing. I suppose stepfathers have been a very estimable class, by the way, as it is the stepmother who always drops in for it in the story-books. You'll find mo very easy to deal with, Mr. Hawkehurst, always provided that you deal in a fair and honourable manner."

"I have no wish to be underhand in my dealings," Valentine said boldly. And indeed this was the truth. His inclination prompted him to candour, even with Mr. Sheldon; but that fatal necessity which is the governing principle of the adventurer's life obliged him to employ the arts of finesse.

"Good," cried Mr. Sheldon, in the cheery, pleasant tone of an easy-going man of the world, who is not too worldly to perform a generous action once in a way. "All I ask is frankness. You and Charlotte have fallen in love with one another--why, I can't imagine, except on the hypothesis that a decent-looking young woman and a decent-looking young man can't meet half a dozen times without beginning to think of Gretna-green, or St. George's, Hanover-square. Of course a marriage with you, looked at from a common-sense point of view, would be about the worst thing that could happen to my wife's daughter. She's a very fine girl" (a man of the Sheldonian type would call Aphrodité herself a fine girl), "and might marry some awfully rich City swell with vineries and pineries and succession-houses at Tulse-hill or Highgate, if I chose to put her in the way of that sort of thing. But then, you see, the worst of it is, a man seldom comes to vineries and pineries at Tulse-hill till he is on the shady side of forty; and as I am not in favour of mercenary marriages, I don't care to force any of my City connection upon poor Lotta. In the neighbourhood of the Stock Exchange there is no sharper man of business than your humble servant; but I don't care to bring business habits to Bayswater. Long before Lotta left school, I had made up my mind never to come between her and her own inclination in the matrimonial line; therefore, if she truly and honestly loves you, and if you truly and honestly love her, I am not the man to forbid the bans."

"My dear Mr. Sheldon, how shall I ever thank you for this!" cried Valentine, surprised into a belief in the purity of the stockbroker's intentions.

"Don't be in a hurry," replied that gentleman coolly; "you haven't heard me out yet. Though I may consent to take the very opposite line of conduct which I might be expected to take as a man of the world, I am not going to allow you and Charlotte to make fools of yourselves. There must be no love-in-a-cottage business, no marrying on nothing a year, with the expectation that papa and mamma will make up the difference between that and a comfortable income. In plain English, if I consent to receive you as Charlotte's future husband, you and she must consent to wait until you can, to my entire satisfaction, prove yourself in a position to keep a wife." Valentine sighed doubtfully.

"I don't think either Miss Halliday or I are in an unreasonable hurry to begin life together," he said thoughtfully; "but there must be some fixed limit to our probation. I am afraid the waiting will be a very long business, if I am to obtain a position that will satisfy you before I ask my dear girl to share my fate."

"Are your prospects so very black?"

"No; to my mind they seem wonderfully bright. But the earnings of a magazine-writer will scarcely come up to your idea of an independence. Just now I am getting about ten pounds a month. With industry, I may stretch that ten to twenty; and with luck I might make the twenty into thirty--forty--fifty. A man has only to achieve something like a reputation in order to make a handsome living by his pen."

"I am very glad to hear that," said Mr. Sheldon; "and when you can fairly demonstrate to me that you are earning thirty pounds a month, you shall have my consent to your marriage with Charlotte, and I will do what I can to give you a fair start in life. I suppose you know that she hasn't a sixpence in the world, that she can call her own?"

This was a trying question for Valentine Hawkehurst, and Mr. Sheldon looked at him with a sharp scrutinising glance as he awaited a reply. The young man flushed crimson, and grew pale again before he spoke.

"Yes," he said, "I have long been aware that Miss Halliday has no legal claim on her father's fortune."

"There you have hit the mark," cried Mr. Sheldon. "She has no claim to a sixpence in law; but to an honourable man that is not the question. Poor Halliday's money amounted in all to something like eighteen thousand pounds. That sum passed into my possession when I married my poor friend's widow, who had too much respect for me to hamper my position as a man of business by any legal restraints that would have hindered my making the wisest use of her money. I have used that money, and I need scarcely tell you that I have employed it with considerable advantage to myself and Georgy. I therefore can afford to be generous, and I mean to be so; but the manner in which I do things must be of my own choosing. My own children are dead, and there is no one belonging to one that stands in Miss Halliday's way. When I die she will inherit a handsome fortune. And if she marries with my approval, I shall present her with a very comfortable dowry. I think you will allow that this is fair enough."

"Nothing could be fairer or more generous," replied Valentine with enthusiasm.

Mr. Sheldon's agreeable candour had entirely subjugated him. Despite of all that George had said to his brother's prejudice, he was ready to believe implicitly in Philip's fair dealing.

"And in return for this I ask something on your part," said Mr. Sheldon. "I want you to give me your promise that you will take no serious step without my knowledge. You won't steal a march upon me. You won't walk off with Charlotte some fine morning and marry her at a registry-office, or anything of that kind, eh?"

"I will not," answered Valentine resolutely, with a very unpleasant recollection of his dealings with George Sheldon.

"Give me your hand upon that," cried the stockbroker.

Upon this the two men shook hands, and Valentine's fingers were almost crushed in the cold hard grip of Mr. Sheldon's muscular hand. And now there came upon Valentine's ear the sound of one of Mendelssohn's _Lieder ohne Worte_, tenderly played by the gentle hands he knew so well. And the lover began to feel that he could no longer sit sipping the stockbroker's port with a hypocritical pretence of appreciation, and roasting himself before the blazing fire, the heat whereof was multiplied to an insufferable degree by grate and fender of reflecting steel.

Mr. Sheldon was not slow to perceive his guest's impatience, and having made exactly the impression he wanted to make, was quite willing that the interview should come to an end.

"You had better be off to the drawing-room," he said, good naturedly; "I see you are in that stage of the fever in which masculine society is only a bore. You can go and hear Charlotte play, while I read the evening papers and write a few letters. You can let her know that you and I understand each other. Of course we shall see you very often. You'll eat your Christmas turkey with us, and so on; and I shall trust to your honour for the safe keeping of that promise you made me just now," said Mr. Sheldon.

"And I shall keep an uncommonly close watch upon you and the young lady, my friend," added that gentleman, communing with his own thoughts as he crossed the smart little hall, where two Birmingham iron knights in chain armour bestrode their gallant chargers, on two small tables of sham malachite.

Mr. Sheldon's library was not a very inspiring apartment. His ideas of a _sanctum sanctorum_ did not soar above the commonplace. A decent square room, furnished with plenty of pigeon-holes, a neat brass scale for the weighing of letters, a copying-press, a waste-paper basket, a stout brass-mounted office inkstand capable of holding a quart or so of ink, and a Post-office Directory, were all he asked for his hours of leisure and meditation. In a handsome glazed bookcase, opposite his writing-table, appeared a richly-bound edition of the _Waverley_ _Novels_, Knight's _Shakespeare_, Hume and Smollett, Fielding, Goldsmith, and Gibbon; but, except when Georgy dusted the sacred volumes with her own fair hands, the glass doors of the bookcase were never opened.

Mr. Sheldon turned on the gas, seated himself at his comfortable writing-table, and took up his pen. A quire of office note-paper, with his City address upon it, lay ready beneath his hand; but he did not begin to write immediately. He sat for some time with his elbows on the table, and his chin in his hands, meditating with dark fixed brows.

"Can I trust her?" he asked himself. "Is it safe to have her near me--after--after what she said to me in Fitzgeorge-street? Yes, I think I can trust her, up to a certain point; but beyond that I must be on my guard. She might be more dangerous than a stranger. One thing is quite clear--she must be provided for somehow or other. The question is, whether she is to be provided for in this house or out of it; and whether I can make her serve me as I want to be served?"

This was the gist of Mr. Sheldon's meditations; but they lasted for some time. The question which he had to settle was an important one, and he was too wise a man not to contemplate a subject from every possible point of sight before arriving at his decision. He took a letter-clip from one side of his table, and turned over several open letters in search of some particular document.

He came at last to the letter he wanted. It was written on very common note-paper, with brown-looking ink, and the penmanship was evidently that of an uneducated person; but Mr. Sheldon studied its contents with the air of a man who is dealing with no unimportant missive.

This was the letter which so deeply interested the stockbroker:--

"HONORED SIR--This coms hopping that You and Your Honored ladie are well has it leevs me tho nott so strong has i coud wish wich his nott too bee expect at my time off life my pore neffew was tooke with the tyfus last tewsday weak was giv over on thirsday and we
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