"It is not pleasant to have to go hat in hand borrowing money, but there are times, as you may find before you are my age, Westmacott, when a man must stow away his pride. But here's their number, and their plate is on the corner of the door."A narrow entrance was flanked on either side by a row of brasses, ranging upwards from the shipbrokers and the solicitors who occupied the ground floors, through a long succession of West Indian agents, architects, surveyors, and brokers, to the firm of which they were in quest. A winding stone stair, well carpeted and railed at first but growing shabbier with every landing, brought them past innumerable doors until, at last, just under the ground-glass roofing, the names of Smith and Hanbury were to be seen painted in large white letters across a panel, with a laconic invitation to push beneath it. Following out the suggestion, the Admiral and his companion found themselves in a dingy apartment, ill lit from acouple of glazed windows. An ink-stained table, littered with pens, papers, and almanacs, an American cloth sofa, three chairs of varying patterns, and a much-worn carpet, constituted all the furniture, save only a very large and obtrusive porcelain spittoon, and a gaudily framed and very somber picture which hung above the fireplace. Sitting in front of this picture, and staring gloomily at it, as being the only thing which he could stare at, was a small sallow-faced boy with a large head, who in the intervals of his art studies munched sedately at an apple.

"Is Mr. Smith or Mr. Hanbury in?" asked the Admiral. "There ain't no such people," said the small boy.

"But you have the names on the door."

"Ah, that is the name of the firm, you see. It's only a name. It's Mr. Reuben Metaxa that you wants.""Well then, is he in?" "No, he's not."

"When will he be back?"

"Can't tell, I'm sure. He's gone to lunch. Sometimes he takes one hour, and sometimes two. It'll be two to-day, I 'spect, for he said he was hungry afore he went.""Then I suppose that we had better call again, " said the Admiral.

"Not a bit," cried Charles. "I know how to manage these little imps. See here, you young varmint, here's a shilling for you. Run off and fetch your master. If you don't bring him here in five minutes I'll clump you on the side of the head when you get back. Shoo! Scat!" He charged at the youth, who bolted from the room and clattered madly down-stairs.

"He'll fetch him," said Charles. "Let us make ourselves at home. This sofa does not feel over and above safe. It was not meant for fifteen- stone men. But this doesn't look quite the sort of place where one would expect to pick up money.""Just what I was thinking," said the Admiral, looking ruefully about him.

"Ah, well! I have heard that the best furnished offices generally belong to the poorest firms. Let us hope it's the opposite here. They can't spend much on the management anyhow. That pumpkin-headedboy was the staff, I suppose.Ha, by Jove, that's his voice, and he's got our man, I think!"As he spoke the youth appeared in the doorway with a small, brown, dried-up little chip of a man at his heels. He was clean-shaven and blue- chinned, with bristling black hair, and keen brown eyes which shone out very brightly from between pouched under-lids and drooping upper ones. He advanced, glancing keenly from one to the other of his visitors, and slowly rubbing together his thin, blue-veined hands. The small boy closed the door behind him, and discreetly vanished.

"I am Mr. Reuben Metaxa," said the moneylender. "Was it about an advance you wished to see me?""Yes."

"For you, I presume?" turning to Charles Westmacott. "No, for this gentleman."The moneylender looked surprised."How much did you desire?" "I thought of five thousand pounds," said the Admiral.

"And on what security?"

"I am a retired admiral of the British navy. You will find my name in the Navy List. There is my card. I have here my pension papers. I get L850 a year. I thought that perhaps if you were to hold these papers it would be security enough that I should pay you. You could draw my pension, and repay yourselves at the rate, say, of L500 a year, taking your five per cent interest as well.""What interest?"

"Five per cent per annum.

Mr. Metaxa laughed. "Per annum!" he said. "Five per cent a month.""A month!That would be sixty per cent a year." "Precisely.""But that is monstrous."

"I don't ask gentlemen to come to me. They come of their own free will. Those are my terms, and they can take it or leave it.""Then I shall leave it."The Admiral rose angrily from his chair.

"But one moment, sir.Just sit down and we shall chat the matter over.

Yours is a rather unusual case and we may find some other way of doing what you wish. Of course the security which you offer is no security at all, and no sane man would advance five thousand pennies on it.""No security?Why not, sir?"

"You might die to-morrow. You are not a young man. What age are you?""Sixty-three."