he said:—"You bought to-day, Mr. Holloway, a number that I wanted. Do you mind letting me have it?" Holloway took out the parcel, looked over the drawings, and said that he had bought the number for the sake of the Rembrandt, which he thought possibly genuine; taking that out, Adams might have the rest for the price he paid for the lot,—twelve shillings.
Thus, down to that moment, every expert in London had probably seen these drawings. Two of them,—only two,—had thought them worth buying at any price, and of these two, Palgrave chose the Rafael, Holloway the one marked as Rembrandt. Adams, the purchaser of the Rafael, knew nothing whatever on the subject, but thought he might credit himself with education to the value of twelve shillings, and call the drawing nothing. Such items of education commonly came higher.
He took the drawing to Palgrave. It was closely pasted to an old, rather thin, card-board mount, and, on holding it up to the window, one could see lines on the reverse. "Take it down to Reed at the British Museum," said Palgrave; "he is Curator of the drawings, and, if you ask him, he will have it taken off the mount." Adams amused himself for a day or two by searching Rafael's works for the figure, which he found at last in the Parnasso, the figure of Horace, of which, as it happened—though Adams did not know it—the British Museum owned a much finer drawing. At last he took the dirty, little, unfinished red-chalk sketch to Reed whom he found in the Curator's room, with some of the finest Rafael drawings in existence, hanging on the walls. "Yes!" said Mr. Reed; "I noticed this at the sale; but it's not Rafael!" Adams feeling himself incompetent to discuss this subject, reported the result to Palgrave, who said that Reed knew nothing about it. Also this point lay beyond Adams's competence; but he noted that Reed was in the employ of the British Museum as Curator of the best—or nearly the best—collection in the world, especially of Rafaels, and that he bought for the Museum. As expert he had rejected both the Rafael and the Rembrandt at first-sight, and after his attention was recalled to the Rafael for a further opinion he rejected it again.
A week later, Adams returned for the drawing, which Mr. Reed took out of his drawer and gave him, saying with what seemed a little doubt or hesitation:—"I should tell you that the paper shows a water-
