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abruptly in a loud voice, "Do you know that I have paid his gambling debts four times regularly? Regularly with every summer term?"

"It does you honour, John," said Mr. Kirby.

"Ah, then," said Mr. Brassington, with a sudden curious mixture of cunning and firmness in his voice, "I haven't paid the last, though!"

"Oh, you haven't?" said Mr. Kirby, looking up. He smelt complications.

"No, I haven't …! I gave him fair warning," said the elderly merchant, setting his mouth as squarely as possible, but almost sobbing in his heart. "Besides which it 's ruinous."

"I wonder if he gave the young bloods fair warning?" mused Mr. Kirby. "Last Grand National——"

"Oh, Lord, Charles!" burst out Mr. Brassington, uncontrollable. "D'ye know what, what that cub shot me for? Curse it all, Kirby, two thousand pounds!"

"The devil!" said Charles Kirby.

"It is the Devil," said John Brassington emphatically.

And it was, though he little knew it, for