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at five thousand a year； with a fund of ten thousand to draw upon。 You to be employed as secretary and treasurer at fifteen hundred a year。 I will take the paid…up stock； and your father and you will have the privilege of buying it back at par within five years。 Do you follow me？〃
〃I think I understand；〃 was her unexpected reply。 Her replies were usually unexpected； like the expressions of her face and figure； she was continually comprehending where one would have said she would not； and not comprehending where it seemed absurd that she should not。 〃Yes； I understand。 。 。 。 What else？〃
〃Nothing else。〃
She looked intently at him； and her eyes seemed to be reading his soul to the bottom。
〃Nothing else；〃 he repeated。
〃No obligationfor moneyorfor anything？〃
〃No obligation。 A hope perhaps。〃 He was smiling with the gayest good humor。 〃But not the kind of hope that ever becomes a disagreeable demand for payment。〃
She seated herself； her hands in her lap； her eyes downa lovely picture of pensive repose。 He waited patiently； feasting his senses upon her delicate； aromatic loveliness。 At last she said：
〃I accept。〃
He had anticipated an argument。 This promptness took him by surprise。 He felt called upon to explain； to excuse her acceptance。 〃I am taking a little flyer making a gamble；〃 said he。 〃Your father may turn up nothing of commercial value。 Again the company may pay big〃
She gave him a long look through half…closed eyes； a queer smile flitting round her lips。 〃I understand perfectly why you are doing it；〃 she said。 〃Do you understand why I am accepting？〃
〃Why should you refuse？〃 rejoined he。 〃It is a good business prop〃
〃You know very well why I should refuse。 But〃 She gave a quiet laugh of experience； it made him feel that she was making a fool of him〃I shall not refuse。 I am able to take care of myself。 And I want father to have his chance。 Of course； I shan't explain to him。〃 She gave him a mischievous glance。 〃And I don't think YOU will。〃
He contrived to cover his anger； doubt； chagrin； general feeling of having been outwitted。 〃No； I shan't tell him；〃 laughed he。 〃You are making a great fool of me。〃
〃Do you want to back out？〃
What audacity！ He hesitateddid not dare。 Her indifference to himher personal； her physical indifference gave her the mastery。 His teeth clenched and his passion blazed in his eyes as he said： 〃Noyou witch！ I'll see it through。〃
She smiled lightly。 〃I suppose you'll come to the offices of the companyoccasionally？〃 She drew nearer； stood at the corner of the desk。 Into her exquisite eyes came a look of tenderness。 〃And I shall be glad to see you。〃
〃You mean that？〃 he said； despising himself for his humble eagerness； and hating her even as he loved her。
〃Indeed I do。〃 She smiled bewitchingly。 〃You are a lot better man than you think。〃
〃I am an awful fool about you；〃 retorted he。 〃You see； I play my game with all my cards on the table。 I wish I could say the same of you。〃
〃I am not playing a game；〃 replied she。 〃You make a mystery where there isn't any。 Andall your cards aren't on the table。〃 She laughed mockingly。 〃At least； you think there's one that isn'tthough； really； it is。〃
〃Yes？〃
〃About your engagement。〃
He covered superbly。 〃Oh；〃 said he in the most indifferent tone。 〃Tetlow told you。〃
〃As soon as I heard that；〃 she went on； 〃I felt better about you。 I understand how it is with men the passing fancies they have for women。〃
〃How did you learn？〃 demanded he。
〃Do you think a girl could spend several years knocking about down town in New York without getting experience？〃
He smileda forced smile of raillery； hiding sud… den fierce suspicion and jealousy。 〃I should say not。 But you always pretend innocence。〃
〃I can't be held responsible for what you read into my looks and into what I say；〃 observed she with her air of a wise old infant。 〃But I was so glad to find out that you were seriously in love with a nice girl up town。〃
He burst out laughing。 She gazed at him in childlike surprise。 〃Why are you laughing at me？〃 she asked。
〃Nothingnothing；〃 he assured her。 He would have found it difficult to explain why he was so intensely amused at hearing the grand Josephine Burroughs called 〃a nice girl up town。〃
〃You are in love with her？ You are engaged to her？〃 she inquired； her grave eyes upon him with an irresistible appeal for truth in them。
〃Tetlow didn't lie to you；〃 evaded he。 〃You don't know it； but Tetlow is going to ask you to marry him。〃
〃Yes； I knew；〃 replied she indifferently。
〃How？ Did he tell you？〃
〃No。 Just as I knew you were not going to ask me to marry you。〃
The mere phrase； even when stated as a negation； gave him a sensation of ice suddenly laid against the heart。
〃It's quite easy to tell the difference between the two kinds of menthose that care for me more than they care for themselves and those that care for themselves more than they care for me。〃
〃That's the way it looks to youis it？〃
〃That's the way it is；〃 said she。
〃There are some things you don't understand。 This is one of them。〃
〃Maybe I don't；〃 said she。 〃But I've my own ideaand I'm going to stick to it。〃
This amused him。 〃You are a very opinionated and self…confident young lady；〃 said he。
She laughed roguishly。 〃I'm taking up a lot of your time。〃
〃Don't think of it。 You haven't asked when the new deal is to begin。〃
〃Oh； yesand I shall have to tell Mr。 Tetlow I'm not taking the place he got for me。〃
〃Be careful what you say to him；〃 cautioned Norman。 〃You must see it wouldn't be well to tell him what you are going to do。 There's no reason on earth why he should know your businessis there？〃
She did not reply； she was reflecting。
〃You are not thinking of marrying Tetloware you？〃
〃No；〃 she said。 〃I don't love himand couldn't learn to。〃
With a sincerely judicial air； now that he felt secure； he said： 〃Why not？ It would be a good match。〃
〃I don't love him；〃 she repeated； as if that were a sufficient and complete answer。 And he was astonished to find that he so regarded it； also； in spite of every assault of all that his training had taught him to regard as common sense about human nature。
〃You can simply say to Tetlow that you've decided to stay at home and take care of your father。 The offices of the company will be at your house。 Your official duties practically amount to taking care of your father。 So you'll be speaking the truth。〃
〃Oh； it isn't exactly lying； to keep something from somebody who has no right to know it。 What you suggest isn't quite the truth。 But it's near enough； and I'll say it to him。〃
His own view of lying was the same as that she had expressed。 Also； he had no squeamishness about saying what was in no sense true； if the falsehood were necessary to his purposes。 Yet her statement of her code； moral though he thought it and eminently sensible as well； lowered her once more in his estimation。 He was eager to find reason or plausible excuse for believing her morally other and less than she seemed to be。 Immediately the prospects of his ultimate projects whatever they might prove to betook on a more hopeful air。 〃And I'd advise you to have Tetlow keep away from you。 We don't want him nosing round。〃
〃No； indeed；〃 said she。 〃He is a nice man； but tiresome。 And if I encouraged him ever so little； he'd be sentimental。 The most tiresome thing in the world to a girl is a man who talks that sort of thing when she doesn't want to hear itfrom him。〃
He laughed。 〃Meaning me？〃 he suggested。
She nodded； much pleased。 〃Perhaps；〃 she replied。
〃Don't worry about that；〃 mocked he。
〃I shan't till I have to；〃 she assured him。 〃And I don't think I'll have to。〃
On the Monday morning following； Tetlow came in to see Norman as soon as he arrived。 〃I want a two weeks' leave；〃 he said。 〃I'm going to Bermuda or down there somewhere。〃
〃Why； what's the matter？〃 cried Norman。 〃You do look ill； old man。〃
〃I saw her last night；〃 replied the chief clerk； dropping an effort at concealing his dejection。 〃She she turned me down。〃
〃Really？ You？〃 Norman's tone of sympathetic surprise would not have deceived half attentive ears。 But Tetlow was securely absorbed。 〃Why； Billy； she can't hope to make as good a match。〃
〃That's what I told herwhen I saw the game was going against me。 But it was no use。〃
Norman trifled nervously with the papers before him。 Presently he said； 〃Is it some one else？〃
Tetlow shook his head。
〃How do you know？〃
〃Because she said so；〃 replied the head clerk。
〃Ohif she said so； that settles it；〃 said Norman with raillery。
〃She's given up workthank God；〃 pursued Tetlow。 〃She's getting more beautiful all the time Norman； if you had seen her last night； you'd understand why I'm stark mad about her。〃
Norman's eyes were down。 His hands； the muscles of his jaw were clinched。
〃But； I mustn't think of that；〃 Tetlow went on。 〃As I was about to say； if she were to stay on in the offices some onesome attractive man like you； only with the heart of a scoundrel〃
Norman laughed cynically。
〃Yes； a scoundrel！〃 reiterated the fat head…clerk。 〃Some scoundrel wo