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112 yours of the 20th. In reply, I can only say I fully reciprocate your amiable desire that nothing adverse to either of our companies should happen in South Africa. With regard to your suggestion that we should meet in person, to, discuss the basis of a possible amalgamation, I can only say my house is at present full of guests—as is doubtless your own—and I should therefore find it practically impossible to leave Glen-Ellachie. Fortunately, however, my son David is now at home on a brief holiday from Kimberley; and it will give him great pleasure to come over and hear what you have to say in favour of an arrangement which certainly, on some grounds, seems to me desirable in the interests of both our concessions alike. He will arrive to-morrow afternoon at Seldon, and he is authorised, in every respect, to negotiate with full powers on behalf of myself and the other directors. With kindest regards to your wife and sons, I remain, dear Sir Charles, yours faithfully, '.'

'Cunning old fox!' Sir Charles exclaimed, with a sniff. 'What's he up to now, I wonder? Seems almost as anxious to amalgamate as we ourselves are, Sey.' A sudden thought struck him. 'Do you know,' he cried, looking up, 'I really believe the same thing must have happened to both our exploring parties. They must have found a reef that goes under our ground, and the wicked old rascal wants to cheat us out of it!'