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Rh kindly placed at her disposal, unless he would wait a few weeks longer, when she could join him, as the time of pilgrimage would be over. We both regarded this letter as a polite intimation that the incident was closed. Either O Maru had misled her friend when she assured him that her uncle wished her to take the opportunity of travelling with a "noble-hearted person," or the old man had formed other plans for his niece's future which did not concern us. In either case Borega Sama resolved to finish the matter. He wrote briefly but plainly, being a little sore at so much tergiversation, that he had no wish to inconvenience any of his kind friends at Ishinomaki, whom he should always remember with grateful pleasure, and, if he ever returned to Sendai, would revisit them. Then he turned his attention to prints and curios.

Many circumstances render the collector's life particularly exciting at the present time. Good finds become scarcer every year; the chief dealers in Tōkyō and Kyōto send their agents not only all over Japan, but also to Europe in the hope of redeeming lost treasures. Sometimes an old family or impoverished temple is compelled by misfortune to part with the works of old masters; sometimes the new masters of the art of forgery palm off surprising imitations which deceive even the elect. The jealousy of rival collectors, the artifices of rival dealers, the uncertainty of losing by one purchase what you gain through another—all these aspects of the game render it quite as amusing as other forms of speculation. To Beauregard the beauty of his favourite designs naturally outweighed their commercial value, but it was impossible to escape the fury of competition which disturbed the attaché in his bureau and the professor in his