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 to listen. I have found out the trick you tried to play on us yesterday. We spent last night with Mr. Hilliard. So don't try to go on with that."

Philip was somewhat surprised at his own daring. But those were the words that came, and I have set them down just as he spoke them.

"O, indeed," said the other, throwing his cigar over the rail. "Really, I presumed you must have done that by this time. I'd no intention of 'going on' with that business, I promise you. You see, Touchtone, I've concluded that you are about as sensible and clear-headed a fellow of your age as ever lived! It will be much better for me to be honest and confidential with you than to—well, to try any such little devices as I thought advisable yesterday. To begin, my name isn't Hilliard, as you know—"

"I should think I did!" ejaculated Philip.

"So you will please call me Mr. Belmont, of New York—John Alexander Belmont, at our mutual service. And, by the bye, Touchtone, I must tell you another thing. I knew your father, Reginald Touchtone, pretty well