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 Lolly, and I have administered it as I thought fit."

"Go on," said Laura.

"In 1920 I transferred the greater part of it to the Ethiopian Development Syndicate, a perfectly sound investment which will in time be as good as ever, if not better. Unfortunately, owing to this Government and all this socialistic talk the soundest investments have been badly hit. The Ethiopian Development Syndicate is one of them."

"Go on, Henry. I have understood quite well so far. You have administered all my money into something that doesn't pay. Now explain why you did this."

"I had every reason for thinking that I should be able to sell out at a profit almost immediately. During November the shares had gone up from 5 to 8. I bought in December at 8. They went to 8 and since then have steadily sunk. They now stand at 4. Of course, my dear, you needn't be alarmed. They will rise again the moment we have a Conservative Government, and that, thank Heaven, must come soon. But you see at present it is out of the question for you to think of leaving us."

"But don't these Ethiopians have dividends?"