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Second, he discovered that stealing involves lying, and that one lie requires others. What would he say if anyone had seen him? He had thought that the letter was in the pigeonhole of his own room. A mere mistake in numbers, that was all. But why had he not asked the clerk for the letter? Well, he had seen the clerk busy talking with the young lady. What were the chances that the clerk would know the name of Budd, and realize that Budd and Zaharoff were rivals for the armaments trade of the world?

Third, the moral confusion. Lanny had always been a good little boy, and had done what his parents asked him, and so had never had any serious pangs of conscience. But now - should he have done it or not? Did one bad turn deserve another? Should you really fight the devil with fire? After all, who was going to punish Zaharoff if Lanny didn't? The police? Robbie had said that Zaharoff could do anything with the police that he chose - was he not the richest man in France and an officer of the Legion of Honor?

Lanny wished that his father would come and decide the matter for him. But the father didn't come; he had a deal to discuss, and might be gone for a long time. If Lanny got hungry, he was to go to the restaurant of the hotel and have his supper. But Lanny didn't think he'd ever be hungry again. He sat and tried to figure out, was he ashamed of himself or was he proud? It was the famed New England conscience at work, a long way from home.

He tried to imagine what might be in that letter. His fancy went off on excursions wild as the Arabian Nights. The agent who had stolen Robbie's portfolio from the ship was waiting to tell what he had found, and where it was now hidden; Robbie and Lanny would go at once to the place, and with the help of the Budd automatic would retrieve the property. The shape of the envelope suggested that the letter might be from a lady. Perhaps a woman spy - Lanny knew about them from a recent American movie.

What might the handwriting reveal? After many cautious glances Lanny took out the letter and, keeping it covered by his book, studied the inscription. Yes, undoubtedly a woman's. Lanny held the book and letter up to his nose; still less doubt now. The old rascal, living in this fashionable hotel with his duquesa, was receiving assignation notes from another woman! Lanny knew about such doings, not merely from movies, but from gossip of his mother's friends. He had heard how politicians and others were trapped and plundered by blackmailers. Robbie would let Zaharoff know that he had this incriminating document in his hands, and Robbie's property would be returned to him by a messenger who would neither ask nor answer questions.

Persons came into the hotel, and others departed; Lanny watched them all. Some took seats and chatted, and Lanny tried to hear what they were saying; from now on he was surrounded by intrigues, and any chance phrase might reveal something. Two ladies sat near him, and talked about the races, and about a skirt cut in the new fashion, with slits on the side. They were shallow creatures, heedless of the undeclared war now going on in Europe, Lanny got up and moved to another chair.

Presently came a sight which he had been expecting. Through the revolving glass doors of the entrance strode a large figure in a voluminous black frock coat, with a black silk tower on his head. The doorman in gorgeous uniform was revolving the doors for him, lest he have to make even that much effort with his hands. The bellhops leaped to attention, the clerk stood like a statue of gentility, the conversation in the lobby fell to whispers, the whole world was in suspense as the munitions king strode down the pathway of red velvet, smelling his way with his prominent hooked nose.

He stopped at the desk. Lanny was too far away to hear a word that was spoken, but he could understand the pantomime just as well. The clerk turned and took a letter from a pigeonhole and handed it to the great man with a respectful bow and murmur. The great man looked at it, then handed it back to the clerk. The clerk looked at it and registered surprise. He turned hastily and began taking other letters from pigeonholes and looking at them. Finally he turned to the great man with more bows and murmurings. The great man stalked to the lift and disappeared.

IX

Robbie came at last; and Lanny said quickly: "Something has happened. I want to tell you about it." They went up to the room, and Lanny looked around, to be sure they were alone. "Here's a letter for Zaharoff," he said, and held it out to his father.

The other was puzzled. "How did you get it?"

"I took it out of his box downstairs. Nobody saw me."

Even before the father said a word, almost before he had time to comprehend the idea, Lanny knew that he shouldn't have done it; he wished he hadn't done it.

"You mean," said Robbie, "you stole this from the hotel desk?"

"Well, Robbie, he stole your papers, and I thought this might refer to them."

Robbie was looking at his son as if he couldn't quite grasp what he was hearing. It was most uncomfortable for Lanny, and the blood began burning in his cheeks. "Whatever put that into your head, son?"

"You did, Robbie. You said you would fight the old devil with his own Greek fire."

"Yes, Lanny - but to steal!"

"You have had papers stolen for you - at least I got that idea, Robbie. You told me you had got some papers belonging to that Prince Vanya, or whoever it was, in Russia."

"Yes, son; but that was different."

A subtle point, hard for a boy to get. There were things you hired servants to do, detectives and that sort of persons, whose business it was. But you wouldn't do these things yourself; your dignity was offended by the very thought of doing them. Lanny had stepped out of his class as a gentleman.

Robbie stood staring at the piece of fashionable stationery, addressed in a lady's handwriting; and the boy's unhappiness grew. "I honestly thought I'd be helping you," he pleaded.

The father said: "Yes, I know, of course. But you made a mistake."

Another pause, and Robbie inquired: "Do you know if Zaharoff has come back to the hotel?" When Lanny answered that he had, the father said: "I think you must take this letter to him."

"Take it, Robbie?"

"Tell him how you got it, and apologize."

"But, Robbie, how awful! What excuse can I give?"

"Don't give any excuse. Tell him the facts."

"Shall I tell him who I am?"

"That's a fact, isn't it?"

"Shall I tell him that you think he stole your papers?"

"That's a fact, too."

Lanny saw that his father was in an implacable mood; and, rattled as the boy was, he had sense enough to know what it meant. Robbie wished to teach him a lesson, so that he wouldn't turn into a thief. "All right," he said. "Whatever you say."

He took the letter and started toward the door. Then, an idea occurring to him, he turned. "Suppose he beats me?"

"I don't think he'll do that," replied the other. "You see, he's a coward."

X

Lanny went by the stairway, not wanting anybody to see him. He knew the room number. He knocked, and to a young man who came to the door he said: "I have a letter for M. Zaharoff."

"May I have it, please?" asked the man.

"I have to hand it to him personally."

The secretary took him in with practiced professional eye. "Will you give me your name?"

"I would rather give it to M. Zaharoff. Just tell him, please, that I have a letter which I must put into his hands. It'll only take a moment."

Perhaps the secretary saw about Lanny Budd those signs which are not easy to counterfeit, and which establish even a youngster as entitled to consideration. "Will you come in, please?" he said, and the lad entered a drawing room full of gilt and plush and silk embroidery and marble and ormolu - all things which fortify the self-esteem of possessors of wealth. Lanny waited, standing. He didn't feel at home and didn't expect to.

In a minute or two a door was opened, and the master of Europe came in. He had changed his ugly broadcloth coat for a smoking jacket of green flowered silk. He came about halfway and then said: "You have a message for me?" The boy was surprised by his voice, which was low and well modulated; his French was perfect.

"M. Zaharoff," said Lanny, with all the firmness he could summon, "this is a letter of yours which I stole. I have brought it to you with my apologies."

The old man was so surprised that he did not put out his hand for the letter. "You stole it?"

"My father told me that you caused his portfolio to be stolen, so I thought I would pay you back. But my father does not approve of that, so I am bringing the letter."

The old spider sensed a trembling in his web. Such a trembling may be caused by something that spiders eat, or again it may be caused by something that eats spiders. The cold blue eyes narrowed. "So your father thinks that I employ thieves?"

"He says that is your practice; but he doesn't want it to be mine."

"Did he tell you to tell me that?"

"He told me that whatever questions you asked me I was to answer with the facts."

This, obviously, was something which might be of importance. Wariness and concentration were in every feature of Basil Zaharoff. He knew how to watch and think, and let the other person betray himself. But Lanny had said his say, and continued to hold the letter.

So finally the munitions king took it; but he did not look at it. "May I ask your name, young man?"

"My name is banning Prescott Budd."

"Of Budd Gunmakers Corporation?"

"That is my family, sir."

"Your father is Robert Budd, then?"

"Yes, sir."

Another silence; Lanny had the feeling that everything that had ever been in his soul was being read and judged. He felt sure that the prominent hooked nose was smelling him. "Have a seat, please," said the old man, at last.

Lanny seated himself on the front half of a chair, and the Greek sat near. He examined the letter, then opened it slowly. A smile re-

lieved the concentration on his face, and he handed the document to the boy, saying: "Oblige me, please."

Lanny thought it was his duty to read it. It said, in French:

"The Marquise des Pompailles requests the pleasure of the company of M. Zaharoff and the Duquesa de Villafranca to tea at five this afternoon to meet the Prince and Princess von Glitzenstein."

"A little late," said the munitions king dryly.

"I am sorry, sir," murmured Lanny, his face burning.

"We should not have gone," said the other. In all Lanny's imaginings, it had never occurred to him that an old Greek devil might have a sense of humor; but it was now plain that he did. His lips smiled; but oddly enough, Lanny felt that the blue eyes were not smiling; They still watched.

"Thank you, sir," said Lanny, returning the letter.

Another silence. Finally the old gentleman remarked: "So Robert Budd thinks I have had his portfolio stolen! May I inquire where this happened?"

"On board the steamer Pharaoh, sir."

"The thief has not yet reported to me; but as soon as he does, I promise that I will return the property unopened - just as you have done with mine. You will tell your father that?"

"Certainly, sir. Thank you." Lanny was quite solemn about it, and only afterward did he realize that Zaharoff had been "spoofing" him.

"And you won't feel that you have to intercept any more of my invitations?"

"No, sir."

"You are going to be an honorable and truthtelling young gentleman from now on?"

"I will try, sir," said Lanny.

"I, too, used to have the same thought upon occasions," said the munitions king. Was it wistfulness or was it humor in his soft voice? "However, I found that it would be necessary for me to retire from my present business - and unfortunately it is the only one I have."

Lanny didn't know how to reply, so there was another silence.

When Zaharoff spoke again, it was in a business-like tone. "Young man, you say that your father told you to state the facts."

"Yes, sir."

"Then tell me: does your father wish to see me?"

"Not that I know of, sir."

"You don't think that he sent you here for that purpose?"

Lanny was taken aback. "Oh, no, sir!" he exclaimed. Then realizing the full implication of the question, he decided to fight back, "My father once told me about Bismarck - who said that the way he fooled people was by telling them the truth."

The old man smiled again. "You are a clever lad," said he; "but don't let Bismarck fool you with nonsense like that. Do you think your father would object to seeing me?"

"I don't know why he should, sir."

Zaharoff had in his hand the letter from the Marquise des Pom-pailles. He went to the escritoire and sat down and did some writing on it. Then he handed this to the boy, saying: "Read it again." Lanny saw that Zaharoff had marked out some of the words and. written others over them. He read:

"M. Basil Zaharoff requests the pleasure of the company of JVL Robert Budd and his son to tea this afternoon to discuss the problems of the armaments industry."

XI

The duquesa did not appear for the occasion. The waiter who brought the tray poured whisky and soda for the two gentlemen,, and tea for Lanny; then he retired with quick bows.

The peasant boy from Asia Minor had become a citizen of whatever country he was in; so now he was an American businessman, using American business language. He sat erect and spoke with decision. He said that while he had never met Mr. Budd, he had watched him from a distance and admired him. Zaharoff himself had been a "hustler" in his time, although the Americans had not yet taught him that word. He said that the leaders of the armaments industry ought to understand one another, because theirs was the only trade in which competitors helped instead of harming. The more armaments one nation got, the more the other nations were compelled to get. "We are all boosters for one another, Mr. Budd."

It was flattering to be called one of the leaders of the armaments industry, but Robbie tried not to feel too exalted. He said that the future of the industry had never looked so bright to him as it did just then; they could all afford to be "bullish." The other replied that he could say even more than that; they were going to have to learn to go into a new element, the air. Robbie agreed with this also. Basil Zaharoff forgot now and then that he was an American, and set down his glass and rubbed his hands together, slowly and thoughtfully.

He soon made it clear why he had asked for a conference. He looked at Robbie and then at Lanny, and said: "I suppose this bright little man never talks about his father's affairs?" Robbie answered that whatever mistakes the little man might make, he would never make that one.

Tactfully, and with many flatteries, the Greek trader declared that he had conceived a great admiration for the methods of New England Yankees. He wanted to do for Mr. Budd what he had done nearly forty years ago for the Maine Yankee named Maxim. He gave Mr. Budd to understand that he was prepared to make him an excellent proposition; he added that he meant those words in the most generous sense; he made a gesture of baring his heart.

Robbie answered with equal courtesy that he appreciated this honor, but was unfortunately compelled to decline it. No, it was not merely that he was under contract; it was a question of home ties and loyalties. Zaharoff interrupted him, urging him to think carefully; his offer would not merely satisfy Mr. Budd, but even surprise him. The business he was doing at present would be small indeed compared to what he could do if he would join forces with Vickers, Limited. The whole world was open to them "Mr. Zaharoff," said the younger man, "you must understand that Budds have been making small arms for some eighty years, and it's a matter of prestige with us. I am not just a munitions salesman, but a member of a family."

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