In digging up the Carteret history I shall not take you farther back than the year 1620. The two original American Carterets came over in that year, but by different means of transportation. One brother, named John, came in the Mayflower and became a Pilgrim Father. You've seen his picture on the covers of the Thanksgiving magazines, hunting turkeys in the deep snow with a blunderbuss. Blandford Carteret, the other brother, crossed the pond in his own brigantine, landed on the Virginia coast, and became an F.F.V. John became distinguished for piety and shrewdness in business; Blandford for his pride, juleps; marksmanship, and vast slave-cultivated plantations.

Then came the Civil War. (I must condense this historical interpolation.) Stonewall Jackson was shot; Lee surrendered; Grant

toured the world; cotton went to nine cents; Old Crow whiskey and Jim Crow cars were invented; the Seventy-ninth Massachusetts Volunteers returned to the Ninety-seventh Alabama Zouaves the battle flag of Lundy's Lane which they bought at a second-hand store in Chelsea kept by a man named Skzchnzski; Georgia sent the President a sixty-pound watermelon--and that brings us up to the time when the story begins. My! but that was sparring for an opening! I really must brush op on my Aristotle.

The Yankee Carterets went into business in New York long before the war. Their house, as far as Leather Belting and Mill Supplies was concerned, was as musty and arrogant and solid as one of those old East India tea-importing concerns that you read about in Dickens. There were some rumors of a war behind its counters, but not enough to affect the business.

During and after the war, Blandford Carteret, F.F.V., lost his plantations, juleps, marksmanship, and life. He bequeathed little more than his pride to his surviving family. So it came to pass that Blandford Carteret, the Fifth, aged fifteen, was invited by the leather-and-millsupplies branch of that name to come North and learn business instead of hunting foxes and boasting of the glory of his fathers on the reduced acres of his impoverished family. The boy jumped at the chance; and, at the age of twenty-five, sat in the office of the firm equal partner with John, the Fifth, of the blunderbuss-and-turkey branch. Here the story begins again.

The young men were about the same age, smooth of face, alert, easy of manner, and with an air that promised mental and physical quickness. They were razored, blue-serged, straw-hatted, and pearl stick-pinned like other young New Yorkers who might be millionaires or bill clerks.

One afternoon at four o'clock, in the private office of the firm, Blandford Carteret opened a letter that a clerk had just brought to his desk. After reading it, he chuckled audibly for nearly a minute. John looked around from his desk inquiringly.

"It's from mother," said Blandford. "I'll read you the funny part of it. She tells me all the neighborhood news first, of course, and then cautions me against getting my feet wet and musical comedies. After that come some vital statistics about calves and pigs and an estimate of the wheat crop. And now I'll quote some:

(Editor：theory)