When they returned to the cottage they found Thigh and Frank were turning over the pages of the last number of the Pilgrim.

“Just let’s go through the paper,” said Frank.  “One, two, three—­twelve columns of paragraphs! and I’ll bet that in every one of those columns there is a piece of news artistic, political, or social, which no other paper has got.  Here are three articles, one written by our friend here, one by me, and one by a man whose name I am not at liberty to mention; but I may tell you he has written some well-known books, and is a constant contributor to the Fortnightly; here is a column of gossip from Paris excellently well done; here is a short story ...  What do you think the paper wants?”

Thigh was a very small and very neatly-dressed man.  His manner was quiet and reserved, and he caressed a large fair moustache with his left hand, on which a diamond ring sparkled.

“I think it wants smartening up all round,” he said.  “You want to make it smarter; people will have things bright nowadays.”

“Bright!” said Frank; “I don’t know where you are going for brightness nowadays.  Just look at the other papers—­here is the Club—­did you ever see such a rag?  Here is the Spy—­I don’t think you could tell if you were reading a number of last year or this week if you didn’t look at the date!  I’ve given them up for news.  I look to see if they have got a new advertisement; if they have, I send Tomlinson and see if I can get one too.”

Thigh made some judicious observations, and the conversation was continued during dinner.  Frank and Mike vying with each other to show their deference to Thigh’s literary opinions—­Lizzie eager to know what he thought of her dinner.

Thigh said the turbot was excellent, that the cutlets were very nice, that the birds were splendid; the jam pudding was voted delicious.  And they leaned back in their chairs, their eyes filled with the torpor of digestion.  Frank brought out a bottle of old port, the last of a large supply which he had had from Mount Rorke’s wine merchant.  The pleasure of the wine was in their stomachs, and under its influence they talked of Tennyson, Leonardo da Vinci, Corot, and the Ingoldsby Legends.  The servant had brought in the lamp, cigars were lighted, the clock struck nine.  As yet not a word had been spoken of the business, and seeing that Mike was deep in conversation with Lizzie, Frank moved his chair towards Thigh, and said—­

“Well, what about buying half of the paper?”

“I’m quite ready to buy half the paper on the conditions I’ve already offered you.”

“But they won’t do.  If I have to go smash, I may as well go smash for a large sum as a small one.  To clear myself of debts I must have five hundred pounds.”

“Well, you’ll get six hundred; you’ll receive a thousand and you’ll give me back four hundred.”

“Yes, but I did not tell you that I have sold a small share in the paper to an old schoolfellow of mine.  When I have paid him I shall have only two hundred, and that won’t be of the slightest use to me.”