the report, bracketed by itself in the Secretary's neat hand:

INTEREST CHARGE.

First mortgage (1873) .. $1,000 ... (E. Winch) @7.. $ 70
Second mortgage (1776).. 1,700 ... (L. Gorringe) @6.. 102
Third mortgage (1878)... 2,100 ... (L. Pierce) @7.. 147
------- -----
$4,800 $319

It was no news to him that the three mortgages on the church property
were held by the three trustees. But as he looked once more, another
feature of the thing struck him as curious.

"I notice that the rates of interest vary," he remarked without
thinking, and then wished the words unsaid, for the two trustees in view
moved uneasily on their seats.

"Oh, that's nothing," exclaimed Erastus Winch, with a boisterous display
of jollity. "It's only Brother Gorringe's pleasant little way of making
a contribution to our funds. You will notice that, at the date of all
these mortgages, the State rate of interest was seven per cent. Since
then it's b'en lowered to six. Well, when that happened, you see,
Brother Gorringe, not being a professin' member, and so not bound by our
rules, he could just as well as not let his interest down a cent. But
Brother Pierce an' me, we talked it over, an' we made up our minds
we were tied hand an' foot by our contract. You know how strong the
Discipline lays it down that we must be bound to the letter of our
agreements. That bein' so, we seen it in the light of duty not to change
what we'd set our hands to. That's how it is, Brother Ware."