tickets, and lied to my carmen--the pretty girls imagine they have
deceived me. They have merely amused me. My detective reports are
excellent reading. And, moreover, I like to think that I have helped a
pretty girl to make the best of herself.'

'Immoral and unbusinesslike, Mr. Hugo.'

'Admitted. I have no doubt that if I put the screw on all round I could
quite justifiably increase my profits by fifty per cent.'

'That shows what a splendid prospect a limited company would have.'

'Yes, doesn't it?' said Hugo joyously.

'But why are your clients so anxious to turn me into a limited
company?'

'They see in your undertaking,' replied Polycarp, folding his thin
hands, 'a legitimate opening for that joint-stock enterprise which has
had such a beneficial effect on England's prosperity.'

'They would make a profit?'

'A reasonable profit. A small syndicate would be formed to buy from you,
and that syndicate would sell to a public company. The usual thing.'

'And where do I come in?'

'Where do you come in, my dear Mr. Hugo? Everywhere! You would receive
over a million in cash. You would have your salary and your percentage,