mento rebus in arduis Servare mentem:"--Horace. In the City of Liverpool, on a January day of 1905, the Board-room of "The Island Navigation Company" rested, as it were, after the labours of the afternoon. The long table was still littered with the ink, pens, blottingpaper, and abandoned documents of six persons--a deserted battlefield of the brain. And, lonely, in his chairman's seat at the top end old Sylvanus Heythorp sat, with closed eyes, still and heavy as an image. One puffy, feeble hand, whose fingers quivered, rested on the arm of his chair; the thick white hair on his massive head glistened in the light from a greenshaded lamp. He was not asleep, for every now and then his sanguine cheeks filled, and a sound, half sigh, half grunt, escaped his thick lips between a white moustache and the tiny tuft of white hairs above his cleft chin. Sunk in the chair, that square thick trunk of a body in short blackbraided coat seemed divested of all neck. Young Gilbert Farney, secretary of "The Island Navigation Company," entering his hushed Board-room, stepped briskly to the table, gath