It has been shown that Arnault believed the decisive period to have come that would see the success or failure of his "operation" in the Catskills. Keen, penetrating, he had comprehended the situation clearly. He knew that Stella wished to accept Graydon, and was held in check by financial considerations only. He had seen her manner during the preceding moonlight evening, and with intense anger had observed from a neighboring grove the episode in the summer-house. The twig had not casually parted under his step, but had been snapped between his fingers. Stella's quick alarm and flight had revealed the continuance of his hold upon her fears, if not her heart. From that moment he dismissed all indecision. In bitterness he realized that his prolonged stay in the mountains had not advanced his

