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"I shouldn't, Comrade Wilberfloss. Cables are expensive, and in these hard times a penny saved is a penny earned. Why worry Comrade White? He is so far away, so out of touch with our New York literary life. I think it is practically a certainty that he has not the slightest inkling of any changes in the paper."

Mr. Wilberfloss uttered a cry of triumph.

"I knew it," he said, "I knew it. I knew you would give up when it came to the point, and you were driven into a corner. Now, perhaps, you will admit that Mr. White has given no sanction for the alterations in the paper?"

A puzzled look crept into Psmith's face.

"I think, Comrade Wilberfloss," he said, "we are talking at cross-purposes. You keep harping on Comrade White and his views and tastes. One would almost imagine that you fancied that Comrade White was the proprietor of this paper."

Mr. Wilberfloss stared. B. Henderson Asher stared. Every one stared, except Mr. Jarvis, who, since the readings from the Kid's reminiscences had ceased, had lost interest in the discussion, and was now entertaining the cats with a ball of paper tied to a string.

"Fancied that Mr. White . . .?" repeated Mr. Wilberfloss. "I don't follow you. Who is, if he isn't?"

Psmith removed his monocle, polished it thoughtfully, and put it back in its place.

"I am," he said.

CHAPTER XXIX 

THE KNOCK-OUT FOR MR. WARING

"You!" cried Mr. Wilberfloss.

"The same," said Psmith.

"You!" exclaimed Messrs. Waterman, Asher, and the Reverend Edwin Philpotts. 

"On the spot!" said Psmith.

Mr. Wilberfloss groped for a chair and sat down.

"Am I going mad?" he demanded feebly.

"Not so, Comrade Wilberfloss," said Psmith encouragingly. "All is well. The cry goes round New York, 'Comrade Wilberfloss is to the good. He does not gibber.'"

"Do I understand you to say that you own this paper?"

"I do."

"Since when?"

"Roughly speaking, about a month."

Among his audience (still excepting Mr. Jarvis, who was tickling one of the cats and whistling a plaintive melody) there was a tendency toward awkward silence. To start bally-ragging a seeming nonentity and then to discover he is the proprietor of the paper to which you wish to contribute is like kicking an apparently empty hat and finding your rich uncle inside it. Mr. Wilberfloss in particular was disturbed. Editorships of the kind which he aspired to are not easy to get. If he were to be removed from Cosy Moments he would find it hard to place himself anywhere else. Editors, like manuscripts, are rejected from want of space.

"Very early in my connection with this journal," said Psmith, "I saw that I was on to a good thing. I had long been convinced that about the nearest approach to the perfect job in this world, where good jobs are so hard to acquire, was to own a paper. All you had to do, once you had secured your paper, was to sit back and watch the other fellows work, and from time to time forward big cheques to the bank. Nothing could be more nicely attuned to the tastes of a Shropshire Psmith. The glimpses I was enabled to get of the workings of this little journal gave me the impression that Comrade White was not attached with any paternal fervour to Cosy Moments. He regarded it, I deduced, not so much as a life-work as in the light of an investment. I assumed that Comrade White had his price, and wrote to my father, who was visiting Carlsbad at the moment, to ascertain what that price might be. He cabled it to me. It was reasonable. Now it so happens that an uncle of mine some years ago left me a considerable number of simoleons, and though I shall not be legally entitled actually to close in on the opulence for a matter of nine months or so, I anticipated that my father would have no objection to staking me to the necessary amount on the security of my little bit of money. My father has spent some time of late hurling me at various professions, and we had agreed some time ago that the Law was to be my long suit. Paper-owning, however, may be combined with being Lord Chancellor, and I knew he would have no objection to my being a Napoleon of the Press on this side. So we closed with Comrade White, and—"

There was a knock at the door, and Master Maloney entered with a card.

"Guy's waiting outside," he said.

"Mr. Stewart Waring," read Psmith. "Comrade Maloney, do you know what Mahomet did when the mountain would not come to him?"

"Search me," said the office-boy indifferently.

"He went to the mountain. It was a wise thing to do. As a general rule in life you can't beat it. Remember that, Comrade Maloney."

"Sure," said Pugsy. "Shall I send the guy in?"

"Surest thing you know, Comrade Maloney."

He turned to the assembled company.

"Gentlemen," he said, "you know how I hate to have to send you away, but would you mind withdrawing in good order? A somewhat delicate and private interview is in the offing. Comrade Jarvis, we will meet anon. Your services to the paper have been greatly appreciated. If I might drop in some afternoon and inspect the remainder of your zoo—?"

"Any time you're down Groome Street way. Glad."

"I will make a point of it. Comrade Wilberfloss, would you mind remaining? As editor of this journal, you should be present. If the rest of you would look in about this time to-morrow—Show Mr. Waring in, Comrade Maloney."

He took a seat.

"We are now, Comrade Wilberfloss," he said, "at a crisis in the affairs of this journal, but I fancy we shall win through."

The door opened, and Pugsy announced Mr. Waring.

The owner of the Pleasant Street Tenements was of what is usually called commanding presence. He was tall and broad, and more than a little stout. His face was clean-shaven and curiously expressionless. Bushy eyebrows topped a pair of cold grey eyes. He walked into the room with the air of one who is not wont to apologise for existing. There are some men who seem to fill any room in which they may be. Mr. Waring was one of these.

He set his hat down on the table without speaking. After which he looked at Mr. Wilberfloss, who shrank a little beneath his gaze.

Psmith had risen to greet him.

"Won't you sit down?" he said.

"I prefer to stand."

"Just as you wish. This is Liberty Hall."

Mr. Waring again glanced at Mr. Wilberfloss.

"What I have to say is private," he said.

"All is well," said Psmith reassuringly. "It is no stranger that you see before you, no mere irresponsible lounger who has butted in by chance. That is Comrade J. Fillken Wilberfloss, the editor of this journal."

"The editor? I understood—"

"I know what you would say. You have Comrade Windsor in your mind. He was merely acting as editor while the chief was away hunting sand-eels in the jungles of Texas. In his absence Comrade Windsor and I did our best to keep the old journal booming along, but it lacked the master-hand. But now all is welclass="underline" Comrade Wilberfloss is once more doing stunts at the old stand. You may speak as freely before him as you would before well, let us say Comrade Parker."

"Who are you, then, if this gentleman is the editor?"

"I am the proprietor."

"I understood that a Mr. White was the proprietor."

"Not so," said Psmith. "There was a time when that was the case, but not now. Things move so swiftly in New York journalistic matters that a man may well be excused for not keeping abreast of the times, especially one who, like yourself, is interested in politics and house-ownership rather than in literature. Are you sure you won't sit down?"

Mr. Waring brought his hand down with a bang on the table, causing Mr. Wilberfloss to leap a clear two inches from his chair. 

"What are you doing it for?" he demanded explosively. "I tell you, you had better quit it. It isn't healthy."