'I can assure you, sir, he's blown nearly every penny of my mothier's money. To be exact, he has thirty - three thousand, four hundred and twelve dollars of the original sum left. I suggest you take very little notice of Osborne's books and check more thoroughly into his background, past business record and associates. Not to mention the fact that he gambles - heavily.'

From the eighth tee Alan hit his ball into a lake directly in front of them, a lake even novice players managed to clear. He conceded the hole.

'How did you come by your information on Henry?' asked Alan, fairly certain it had been through Thomas Cohen's office.

'I prefer not to say, sir.'

Alan kept his own counsel;,he thought he might need that particular ace up his sleeve to play a little later in William's life.

'If all you claim turned out to be accurate, William, naturally I would have'to advise your mother against any investment in Henry's firm, and it would be my duty to have the whole thing out in the open with Henry as weIL'

'So be it, sir.'

Alan hit a better shot, but felt he wasn't winning.

William continued. 'It may also interest you to know that Osborne needs the five hundred thousand from my trust not for the hospital contract but to clear a long - standing debt in Chicago. I take it that you were not aware of that, sir?'

Alan said nothing; he certainly had not been aware. William won the hole.

When they reached the eighteenth, Alan was eight holes down and was about to complete the worst round he cared to remember. He had a five - foot putt that would at least enable him to halve the final hole with William.

'Do you have any more bombshells for me?' asked Alan.

'Before or after your putt, sir?'

Alan laughed and decided to call his bluff. 'Before the putt, William,'he said, leaning on his club.

'Osborne will not be awarded the hospital contract. It is thought by those who matter that~ he's been bribing junior officials in the city government.

Nothing will be brought out into the open, but to be sure of no repercussions later his company has been removed from thefinal list. The contract will actually be awarded to Kirkbride and Carter. The last piece of information, sir, is confidential. Even Kirkbride and Carter will not be informed until a week from thursday, so I'd be obliged if you would keep it to yourself.' Alan missed his putt. William holed his, walked over to the chairman and shook him warmly by the hand.

'nank you for the game, sir. I think you'll find you owe me ninety dollars.'

Alan took out his wallet and handed over a hundred - dollar note. 'William, I think the time has come for you to stop calling Te "sir". My name, as you well know, is Alan!

.rhank you, Alan! William handed him ten dollars.

Alan Lloyd arrived at t ' he bank on Monday morning with a little more to do than he bad originally anticipated before the weekend. He put five departmental managers to work im mediately on checking out the accuracy of William's allega tions. He feared that he already knew what their enquiries would reveal and, because of Arme's position at the bank, he made certain that no one department was aware of what the others were up to. His instructions to each manager were clear: all reports were to be strictly confidential and for the chairman's eyes only. By Wednesday of the same week he had five preliminary reports on his desk. lley all seemed to be in agreement with Williarns judgment although each man ager had asked for more time to verify some of the details.

Alan decided against worrying Anne until he had some more concrete evidence to go on. The best he felt he could do for the time being was to take advantage of a buffet supper the Osbornes were giving that evening to advise Anne against any immediate decision on the loan.

When Alan arrived at the party, be was shocked to see how tired and drawn Anne looked, which predisposed him to soften his approach even more. When he managed to catch her alone, they only bad a few moments together. If only she were not having a baby just at the time all this was happening, he thought.

Anne turned and smiled at him. 'How kind of you to come Alan, when you must be so busy at the bank.'

'I couldn't afford to miss out on one of your parties, my dear, they're still the toast of Boston.'

She smiled. 'I wonder if you ever say the wrong thing!

'All too frequently. Anne, have you had time to give any more thought to the loan?' He tried to sound casual.

'No, I am afraid I haven't. I've been up to my eyes with other things, Alan. How did Henry's accounts look?'

'Fine, but we only have one year's figures to go on, I think we ought to bring in our own accountants to check them over. It's normal banking policy to do that with anyone who has been operating for less than three years. I am sure Henry would understand our position and agree.'