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Meantime, as the hour for closing the exhibition at the neighboring hippodrome had arrived, visitors came pouring into Madame de Nailles's reception tall, graceful women, dressed with taste and elegance, as befitted ladies who were interested in horsemanship. The tone of the conversation changed. Nothing was talked about but superb horses, leaps over ribbons and other obstacles.

M. de Cymier listened attentively to such talk, looking and saying the right things, and as he heard more and more about the deplorable condition of M. de Nailles's affairs, he congratulated himself that a prudent presentiment had kept him from asking the hand of Jacqueline.

No doubt M. de Cymier was most assiduous in his attendance on the receptions and dances at Madame de Nailles's, but he was there always at the same time as Madame de Villegry herself. They would hold whispered conferences in corners, which might possibly have been about Jacqueline, but there was no proof that they were so, except what Madame de Villegry herself said.

M. de Cymier listened attentively to such talk, looking and saying the right things, and as he heard more and more about the deplorable condition of M. de Nailles's affairs, he congratulated himself that a prudent presentiment had kept him from asking the hand of Jacqueline.

Everybody forgot that had M. de Nailles's speculations been successful they would have been called matters of business, conducted with great ability on a large scale. When a performer falls from the tightrope, who remembers all the times he has not failed? It is simply said that he fell from his own carelessness.

Had Jacqueline, through any means, discovered a secret, which, in her hands, might be turned into a most dangerous weapon? She had a way of saying before the guilty pair: "Poor papa!" with an air of pity, as she kissed him, which made Madame de Nailles's flesh creep, and sometimes she would amuse herself by making ambiguous remarks which shot arrows of suspicion into a heart already afraid.

It was therefore not surprising that M. de Nailles's face showed traces of the habitual fatigue that was fast aging him; his tall, thin form had acquired a slight stoop; though only fifty he was evidently in his declining years. He had once been a man of pleasure, it was said, before he entered politics. He had married his first wife late in life.

He had come to Madame de Nailles's reception with a brand-new concoction of falsehood and truth, a story likely to be hawked round Paris with great success for several weeks to come, though ladies on first hearing it would think proper to cry out that they would not even listen to it, and would pretend to look round them for their fans to hide their confusion.

M. de Cymier listened attentively to such talk, looking and saying the right things, and as he heard more and more about the deplorable condition of M. de Nailles's affairs, he congratulated himself that a prudent presentiment had kept him from asking the hand of Jacqueline.

The two rooms formed practically but one, being separated only by a large recess without folding-doors, or 'portires'. Hubert Marien, from his place behind Madame de Nailles's chair, had often before watched Jacqueline as he was watching her at this moment. She had grown up, as it were, under his own eye.