matters he called my attention to the fact that my N.O. & G. railway stock has dropped three points during the week. I seldom indulge in stock speculation, but was induced to buy two thousand shares of this security on what I believed to be inside information. The stock is now selling at five points below my purchase price, a paper loss of $10,000. "Your brokers inform me that unless you desire to take your losses it will be necessary to put up a ten-point margin," said my secretary. "That means a cheque for $20,000, I presume," I observed, making a hurried calculation. He said it did, and I gave it to him. As soon as he had gone I went out with Kirkaldy, our club professional, and played a few holes before luncheon, hoping to get that confounded N.O. & G. stock affair out of my mind so that I could play a good game in the afternoon. I made the fifth hole in five, which reminded me that the cursed stock had dropped five points. As a consequence I drove wide on the next hole, and Kirkaldy won half a dozen balls from me. In order to play a perfect game of golf one's mind must reflect no outside matter, and I shall sell that miserable stock the moment I can get out without serious loss. This should be a lesson to me. I saw Carter a few minutes ago and he tells me he understands that the famous Grace Harding does play golf. My worst fears are confirmed. I shall now clean my clubs and go to bed. ENTRY NO. II MAINLY ABOUT SMITH It has rained all day and nothing of interest has happened. The ladies are clustered on the sheltered side of the veranda. Some are reading, others are engaged in fancy work. The leading topic of discussion is the coming of the Hardings--or rather a fruitless inquiry as to what gowns and how many Miss Grace Harding will wear. They are due to-morrow. I wonder if old Harding knows anything about N.O. & G. stock? He probably does--and will keep it to himself. There being nothing else to write about I shall write of myself. As Chilvers said yesterday, I was born on the farm which now constitutes the Woodvale golf links. When my father died he willed this land and other property to me. I take it that a man has a right to do as he pleases with his own.