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"How Larry got in on the act, anybody's bloody guess. Pringle Brothers doesn't have his connections, pleased to say." Yet another huge swallow of port. "Wouldn't want 'em. Wouldn't touch 'em with a barge pole, thank you. No way, Jose."

"But, Jamie—" I dared not sound as if I cared, though my time was running out. "But, Jimminy"—his Oxford nickname—"sport, what was he asking you to do? Buy the Kremlin? I'm fascinated."

Jamie's reddened gaze fixed itself once more on his company's Roll of Honour. "You still working for whoever you used to be working for?"

I hesitated. Jamie had once applied to join us, but without success. Since then he had tossed me the odd snippet from time to time, usually after we had had the same information better and earlier from other sources. Did he relish our mystique or resent it? Would he tell me more if I answered yes? I chose the middle path.

"Just the odd bit of this and that, Jamie. Nothing onerous. Listen, you're killing me with curiosity. What on earth was Larry up to?"

A delay for more port and grimacing.

"I'm sorry?"

"Two cracks of the whip. Phoned me a couple of years ago, talked a lot of crap about wanting to put a nice piece of business in my way, was I game, matter of several millions, old-pals act, come and see me next time he was in town, bugger all happened. Went off the air."

"And the second bout? When was that?"

I scarcely knew which to press harder: the what or the when. But Jamie took the decision for me.

"Larry Pettifer was up to the following," he announced in an alarming boom. "Larry Pettifer claimed that he had been authorised, by a certain ex-Soviet state agency, name not supplied—correction, by persons in that agency, their names also not supplied—to conduct a dialogue with this house, concerning the possibility of opening an account with this house—series of accounts: offshore, naturally—whereby this house would receive substantial sums of hard currency from sources not accurately defined—would in effect hold said monies on a no-name basis—and make certain disbursements in accordance with such instructions as would from time to time be received by this house from persons entrusted with a certain code word or letter reference, which would be matched by a similar code word or letter reference held by this house. The disbursements would be substantial, but they would never exceed assets, and we would never be asked for credit."

Jamie's monologue had slowed to fifteen revolutions per minute, and there were only nine minutes left to go by the ship's clock.

"Were they big sums? I mean, banking big? How much money was Larry talking about?"

Jamie again consulted the board behind my head. "If you were to think of a figure in the order of the figure that certain trustees and their advisors were deliberating this morning—I would not think you far wrong."

"Thirty million sterling? What on earth would they be buying? Where did they get it from? I mean that's money, isn't it? Even for you? It certainly is for me! Whatever was he up to? I'm absolutely entranced."

"Laundering, what it came down to. Acting under instructions, my feeling, and hadn't got the hang of 'ern. Had some associate or partner we'd be dealing with up north. He'd be some sort of co-signatory up to certain sums. Stank."

My time was running out. So was Jamie.

"Did he say where

up north?"

"What's that?"

"You said he had some pal up north."

"Macclesfield. An associate in Macclesfield. Could have been Manchester. No, it wasn't. It was Macclesfield. Used to screw a girl there. Cindy. Worked in the silk trade. Silky Cindy."

"But where in God's name does Larry Pettifer get thirty million pounds from? All right, they're not his—but they must be somebody's!"

Wait. Count. Pray. Smile.

"Mafias

," Jamie growled. "Isn't that what they call 'em over there? Competing mafias? Papers are full of 'em." He shook his head and muttered something like His business.

"So what did you do?" I asked, trying desperately to preserve a tone of amused mystification. "Call in your partners? Send him packing?"

The ship's clock was ticking like a bomb, but to my despair Jamie still said nothing. Until suddenly he gave a violent start of impatience, as if it were I who had kept him waiting.

"One doesn't send people packing in these situations, thank you. One gives 'em lunch. One talks old times. Says one will think about it, discuss it with the board. I did tell 'em there were a couple of problems, some practical, some ethical. I suggested it would be nice if they told me who their client actually was, what he was proposing to trade in, and what the tax status would be. A little authentication would help. I suggested they organise an approach through the Foreign Office—at a high level, of course. They did have some letter with them from the embassy in London. Signed by some official. Not the ambassador. Could have been forged. Could have been kosher. One simply doesn't know."

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