William explained what had happened over the past few days and read out the relevant section of Charles Lester's Will.

Thomas Cohen spent some time taking down each word and then going over his notes carefully.

'Do you think his wishes would stand up in court?' asked William.

'Who knows? I can't think of a precedent for such a situa - tion. A nineteenth - century Member of Parliament once bequeathed his constituency in a will, and no one objected, and the beneficiary went on to become Prime Minister. But that was over a hundred years ago - and in England. Now in this case, if the board decided to contest Mr. Lester's will, and you took their decision to court, I wouldn't care to predict which way the judge might jump. Lord Melbourne didn't have to contend with a surrogate of New York County. Nevertheless, a nice legal conundrum, Mr.

Kane: 'What do you advise?'said William.

'I am a Jew, Mr. Kane. I came to this country on a ship from Germany at the turn of the century, and I have always had to fight hard for anything I've wanted. Do you want to be chairman of Lester's that badly?'

'Yes, Mr. Cohen, I do.'

'Then you must listen to an old man who has, over the years, come to view you with great respect, and if I may say so, with some affection, and I'll tell you exactly what I'd do if I were faced with your predicament!

An hour later William put the phone down, and having some time to kill, he strolled up Park Avenue. Along the way, he passed a site on which a huge building was well into construction. A large, neat billboard announced 'The next Baron Hotel will be in New York. When the Baron has been your host, you'll never want to stay anywhere else.' William smiled for the first dine that morning and walked with a lighter step towards the Metropolitan Club.

Ted Leach, a short dapper man with dark brown hair and a lighter moustache, was standing in the foyer of the club, waiting for him. He ushered William into the bar. William admired the Renaissance style of the club, built by Otto Kuhn and Standford White in 1894. J. P. Morgan had founded the club when one of his closest friends was blackballed at the Union League.

'A fairly extravagant gesture even for a very close friend,' Ted Leach suggested, trying to make conversation. 'What will you have to drink, Mr.Kane?'

'A dry sherry, please,' said William.

A boy in a smart blue uniform returned a few moments later with a dry sherry and a scotch and water; he hadn't needed to ask Mr. Leach for his order.

To the next chairman of Lester's,' said Ted Leach, raising his glass.

William hesitated.

Ton't drink~ Mr. Kane. As you know, you should never drink to yourself!

William laughed, unsure how to reply.

A few minutes later two older men were walking towards them, both tall and confident in the bankers' uniform of grey three - piece suits, stiff collars and dark unpatterned ties. Had they been strolling down Wall Street, William would not have given them a second glance. In the Metropolitan Club he studied them carefully.

'Mf. Alfred Rodgers and Mr. Winthrop Davies,' said Ted Leach as he introduced then - L William smiled reservedly, still unsure whose side anyone was on. Ile two newcomers were studying him equally carefully. No one spoke for a moment.

'Where do we start?' said the one called Rodgers, a monocle falling from his eye as he spok& 9By going on up to lunch,'said Ted Leach.

'Me three of them turned arourid, obviously knowing exactly where they were going. William followed. The dining room on the second floor was vast, with another magnificent high ceiling. The maittre d' placed them in the window seat, overlooking Central Park, were no one could overhear their conversation.

'Lees order and then talk,' said Ted Leach.

Through the window William could see the Plaza Hotel. Memories of his graduation celebration with the grandmothers and Matthew came flooding back to him - and there was something else he was trying to recall about that tea at the Plaza...

'Mr. Kane, lees put our cards on the table,' said Ted Leach. 'Charles Lester's decision to appoint you as chairman of the bank came as a surprise, not to put too fine a point on it. But if the board ignores his wishes, the bank could be plunged into chaos and that is an outcome none of us needs. He was a shrewd old man, and he will have had his remons for wanting you as the bank's next chairman, and thaes good enough for me.'

William had heard those words before - from Peter Parfitt.

'AN three of us,' said Winthrop Davies, taking over, 'owe everything we have to Charles Lester' and we will carTy out his wishes if it's the last thing we do as members of the board.'