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When Cambridge House, a disused mansion is converted to a flat and let out, an interesting host of characters take up residence. The young man Frank, narrator of the novel, is one of them and takes great interest in his neighbours, especially the young lady Ursula Broadhem. Her mother Lady Broadhem asks Frank to help her sort out her finances that are on the brink of disaster due to some stock market speculations. Now Frank hopes that the situation can work to his advantage in getting Ursula's hand in marriage?