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However, at Galinda Raventree's balls, such grim topics seemed utterly foreign. There was still no talk of Oth Eltorchul's death. The only explanation for this that Arilyn could fashion was that Errya Eltorchul had elected to keep this news quiet as long as possible, hoping to peddle spells and potions created by the family's students and pass them off as her brother's work. One thing seemed certain: the Eltorchul fortunes would plunge when the news became common knowledge. Arilyn had liked the Eltorchul patriarch, and she doubted that he would resort to subterfuge, but it was possible that he, in his grief, gave too free a hand to his venal daughter.

On the other hand, the story of the ambushed caravan was the second-most popular theme of the evening—outshining even the tawdry, overfed imitation elves that strutted about in much green and brown paint and little else.

Arilyn listened closely to what was told to her and what was spoken nearby. She constructed two main stories from the disparate and often conflicting parts. One school of thought held that the theft was orchestrated by the elf lord. The other rumor, spoken in softer tones but having the extra appeal of conspiracy and betrayal, suggested that the traitor was one of the families in the consortium that sponsored the caravan.

Lord Gundwynd was the lowest on the list of likely villains—at least, on such lists as the merchant nobility might fashion. He had supplied the flying mounts and the elven guards, and his losses were enormous. On the other hand, the elven minstrels noted with considerable bitterness that Gundwynd had used his elven hirelings in much the same fashion that orcs deployed goblin troops in battle: to draw enemy fire and reveal position, buying time for the "more valuable" fighters to assess the situation. The elves were not claiming that Gundwynd had orchestrated the ambush—not quite—but their opinion of the man and his methods was not far above that mark.

The Amcathra clan, dealers in fine weapons, lost some of the valuable swords and daggers fashioned by their craftsmen in Silverymoon, but the fine, upstanding reputation enjoyed by the Amcathra clan held too high a gloss to hold much tarnish.

Ilzimmer, on the other hand, suffered from a reputation that had been quilted together from scores of small scandals. Boraldan Ilzimmer, the clan's patriarch and not a well-liked man, had expected to receive a small fortune in crystal and gems on the westbound caravan. Of course, after Myrna's rumors made the rounds, no one was certain how much of his stated loss was truly gemstone and how much of it was worthless bits of colored rock.

And then there was the Tha

These speculations troubled Arilyn deeply. If she remembered her history, war among the families of Waterdeep was nothing new, and she did not relish the possibility of seeing old times return.

Arilyn sought Lady Cassandra in the crowd. The noblewoman was dressed in a shimmering silver-blue gown that suggested, but did not precisely imitate, a mermaid's scales. She looked as serene and collected as ever, and her demeanor gave no sign that she had heard the rumors at all, much less that they gave her any cause for concern.

On the other hand, Arilyn noted that the noblewoman gave her respects to Galinda Raventree at an unusually early hour. Arilyn followed the older woman to her carriage and slipped inside before the startled groom could bar the door.

"It's all right, Nelson," Lady Cassandra said in a resigned voice. She moved over to make room, pointedly eyeing the wings on Arilyn's costume. "Tell the driver to circle the block."

She did not speak to Arilyn until the creak and rumble of the carriage gave cover to their words. She batted aside a lazily drifting feather. "There is trouble in the Land of Faerie? Molting is often a sign of distress."

"Oh. Sorry." Almost glad for the excuse, Arilyn tore the a

"I trust this is important?"

"You tell me." She quickly apprised the noblewoman of the situation. Not once did Cassandra's expression give a hint of worry or dismay.

"The rumors are not entirely off target," she said cautiously. "Tha

"Oh? Why is that?"

"The answer should be obvious," the noblewoman said. "Consider our past—the devastation of the Guild Wars when the families battled in the streets. There is no clan so foolish as to believe they could succeed in such an endeavor, and so none would engage in so blatant a challenge. Only outsiders, those who attempt to wedge their foot inside the door, would attempt such a ridiculous thing."





"Not so ridiculous," the half-elf pointed out. "By all reports, at least two-score men and elves died in that ambush. The cargo is gone. Some might call that success."

The noblewoman gave Arilyn a supercilious smile. "Rumors are like drunken men," she observed. "Most of the time they babble nonsense, but sometimes a truth slips out that would otherwise be unspoken."

"Such as?"

"Let us consider Elaith Craulnober. Few have dared accuse the elf lord before, or if they did, they often dropped their accusation before the Lords Council met for judgment. Those few who persisted in their suit were never able to trail the elf's misdeeds to the source. This time, however, Craulnober has overstepped, and the truth about him is being spoken aloud."

"That, I doubt," Arilyn said without hesitation. "I have known Elaith for several years. I certainly won't argue that he is without stain, but never have I known him to act so openly or foolishly. There is a reason why his misdeeds are so hard to trace. He is clever."

"So was the theft of the air caravan."

"I've seen better," the half-elf said bluntly. "The ambush required information and pla

Cassandra affixed her with a look of cold incredulity. "You defend him?"

"I'm just trying to see all the runes on the page. There is something more going on than a single bandit attack. Danilo said that he told you Oth Eltorchul was killed by tren assassins. Elaith was recently attacked by similar assassins—in your villa."

The noblewoman's steady gaze did not falter at any part of this litany. "You hold Tha

"Not yet," Arilyn returned, "but it is possible that Elaith might."

"I see your point," the woman allowed, "but that is all the more reason for him to take vengeance on one of our business interests."

The reasoning was logical enough, but Arilyn shook her head. "Do you know who died in that ambush? Elves, mostly. Among them were four young warriors not long from Evermeet. They were Eagle Riders and among the most respected elven warriors. Whatever else Elaith might do, whatever he might be, I ca

"Why not? If there is any truth at all to the legends and tavern tales, Elaith Craulnober has slain hundreds in his misspent life and barely stopped to clean his blade."

"Never an elf," Arilyn persisted. "As far as I know, never that. I admit that might be scant virtue in this claim, but there is a pattern. Everything I know about Elaith Craulnober leads me to believe him guiltless in this matter."

Cassandra sat back and regarded the younger woman with an icy gaze. "You know what you are saying, of course. You are accusing at least one of the noble families of betrayal, theft, and murder. That is a very serious accusation."