THE train of events leading up to the publication of the novel Cocktail Time, a volume which, priced at twelve shillings and sixpence, was destined to create considerably more than twelve and a half bobsworth of alarm and despondency in one quarter and another, was set in motion in the smoking-room of the Drones Club in the early afternoon of a Friday in July. An Egg and a Bean were digesting their lunch there over a pot of coffee, when they were joined by Pongo Twistleton and a tall, slim, Guards-officer-looking man some thirty years his senior, who walked with a jaunty step and bore his cigar as if it had been a banner with the strange device Excelsior.