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Blake Waring, a financier, whose life code is to have the best of everything at any cost, is surrounded with every conceivable luxury, but he wants a wife to complete his happiness. He is desirous of obtaining a beautiful picture, "The Chattel," owned by Roger Carvin, another financier, who cannot be induced to sell it. Later, Carvin, in stringent circumstances, is forced to part with it at an auction where Waring obtains it. Here he sees Leila Bard, and is attracted to her. At the opera he is presented to her by Mrs. Delavan. Determined to have Leila, he lavishes attentions on her until she is deceived into believing he loves her, and finally consents to marry him. On the eve of the wedding, her father confesses his financial ruin in a letter, explaining his present position was held through dishonesty. He then kills himself. Waring, nonplussed at first, decides to possess Leila in spite of all this and conceals Bard's suicide, making restitution under promise of secrecy. As time passes. Waring begins to grow distant and exacting. Waring, on Leila's birthday, presents her with a lovely necklace, but the sentiment is driven away when she finds that it has been selected by a friend of Waring's. When Leila returns to her home late one afternoon after spending the time at a matinee with Mrs. Delavan, she is reproved by her husband for not being home before him. He is overheard by Harding, Waring's closest friend, who is astonished at Blake's manner. A few days later, Waring, trying to engineer a great financial deal to impress his associates, invites them to dine with him at home. Harding, who is also invited, finds he has a previous engagement which cannot be put off, and stops at Waring's house to tell him. Waring is not at home, but his wife receives Harding's message. As Harding is incidentally telling Leila to overlook her husband's brusqueness, Waring appears and accuses his wife of making love to Harding. Harding goes away crestfallen. Leila and Blake have a dramatic and pathetic scene where Waring tells her that she is "his chattel," and that he cleared her father's name. Leila tells him she will be no man's chattel. The guests arrive, and Waring repents his bitterness toward Leila, for fear she will refuse to see his guests. Leila professes interest in business matters and finds out the inside information concerning the business deal. After the departure of the guests, Waring feels pleased with Leila's generosity and admires her, but won't relent. Leila is disappointed and the next day she departs for town with her jewels where she goes to the president of the Consolidated Trust Company and negotiates a loan of $75,000 on them. With the money she buys the stock under an assumed name. The stock rises higher and higher and finally she sells it to Waring. She takes the money to Waring with the jewels and tells him: "The chattel has come to buy back her freedom." Then she leaves. Leila, knowing she is not legally free, goes to Mrs. Delavan's cottage. When Waring, after an illness, is brought home he destroys the picture "The Chattel." After a month he sends for Mrs. Delavan and questions her as to Leila's whereabouts. She is moved by the change in Waring and confides in him. When strength returns, he hires a little cottage near Leila's and there lives alone. Sammy, a small boy, brings provisions to both Leila and Blake, who is living under the name of Hope. She does not know that her neighbor is her husband. After a short lapse of time, he slips up to her cottage in the night and leaves flowers on her steps. Waring keeps Leila's picture on his table. Sammy notices the resemblance to Leila in the picture and tells her of it. Sammy tells Waring what he has said to "the lady next door," and Waring has Sammy write a note to her asking if he may visit her. As she is answering the letter that night, she accidentally knocks over the lamp. The fire spreads rapidly and Waring rushes to her rescue, and the past is forgotten. They begin life anew.