An opportunity arises to invest in a risky gold-mining venture, highlighting the clash between Jolyon's cautious approach and the board's aggressive stance on profit above all. James and Soames are further convinced he is entirely at odds with the firm's objectives and their attempts to oust him intensify. Irene contends with her new reality of destitution by seeking employment, while Soames tries to alleviate her anguish by taking her on various outings.

Ten years after Jolyon Forsyte's marriage to high-society favourite Frances, he prepares to celebrate his daughter June's 18th birthday and entrance into society. Meanwhile, the question of the succession of family firm Forsyte & Co hangs heavily in the air with brothers - and rivals - Jolyon Sr and James battling for their own sons to take over as chairman.