Melt butter or margarine in chafing dish or skillet. Tear beef in pieces, add to butter or margarine and saute over direct heat until lightly browned and frizzled. Sprinkle with the flour and pepper, and stir until the fat is absorbed. Add milk gradually while stirring constantly. Cook until sauce thickens and boils. Serve on toast, waffles or split hot biscuits. Yield: 6 servings.