o face a serious loss while Lansing had made a profit. It
was a galling situation; and what made it worse was that Lansing's
expression hinted that he found it somewhat humorous.

"The fact that you sold out so soon before the fall will have its
significance," said the first man. "The thing has a suspicious look."

"I must risk a certain amount of misconception," Herbert replied
languidly. "I may as well point out that I still hold the shares
required as a director's qualification, which is all it was necessary
for me to do. Was it your intention to keep the stock you hold
permanently?"

They could not answer him, and he smiled.

"As a matter of fact, we all intended to sell off a good portion as
soon as the premium justified it; the only difference of opinion was
about the point it must reach, and that, of course, was a matter of
temperament. Well, I was lucky enough to get rid of part of my stock
at a profit; and there was nothing to prevent your doing the same.
Instead of that, you held on until the drop came; it was an imprudence
for which you can't blame me."

"Our complaint is that you foresaw the fall and never said a word."

"Granted. Why didn't you foresee it? You had the right of access to
all the information in my hands; you could inspect accounts in the
London office; I suppose you read the financial papers. It would have
been presumptuous if I'd recommended you to sell, and my forecast might
have proved incorrect. In that case you would have blamed me for
losing your money."

This was incontestable. Though they knew he had betrayed them,
Lansing's position was too strong to be assailed.

"You might have mentioned that you contemplated retiring from the
board," one remarked. "Then we would have known what to expect."

"A little reflection will show the futility of your suggestion. How
could I contemplate being run over by a motor-car?"

"Well," said the second man in a grim tone, "you can't deny the
accident was in some respects a fortunate one for you."

"I'm doubtful whether you would have appreciated it, in my place. But
you don't seem to realize that I'm withdrawing from the board because
I'm incapacitated for the duties."

Then the nurse, to whom Herbert had given a hint, came in; and he made
a sign of resignation, quite as though overpowered by regret.

"I'm sorry I'm not allowed to talk very much yet. Will you have a
cigar and some refreshment before you leave?"

His vis