in a state of deferred bankruptcy, when
the first rumor reached him that Smith had _bolted_, after a heavy
transaction in "woolens"--Jenks his principal endorser--Smith not
leaving assets or assigns to the amount of one red farthing.

"By Jove!" poor Jenks muttered, as he tremulously seated himself in his
back counting room--"that's shabby in Smith--very shabby."

The next morning's Gazette informed the community that Bingle had
failed--liabilities over $200,000--prospects barely giving hopes of ten
per cent, all around; and even this hope, upon Jenks' investigation,
proved a forlorn one; by a _modus operandi_ peculiar to the heartless,
self-devoted, _they_ got all, Jenks and the _few_ of his ilk, got
nothing!

For the first time in his life, Jenks became pecuniarily moody. For the
first time, in the course of his mercantile career, of some six years,
the force of reflection convinced him, that he had not acted his part
judiciously, however "well done" it might be, in point of honor and
manliness.

The next day Jenks devoted to a scrutiny of his accounts in general with
the business world. He found things a great deal "mixed up;" his
balance-sheet exhibited large surplusages accumulated on the score of
his leniency and good nature; by the credit of those with whom he held
business relations. A council of war, or expediency, rather,--_solus_,
convinced Jenks, he had either mistaken his business qualifications, or
formed a very vague idea of the soul--manners and customs of the
business world; and he broke up his council, a sadder if not a wiser
man.

"By Jove, this is discouraging; I'll have to do a very disagreeable
thing, very disagreeable thing: _make an assignment!_"

"Who'd thought John Jenks would ever come to that?" that individual
muttered to himself, as he proceeded to his hotel. And ere he reached
his plate, at the tea-table, a servant whispered that a gentleman with a
message was out in the "office" of the hotel, anxious to see Mr. Jenks.

"Mr. Jenks--John Jenks, I believe, sir?" began the person, as poor
Jenks, now on the _tapis_ for more ill news, approached the person in
waiting.

"Precisely, that's my name, sir," Jenks responded.

"Then," continued the stranger, "I've disagreeable business with you,
Mr. Jenks; _I hold your arrest!_"

"Good God!" exclaimed Jenks; "my arrest? What for?"

"There's the writ, sir; you can read it."

"A _writ_? Why, God bless you, man, I don't _owe_ a dollar in t