a statement as attorney for the
Desbrosses Trust & Guaranty Company, trustee for the Sycamore
bondholders.

The stories set afloat at Indianapolis were gross exaggerations, he
declared, and there was no occasion for alarm in any quarter. It was
true that the company had suffered serious losses owing to unfortunate
accidents, but these were not of a character to jeopardize the interests
of bondholders. A thorough investigation was in progress, and judgment
should be reserved until the exact truth should be known. The trustee
meant to safeguard every interest of the investors.

Kirkwood was lost in thought for several minutes, and then took a sheet
of paper and experimented with a number of sentences until these
survived his careful editing:--

"I personally believe that the affairs of the Sycamore Traction
Company will be speedily adjusted in a way that will satisfy
those concerned, and meanwhile all efforts to shake public
confidence in any of the interests or institutions of
Montgomery can only react disastrously upon those guilty of
such attempts."

He read this over frowningly.

"I think that will be all, Phil," he said, handing her a clean copy.

While she was numbering the pages, Barker came in and Kirkwood drew him
into a corner, where they conversed earnestly. The editor had met that
morning many citizens who spoke bitterly of the Sycamore Traction
Company. The Indianapolis "Advertiser's" circulation in Montgomery was
almost equal to that of the "Evening Star"; and on the wintry corners of
Main Street, in the lobby of the Morton House, and in the court-house,
men were speculating as to the effect of the reports from Indianapolis
upon the Holton bank. The Holtons were Democrats and the "Evening Star"
was the Republican county organ. Barker disliked William Holton on
personal grounds and here was his chance for reprisal.

"They're all crooks," said the editor hotly; and cut Kirkwood short with
"No one knows that better than you."

Kirkwood ignored this thrust.

"It isn't your feeling or mine, Barker, about these people. It's the
town and its best interests we've got to consider. I give you my word
that I believe these kinks in Sycamore will be straightened out. Nobody
knows more about the situation than I do. If you repeat this
'Advertiser' article, you'll start a run on the First National Bank, and
if it should go down, it wouldn't do any of us any good, would it? It
wouldn't he