y are gathered here
at my house this evening. The question of ways and means of preventing
a panic to-morrow is up for discussion. As you probably know, Hull &
Stackpole are in trouble. Unless something is done for them tonight
they will certainly fail to-morrow for twenty million dollars. It
isn't so much their failure that we are considering as it is the effect
on stocks in general, and on the banks. As I understand it, a number
of your loans are involved. The gentlemen here have suggested that I
call you up and ask you to come here, if you will, to help us decide
what ought to be done. Something very drastic will have to be decided
on before morning."

During this speech Cowperwood's brain had been reciprocating like a
well-oiled machine.

"My loans?" he inquired, suavely. "What have they to do with the
situation? I don't owe Hull & Stackpole anything."

"Very true. But a number of the banks are carrying securities for you.
The idea is that a number of these will have to be called--the majority
of them--unless some other way can be devised to-night. We thought you
might possibly wish to come and talk it over, and that you might be
able to suggest some other way out."

"I see," replied Cowperwood, caustically. "The idea is to sacrifice me
in order to save Hull & Stackpole. Is that it?"

His eyes, quite as though Arneel were before him, emitted malicious
sparks.

"Well, not precisely that," replied Arneel, conservatively; "but
something will have to be done. Don't you think you had better come
over?"

"Very good. I'll come," was the cheerful reply. "It isn't anything
that can be discussed over the 'phone, anyhow."

He hung up the receiver and called for his runabout. On the way over
he thanked the prevision which had caused him, in anticipation of some
such attack as this, to set aside in the safety vaults of the Chicago
Trust Company several millions in low-interest-bearing government
bonds. Now, if worst came to worst, these could be drawn on and
hypothecated. These men should see at last how powerful he was and how
secure.

As he entered the home of Arneel he was a picturesque and truly
representative figure of his day. In a light summer suit of cream and
gray twill, with a straw hat ornamented by a blue-and-white band, and
wearing yellow quarter-shoes of the softest leather, he appeared a very
model of trig, well-groomed self-sufficiency. As he was ushered into
the room he gazed about