ncere friend? Well, I swear to you that the
situation is terrible, and you must resign your directorship of the
Universal Credit without loss of time. There's not a moment to lose. Sit
down and write your resignation."

"Do you think I am a child to be led by the nose like that?" asked the
Prince, in a passion. "If you are sincere, Cayrol, as I wish to believe,
I also think you are a fool. You don't understand! As to drawing out of
the company, never! I have a lot of money invested in it."

"Well, lose your money, Madame Desvarennes will pay you back. At least
you can save your name."

"Ah, I see you are conniving with her!" exclaimed the Prince, loudly.
"Don't tell me another word, I don't believe you. I shall go straight to
the office, and I will speak to Herzog. We will take measures to
prosecute the papers for libel if they dare to publish these untruths."

Cayrol saw that nothing would convince Panine. He hoped that an interview
with Herzog would enlighten him. He left the matter to chance, as
reasoning was of no avail, and went down to the mistress.

Serge drove to the Universal Credit Company. It was the first day in the
new offices. Herzog had furnished them splendidly, thinking that this
would give the shareholders a high opinion of the undertaking. How could
they have any doubts when they saw such splendid furniture and large
offices? How could they refuse to place their money in the hands of
speculators that could cover their floors with such soft carpets? The
porters, with their dark blue and red cloth liveries, and buttons with
the company's monogram on them, answered inquiries with haughty
condescension. Everything foretold success. It was in the air. You could
hear the cashier shovelling heaps of gold. The people who had placed the
Universal Credit Company on such a footing were either very powerful or
very impudent.

Serge walked in, as he would have done at home, with his hat on, amid a
number of small shareholders, who had come full of anxiety after reading
the accounts in the newspapers, and who felt full of confidence after
seeing the splendor of the place. Panine reached Herzog's office, but
when about to open the door, loud voices struck his ear. The financier
was arguing with a director, and Panine listened.

"The speculation is safe and sure," Herzog was saying. "The shares are
low, I know, because I have ceased to keep them up. I have given orders
in London, Vienna, and Berlin, and we are