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r up…town or down…town； to make money was always and in all circumstances the highest morality； to lose money the profoundest immorality。
At twenty minutes past eleven Melville and the president of the other banks of his chain called loans to Dumont and the Dumont supporting group to the amount of three millions and a quarter。 Ten minutes later other banks and trust companies whose loans to Dumont and his allies either were on call or contained provisions permitting a demand for increased collateral； followed Melville's example and aimed and sped their knives for Dumont's vitals。
Giddings found himself face to face with unexpected and peremptory demands for eleven millions in cash and thirteen millions in additional collateral securities。 If he did not meet these demands forthwith the banks and trust companies； to protect themselves； would throw upon the market at whatever price they could get the thirty…odd millions of Woolens stocks which they held as collateral for the loans。
〃What does this mean； Eaversole？〃 he exclaimed； with white； wrinkled lips； heavy circles suddenly appearing under his eyes。 〃Is Melville trying to ruin everything？〃
〃No；〃 answered Eaversole； third vice…president of the company。 〃He's supporting the market； all except us。 He says Dumont must be driven out of the Street。 He says his presence here is a pollution and a source of constant danger。〃
The National Woolens supporting group was alone； it could get no help from any quarter； as every possible ally was frightened into his own breastworks for the defense of his own interests。 Dumont； the brain and the will of the group； had made no false moves in business； had been bold only where his matchless judgment showed him a clear way； but he had not foreseen the instantaneous annihilation of his chief assethis reputation。
Giddings sustained the unequal battle superbly。 He was cool； and watchful； and effective。 It is doubtful if Dumont himself could have done so well； handicapped as he would have been on that day by the Fanshaw scandal。 Giddings cajoled and threatened； retreated slowly here； advanced intrepidly there。 On the one side； he held back wavering banks and trust companies； persuading some that all was well； warning others that if they pressed him they would lose all。 On the other side； he faced his powerful foes and made them quake as they saw their battalions of millions roll upon his unbroken line of battle only to break and disappear。 At noon National Woolens preferred was at fifty…eight； the common at twenty…nine。 Giddings was beginning to hope。
At three minutes past noon the tickers clicked out： 〃It is reported that John Dumont is dying。〃
As that last word jerked letter by letter from under the printing wheel the floor of the Stock Exchange became the rapids of a human Niagara。 By messenger； by telegraph； by telephone； holders of National Woolens and other industrials； in the financial district； in all parts of the country； across the sea； poured in their selling orders upon the frenzied brokers。 And all these forces of hysteria and panic； projected into that narrow； roofed…in space； made of it a chaos of contending demons。 All stocks were caught in the upheaval； Melville's plans to limit the explosion were blown skyward； feeble as straws in a cyclone。 Amid shrieks and howls and frantic tossings of arms and mad rushes and maniac contortions of faces； National Woolens and all the Dumont stocks bent； broke； went smashing down； down； down； every one struggling to unload。
Dumont's fortune was the stateliest of the many galleons that day driven on the rocks and wrecked。 Dumont's crew was for the most part engulfed。 Giddings and a few selected friends reached the shore half…drowned and humbly applied at the wreckers' camp； they were hospitably received and were made as comfortable as their exhausted condition permitted。
John Dumont was at the mercy of Hubert Herron in his own company。 If he lived he would be president only until the next annual meetingless than two months away； and the Herron crowd had won over enough of his board of directors to make him meanwhile powerless where he had been autocrat。
XXV。
THE FALLEN KING。
Toward noon the next day Dumont emerged from the stupor into which Doctor Sackett's opiate had plunged him。 At once his mind began to grope about for the broken clues of his business。 His valet appeared。
〃The morning papers；〃 said Dumont。
〃Yes； sir；〃 replied the valet； and disappeared。
After a few seconds Culver came and halted just within the doorway。 〃I'm sorry； sir； but Doctor Sackett left strict orders that you were to be quiet。 Your life depends on it。〃
Dumont scowled and his lower lip projectedthe crowning touch in his most imperious expression。 〃The papers； all of 'em；quick！〃 he commanded。
Culver took a last look at the blue…white face and bloodshot eyes to give him courage to stand firm。 〃The doctor'll be here in a few minutes；〃 he said； bowed and went out。
Choking with impotent rage； Dumont rang for his valet and forced him to help him dress。 He was so weak when he finished that only his will kept him from fainting。 He took a stiff drink of the brandythe odor was sickening to him and he could hardly force it down。 But once down； it strengthened him。
〃No； nothing to eat；〃 he said thickly； and with slow but fairly steady step left his room and descended to the library。 Culver was theresat agape at sight of his master。 〃But youyou must not〃 he began。
Dumont gave him an ugly grin。 〃But I will！〃 he said； and again drank brandy。 He turned and went out and toward the front door； Culver following with stammering protests which he heeded not at all。 On the sidewalk he hailed a passing hansom。 〃To the Edison Building；〃 he said and drove off； Culver； bareheaded at the curb； looking dazedly after him。 Before he reached Fifty…ninth Street he was half…sitting； half…reclining in the corner of the seat； his eyes closed and his senses sinking into a stupor from the fumes of the powerful doses of brandy。 As the hansom drove down the avenue many recognized him； wondered and pitied as they noted his color； his collapsed body； head fallen on one side； mouth open and lips greenish gray：。 As the hansom slowly crossed the tracks at Twenty…third Street the heavy jolt roused him。
〃The newspapers；〃 he muttered； and hurled up through the trap in the roof an order to the driver to stop。 He leaned over the doors and bought half a dozen newspapers of the woman at the Flat…iron stand。 As the hansom moved on he glanced at the head…linesthey were big and staring； but his blurred eyes could not read them。 He fell asleep again； his hands clasped loosely about the huge proclamations of yesterday's battle and his rout。
The hansom was caught in a jam at Chambers Street。 The clamor of shouting； swearing drivers roused him。 The breeze from the open sea； blowing straight up Broadway into his face； braced him like the tonic that it is。 He straightened himself； recovered his train of thought； stared at one of the newspapers and tried to grasp the meaning of its head…lines。 But they made only a vague impression on him。
〃It's all lies；〃 he muttered。 〃Lies！ How could those fellows smash ME！〃 And he flung the newspapers out of the hansom into the faces of two boys seated upon the tail of a truck。
〃You're drunk early；〃 yelled one of the boys。
〃That's no one…day jag；〃 shouted the other。 〃It's a hang…over。〃
He made a wild； threatening gesture and； as his hansom drove on； muttered and mumbled to himself； vague profanity aimed at nothing and at everything。 At the Edison Building he got out。
〃Wait！〃 he said to the driver。 He did not see the impudent smirk on the face of the elevator boy nor the hesitating； sheepish salutation of the door…man； uncertain how to greet the fallen king。 He went straight to his office； unlocked his desk and； just in time to save himself from fainting； seized and half…emptied a flask of brandy he kept in a drawer。 It had been therebut untouched ever since he came to New York and took those offices； he never drank in business hours。
His head was aching horribly and at every throb of his pulse a pain tore through him。 He rang for his messenger。
〃Tell Mr。 Giddings I want to see himyou！〃 he said； his teeth clenched and his eyes blazinghe looked insane。
Giddings came。 His conscience was clearhe had never liked Dumont； owed him nothing； yet had stood by him until further fidelity would have ruined himself； would not have saved Dumont； or prevented the Herron…Cassell raiders from getting control。 Now that he could afford to look at his revenge…books he was deeply resenting the insults and indignities heaped upon him in the past five years。 But he was unable to gloat； was moved to pity； at sight of the physical and mental wreck in that chair which he had always seen occupied by the most robust of despots。
〃Well；〃 said Dumont in a dull； far…away voice； without looking at him。 〃What's happened？〃
Giddings cast about for a smooth beginning but could find none。 〃They did us upthat's all；〃 he said funereally。
Dumont lifted himself into a momentary semblance of his old look and manner。 〃You lie； damn you！〃 h