in the distance, far off toward the
thicker residential sections.

"Extra! Extra! All about the big Chicago fire! Chicago burning down!"

"Just that," replied Cowperwood, hearkening to them. "Have you heard the
news?"

"No. What's that they're calling?"

"It's a big fire out in Chicago."

"Oh," replied Butler, still not gathering the significance of it.

"It's burning down the business section there, Mr. Butler," went on
Cowperwood ominously, "and I fancy it's going to disturb financial
conditions here to-morrow. That is what I have come to see you about.
How are your investments? Pretty well drawn in?"

Butler suddenly gathered from Cowperwood's expression that there was
something very wrong. He put up his large hand as he leaned back in his
big leather chair, and covered his mouth and chin with it. Over those
big knuckles, and bigger nose, thick and cartilaginous, his large,
shaggy-eyebrowed eyes gleamed. His gray, bristly hair stood up stiffly
in a short, even growth all over his head.

"So that's it," he said. "You're expectin' trouble to-morrow. How are
your own affairs?"

"I'm in pretty good shape, I think, all told, if the money element of
this town doesn't lose its head and go wild. There has to be a lot of
common sense exercised to-morrow, or to-night, even. You know we are
facing a real panic. Mr. Butler, you may as well know that. It may not
last long, but while it does it will be bad. Stocks are going to drop
to-morrow ten or fifteen points on the opening. The banks are going to
call their loans unless some arrangement can be made to prevent them.
No one man can do that. It will have to be a combination of men. You and
Mr. Simpson and Mr. Mollenhauer might do it--that is, you could if you
could persuade the big banking people to combine to back the market.
There is going to be a raid on local street-railways--all of them.
Unless they are sustained the bottom is going to drop out. I have always
known that you were long on those. I thought you and Mr. Mollenhauer
and some of the others might want to act. If you don't I might as well
confess that it is going to go rather hard with me. I am not strong
enough to face this thing alone."

He was meditating on how he should tell the whole truth in regard to
Stener.

"Well, now, that's pretty bad," said Butler, calmly and meditatively.
He was thinking of his own affairs. A panic was not good for him either,
but he was not in a desperate state. He could