by turning to his hostess
and saying, "Mrs. Wakeham, you will excuse us. Mr. Wakeham, you can send
us to town at once?"

By this time the whole company were upon their feet gazing with
amazement upon the two excited Germans.

"But what is it?" cried Mrs. Wakeham. "What has happened? Is there
anything wrong? What is it, Professor Schaefer? What is your wire about,
Garrison?"

"Oh, nothing at all, my dear, to get excited about. My financial
agent wires me that the Press will announce to-morrow that Austria has
presented an ultimatum to Servia demanding an answer within forty-eight
hours."

"Oh, is that all," she said in a tone of vast relief. "What a start you
all gave me. An ultimatum to Servia? What is it all about?"

"Why, you remember, my dear, the murder of the Archduke Ferdinand about
three weeks ago?"

"Oh, yes, I remember. I had quite forgotten it. Poor thing, how terrible
it was! Didn't they get the murderer? It seems to me they caught him."

"You will excuse us, Mrs. Wakeham," said Professor Schaefer, approaching
her. "We deeply regret leaving this pleasant party and your hospitable
home, but it is imperative that we go."

"But, my dear Professor Schaefer, to-night?" exclaimed Mrs. Wakeham.

"Why, Schaefer, what's the rush? Are you caught in the market?" said
Wakeham with a little laugh. "You cannot do anything to-night at any
rate, you know. We will have you in early to-morrow morning."

"No, no, to-night, now, immediately!" shouted Meyer in uncontrollable
excitement.

"But why all the excitement, Schaefer?" said Hugo Raeder, smiling at
him. "Austria has presented an ultimatum to Servia--what about it?"

"What about it? Oh, you Americans; you are so provincial. Did you read
the ultimatum? Do you know what it means? It means war!"

"War!" cried Meyer. "War at last! Thank God! Tonight must we in New York
become."

Shaking hands hurriedly with Mrs. Wakeham, and with a curt bow to
the rest of the company, Meyer hurriedly left the room, followed by
Professor Schaefer and Mr. Wakeham.

"Aren't they funny!" said Rowena. "They get so excited about nothing."

"Well, it is hardly nothing," said Hugo Raeder. "Any European war is
full of all sorts of possibilities. You cannot throw matches about in a
powder magazine without some degree of danger."

"May I read the ultimatum?" said Larry to Mrs. Wakeham, who held the
telegram in her hand.

"Pretty stiff ultimatum," said Hugo Raeder. "Read it out, Lar