ps more so still."

This uncertainty kept up the price for about half an hour. But soon
the most disastrous news began to spread, brought, no one knew
whence or by whom; and there was an irresistible panic.

From 425, at which price it had maintained itself for a time, the
Mutual Credit fell suddenly to 300, then 200, and finally to 150
francs.

Some friends of M. de Thaller, M. Costeclar, for instance, had
endeavored to keep up the market; but they had soon recognized the
futility of their efforts, and then they had bravely commenced
doing like the rest.

The next day was Sunday. From the early morning, it was reported,
with the most circumstantial details, that the Baron de Thaller
had been arrested.

But in the evening this had been contradicted by people who had
gone to the races, and who had met there Mme. de Thaller and her
daughter, more brilliant than ever, very lively, and very talkative.
To the persons who went to speak to them,

"My husband was unable to come," said the baroness. "He is busy
with two of his clerks, looking over that poor Favoral's accounts.
It seems that they are in the most inconceivable confusion. Who
would ever have thought such a thing of a man who lived on bread and
nuts? But he operated at the bourse; and he had organized, under a
false name, a sort of bank, in which he has very foolishly sunk
large sums of money."

And with a smile, as if all danger had been luckily averted,

"Fortunately," she added, "the damage is not as great as has been
reported, and this time, again, we shall get off with a good fright."

But the speeches of the baroness were hardly sufficient to quiet
the anxiety of the people who felt in their coat-pockets the
worthless certificates of Mutual Credit stock.

And the next day, Monday, as early as eight o'clock, they began to
arrive in crowds to demand of M. de Thaller some sort of an
explanation.

They were there, at least a hundred, huddled together in the
vestibule, on the stairs, and on the first landing, a prey to the
most painful emotion and the most violent excitement; for they had
been refused admittance.

To all those who insisted upon going in, a tall servant in livery,
standing before the door, replied invariably, "The office is not
open, M. de Thaller has not yet come."

Whereupon they uttered such terrible threats and such loud
imprecations, that the frightened concierge had run, and hid himself
at the very bottom of his lodge.