HE would not admit, even to himself, that his material affairs were less satisfactory than they had been the year before, but such he vaguely knew was a fact. Speculation in Western government lands, large investments in transportation systems for the present fallow, had brought about a general condition of commercial unrest. Alexander Hulings felt this, not only by the delayed payment for shipments of metal, but in the allied interests he had accumulated. Merchandise was often preceded by demands for payment; the business of a nail manufactory he owned in Wheeling had been cut in half.

He could detect concern in the shrewd countenance and tones of Samuel Cryble, a hard-headed Yankee from a Scotch Protestant valley in New Hampshire, who had risen to the position of his chief assistant and, in a small way, copartner. They sat together in the dingy office on the public road and silently, grimly, went over invoices and payments, debts and debtors. It was on such an occasion that Alexander had word of the death of Doctor Veneada.

Hulings' involuntary concern, the stirred memories of the dead man's liberal spirit and mind—he had been the only person Alexander Hulings could call friend—speedily gave place to a growing anxiety as to how Veneada might have left his affairs. He had been largely a careless man in practical matters.

Alexander had never satisfied the mortgage he had granted Veneada on the timber properties purchased with the other man's money. He had tried to settle the indebtedness when it had first fallen due, but the doctor had begged him to let the money remain as it was.

“I'll only throw it away on some confounded soft-witted scheme, Alex,” he had insisted. “With you, I know where it is; it's a good investment.”

Now Hulings recalled that the second extension had expired only a few weeks before Veneada's death, incurring an obligation the settlement of which he had been impatiently deferring until he saw the other.

He had had a feeling that Veneada, with no near or highly regarded relatives, would will him the timber about the valleys; yet he was anxious to have the thing settled. The Alexander Hulings Company was short of available funds. He returned to Eastlake for Veneada's funeral; and there, for the first time, he saw the cousins to whom the doctor had occasionally and lightly alluded. They were, he decided, a lean and rapacious crew.

He remained in Eastlake for another twenty-four hours, but was forced to leave with nothing discovered; and it was not until a week later that, again in his office, he learned that Veneada had made no will. This, it seemed, had been shown beyond any doubt. He rose, walked to a dusty window, and gazed out unseeingly at an eddy of dead leaves and dry metallic snow in a bleak November wind.

After a vague, disconcerted moment he shrewdly divined exactly what would occur. He said nothing to Cryble, seated with his back toward him; and even Gisela looked with silent inquiry at his absorption throughout supper. She never questioned him now about any abstraction that might be concerned with affairs outside their pleasant life together.

The inevitable letter at last arrived, announcing the fact that, in a partition settlement of Veneada's estate by his heirs, it was necessary to settle the expired mortgage. It could not have come, he realized, at a more inconvenient time.

He was forced to discuss the position with Cryble; and the latter heard him to the end with a narrowed, searching vision.

“That money out of the business now might leave us on the bank,” he asserted. “As I see it, there's but one thing to do—go over all the timber, judge what we actually will need for coaling, buy that—or, if we must, put another mortgage on it—and let the rest, a good two-thirds, go.”

This, Alexander acknowledged to himself, was the logical if not the only course. And then John Wooddrop would purchase the remainder; he would have enough charcoal to keep up his local industries beyond his own life and another. All his—Alexander's—planning, aspirations, sacrifice, would have been for nothing. He would never, like John Wooddrop, be a great industrial despot, or command, as he had so often pictured, the iron situation of the state. To do that, he would have to control all the iron the fumes of whose manufacture stained the sky for miles about Harmony. If Wooddrop recovered an adequate fuel supply Alexander Hulings would never occupy a position of more than secondary importance.

There was a bare possibility of his retaining all the tracts again by a second mortgage; but as he examined that, it sank from a potentiality to a thing without substance. It would invite an investigation, a public gleaning of facts, that he must now avoid. His pride could not contemplate the publication of the undeniable truth—that what he had so laboriously built up stood on an insecure foundation.

“It is necessary,” he said stiffly, “in order to realize on my calculations, that I continue to hold all the timber at present in my name.”

“And that's where you make a misjudgment,” Cryble declared, with an equal bluntness. “I can see clear enough that you are letting your personal feeling affect your business sense. There is room enough in Pennsylvania for both you and old Wood-drop. Anyhow, there's got to be somebody second in the parade, and that is a whole lot better than tail end.”

Alexander Hillings nodded absently; Cryble's philosophy was correct for a clerk, an assistant, but Alexander Hillings felt the tyranny of a wider necessity. He wondered where he could get the money to satisfy the claim of the doctor's heirs. His manufacturing interests in West Virginia, depreciated as they were at present, would about cover the debt. Ordinarily they were worth a third more; and in ten years they would double in value. He relentlessly crushed all regret at parting with what was now his best property and promptly made arrangements to secure permanently the timberland.

Soon, he felt, John Wooddrop must feel the pinch of fuel shortage; and Alexander awaited such development with keen attention. As he had anticipated, when driving from the canal, he saw that the Blue Lump Furnace had gone out of blast, its workmen dispersed. Gisela, the day before, had been to see her father; and he was curious to hear what she might report. A feeling of coming triumph, of inevitable worldly expansion, settled comfortably over him, and he regarded his wife pleasantly through a curtain of cigar smoke.

They were seated in a parlor, already shadowy with an early February dusk; coals were burning brightly in a polished open stove, by which Gisela was embroidering in brightly colored wool on a frame. She had the intent, placid expression of a woman absorbed in a small, familiar duty. As he watched her Alexander Hulings' satisfaction deepened—young and fine and vigorous, she was preeminently a wife for his importance and position. She gazed at him vacantly, her eyes crinkled at the comers, her lips soundlessly counting stitches, and a faint smile rose to his lips.

He was anxious to hear what she might say about John Wooddrop, and yet a feeling of propriety restrained him from a direct question. He had not had a line, a word or message, from Wood-drop since he had married the other's daughter. The aging man, he knew, idolized Gisela; and her desertion—for so John Wooddrop would hold it—must have torn the Ironmaster. She had, however, been justified in her choice, he contentedly continued his train of thought. Gisela had everything a woman could wish for. He had been a thoughtful husband. Her clothes, of the most beautiful texture and design, were pinned with jewels; her deftly moving fingers flashed with rings; the symbol of his success, his——

“My father looks badly, Alexander,” she said suddenly. “I wish you would see him, and that he would talk to you. But you won't and he won't. He is very nearly as stubborn as yourself. I wish you could make a move; after all, you are younger.... But then, you would make each other furious in a second.” She sighed deeply.

“Has he shown any desire to see me?”

“No,” she admitted. “You must know he thinks you married me only to get his furnaces; he is ridiculous about it—just as if you needed any more! He has been fuming and planning a hundred things since his charcoal has been getting low.”

She stopped and scrutinized her embroidery, a naÏve pattern of rose and urn and motto. He drew a long breath; that was the first tangible indication he had had of the working out of his planning, the justification of his sacrifice.

“I admire father,” she went on once more, conversationally; “my love for you hasn't blinded me to his qualities. He has a surprising courage and vigor for an—— Why, he must be nearly seventy! And now he has the most extraordinary plan for what he calls 'getting the better of you.' He was as nice with me as possible, but I could see that he thinks you're lost this time.... No, the darker green. Alexander, don't you think the words would be sweet in magenta?”

“Well,” he demanded harshly, leaning forward, “what is this plan?”

She looked up, surprised at his hard impatience.

“How queer you are! And that's your iron expression; you know it's expressly forbidden in the house, after hours. His plan? I'm certain there's no disloyalty in telling you. Isn't it mad, at his age? And it will cost him an outrageous amount of money. He is going to change the entire system of all his forges and furnaces. It seems stone coal has been found on his slopes; and he is going to blow in with that, and use a hot blast in his smelting.”

Alexander Hulings sat rigid, motionless; the cigar in his hand cast up an unbroken blue ribbon of smoke. Twice he started to speak, to exclaim incredulously; but he uttered no sound. It seemed that all his planning had been utterly overthrown, ruined; in a manner which he—anyone—could not have foreseen. The blowing in of furnaces with hard coal had developed since his entrance into the iron field. It had not been generally declared successful; the pig produced had been so impure that, with working in an ordinary or even puddling forge, it had often to be subjected to a third, finery fire. But he had been conscious of a slow improvement in the newer working; he had vaguely acknowledged that sometime anthracite would displace charcoal for manufacturing purposes; in future years he might adopt it himself.

But John Wooddrop had done it before him; all the square miles of timber that he had acquired with such difficulty, that he had retained at the sacrifice of his best property, would be worthless. The greater part of it could not be teamed across Wooddrop's private roads or hauled advantageously over a hundred intervening streams and miles. It was all wasted, lapsed—his money and dreams!

“It will take over a year,” she went on. “I don't understand it at all; but it seems that sending a hot blast into a furnace, instead of the cold, keeps the metal at a more even temperature. Father's so interested you'd think he was just starting out in life—though, really, he is an old man.” She laughed. “Competition has been good for him.”

All thrown away; in vain! Alexander Hulings wondered what acidulous comment Cryble would make. There were no coal deposits on his land, its nature forbade that; besides, he had no money to change the principal of his drafts. He gazed about at the luxury that surrounded Gisela and himself; there was no lien on the house, but there still remained some thousands of dollars to pay on the carpets and fixtures. His credit, at least, was unimpeachable; decorators, tradespeople of all sorts, had been glad to have him in their debt. But if any whisper of financial stringency escaped, a horde would be howling about his gate, demanding the settlement of their picayune accounts.

The twilight had deepened; the fire made a ruddy area in the gloom, into the heart of which he flung his cigar. His wife embroidered serenely. As he watched her, noting her firm, well-modeled features, realizing her utter unconsciousness of all that he essentially at that moment was, he felt a strange sensation of loneliness, of isolation.

Alexander Hulings had a sudden impulse to take her into his confidence; to explain everything to her—the disaster that had overtaken his project of ultimate power, the loss of the West Virginia interest, the tightness of money. He had a feeling that she would not be a negligible adviser—he had been a witness of her efficient management of his house—and he felt a craving for the sympathy she would instantly extend.

Alexander parted his lips to inform her of all that had occurred; but the habit of years, the innate fiber of his being, prevented. A wife, he reminded himself, a woman, had no part in the bitter struggle for existence; it was not becoming for her to mingle with the affairs of men. She should be purely a creature of elegance, of solace, and, dressed in India muslin or vaporous silk, ornament a divan, sing French or Italian songs at a piano. The other was manifestly improper.

This, illogically, made him irritable with Gisela; she appeared, contentedly sewing, a peculiarly useless appendage in his present stress of mind. He was glum again at supper, and afterward retired into an office he had had arranged on the ground floor of the mansion. There he got out a number of papers, accounts and pass books; but he spent little actual time on them. He sat back in his chair, with his head sunk low, and mind thronged with memories of the past, of his long, uphill struggle against oblivion and ill health.

Veneada was gone; yes, and Conrad Wishon too—the supporters and confidants of his beginning. He himself was fifty years old. At that age a man should be firmly established, successful, and not deviled by a thousand unexpected mishaps. By fifty a man's mind should be reasonably at rest, his accomplishment and future secure; yet there was nothing of security, but only combat, before him.

Wooddrop had been a rich man from the start, when he, Alexander Hulings, at the humiliating failure of the law, had had to face life with a few paltry hundreds. No wonder he had been obliged to contract debts, to enter into impossibly onerous agreements! Nothing but struggle ahead, a relentless continuation of the past years; and he had reached, passed, his prime!

There, for a day, he had thought himself safe, moving smoothly toward the highest pinnacles; when, without warning, at a few words casually pronounced over an embroidery frame, the entire fabric of his existence had been rent! It was not alone the fact of John Wooddrop's progressive spirit that he faced, but now a rapidly accumulating mass of difficulties. He was dully amazed at the treacherous shifting of life, at the unheralded change of apparently solid ground for quicksand.

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