fort, where they promptly met him. As he expected, it was for him a most trying and embarrassing meeting, owing to the positive assurances he had given on the strength of his own advices that the loan already made would relieve the North American Company of all difficulties, and he at first found very unwilling listeners to his proposition for a further and larger advance. But, after two days of hard pleading, the desired help was granted once more. He was conscious, nevertheless, that the trust of his financial friends in him was shaken and that nothing more could be expected from them.
He declined, however, to follow the summons to New York, and offered his resignation as president of the North American Company, when the message was repeated every few days. He refused to go solely on account of his daughter's health. In other respects it would have been a boon to him to start for the other side, thereby ending the harassing condition of mind he endured day and night, as he had not a single person to advise with at Freiburg, and as the reports regarding the conditions in Wall Street grew more and more ominous from day to day. An all but crushing blow fell upon him finally when the news came of the failure of Decker, Howell & Co., who had been for years his principal brokers, for twelve millions of dollars, on November 11, 1890. Press despatches of the same date announced that it was generally expected that his own bankruptcy would follow that of the firm. There was not the remotest danger of this, as he was a large creditor of theirs, and not a debtor; but he knew that the collapse of the house imperilled the North American Company, for which it had carried loans of millions. This culmination of troubles really left him no choice but to cross the Atlantic. This he did after another visit to Berlin, during which an unusual incident worth recording occurred.
Mr. Villard received a call at his hotel from the aide-de camp of the Imperial Chancellor, General Count Caprivi. The aide stated that the Chancellor, although he had never
