snowing, and the March wind, blowing straight up Broadway from the bay, swept the white flakes northward in long, feathery swirls. Mr. French preserved his rigid attitude, though a close observer might have wondered whether it was quite natural, or merely the result of a supreme effort of will.
Work had been practically suspended in the outer office. The clerks were also watching the clock. Every one of them knew that the board of directors of the bagging trust was in session, and that at ten o'clock it was to report the result of its action on the proposition of French and Company, Limited. 'The clerks were not especially cheerful; the impending change meant for them, at best, a change of masters, and for many of them, the loss of employment. The firm, for relinquishing its business and good will, would receive liberal compensation; the clerks, for their skill, experience, and prospects of advancement, would receive their discharge. What else could be expected? The principal reason for the trust's existence was economy of administration; this was stated, most convincingly, in the prospectus. There was no suggestion, in that model document, that competition would be crushed, or that, monopoly once established, labour must sweat and the public groan in order that a few captains, or chevaliers, of industry, might double their dividends. Mr. French may have known it, or guessed it, but he was between the devil and the deep sea—a victim rather than an accessory—he must take what he could get, or lose what he had.
"Nine fifty-nine!"
Kirby, as he breathed rather than spoke the words, threw away his scarcely lighted cigarette, and gripped the arms of his chair spasmodically. His partner's attitude 'had not varied by a hair's breadth; except for the scarcely
