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Micheline, smiling, was listening to flattering tales which the old soldier was relating about Serge. Cayrol, who had got rid of Herzog, was looking for Jeanne, who had just disappeared in the direction of the terrace. The rooms were uncomfortably warm, and many of the visitors had found their way to the terraces. Along the marble veranda, overlooking the lake, chairs had been placed.

Cayrol had taken refuge there with Jeanne, and Mademoiselle Susanne Herzog. This young girl felt uncomfortable at being a third party with the newly-married couple, and welcomed the arrival of the Prince and Micheline with pleasure. Her father had left her for a moment in Cayrol's care; but she had not seen him for more than an hour.

"Well," retorted young Monsieur Souverain, "when the louis is lost the players will still be able to hang themselves." "Yes," concluded Marechal, "then at any rate the rope will bring luck to others." "Gentlemen, do you know that what you have been relating to us is very doleful?" said Suzanne Herzog. "Suppose, to vary our impressions, you were to ask us to waltz?"

"Most interesting!" exclaimed Mademoiselle Herzog. "Pshaw!" said Savinien with ironical indifference, "it takes the place of 'trente et quarante, and is better than 'odd or even' on the numbers of the cabs which pass." "And what do the pigeons say to that?" asked Pierre, seriously. "They are not consulted," said Serge, gayly. "Then there are races and regattas," continued Savinien.

I know her, she will agree to this." "But," said Serge, "I refuse to submit." "In that case you must get out of your difficulties alone." "And how?" inquired the Prince, with astonishment. Herzog looked at him seriously. "By entering on the path which I am ready to open up to you," replied Herzog, "and in which I will guide you. By going in for business."

Still she did not hesitate, for she was loyal and honest above all things. She declared the speculation was a poor one, and did all she could to prevent any of her friends becoming shareholders. The issue of shares was disastrous. The great banks remained hostile, and capitalists were mistrustful. Herzog landed a few million francs. Doorkeepers and cooks brought him their savings.

Groups of horsemen were cantering along the side avenues. Long files of carriages were rolling rapidly by with well-dressed ladies. The capital displayed at that hour all the splendor of its luxury. It was Paris in all its strength and gayety. Herzog stretched out his hand, and calling the Prince's attention to the sight, said: "There's your empire!"

Cayrol and his wife had scarcely been in Paris since their marriage. The banker had joined Herzog in his great scheme of the "Credit," and was travelling all over Europe establishing offices and securing openings. Jeanne accompanied him. They were then in Greece. The young wife's letters to her adopted mother breathed calmness and satisfaction.

In the cool of the winding stairway of steel which led, lighted by electricity, to the trap-door and the ladder down into the tremendous vaults, the world-masters breathed deeply once more, respited from death. Herzog, screaming like a fiend in torment, clawed at the impenetrable steel door, raved, begged, entreated, and tore his fingers on the lock.

They, nevertheless, speedily rallied, and two engagements of equal obstinacy took place on the Schindeleggy and on the mountain of Etzel. The flight of Herzog, the pastor of Einsiedeln, was the sole cause of the discomfiture of the Swiss.