The following day, early in the afternoon, Lionel Derwent walked into the Columbian Club. It was a place that he did not usually frequent, though he had a stranger’s membership; but we have already learned that Derwent was most usually to be found in most unusual places. No one was in the morning-room but old Mr. Livingstone; he was sitting in his accustomed armchair by the window, a chair in which he had a right of property between the hours of three and five in the afternoon that all the club respected. Mr. Livingstone did not notice Derwent when he entered; perhaps because he was growing very old and his sight and hearing were defective. His eyes were fixed upon an empty chair in front of him and he seemed to be lost in thought. Derwent took up a newspaper and sat down in another corner of the room. We are fond of saying in New York that life there moves so rapidly that the morning paper is already stale at three. Hence, have we no Homers; who sing some ten years’ action and take a lifetime for it. But to Derwent, the newspapers’ deeds were stale even in the doing: humanity at three o’clock was like humanity at nine. Two young men entered, fresh and rosy, with camelias in their coats; they were of those who toil not, neither spin. “Do you know, they say that Townley & Tamms have failed?” “So I hear. Great ball, last night.” “Ugh--I’m sleepy yet.” Derwent looked back to his paper. Mr. Livingstone did not appear to have heard this colloquy, but was sitting idly as if dozing. In the financial column Derwent found, at last, a simple paragraph: “Owing to the illness of Mr. Phineas Tamms and the temporary absence of the senior partner, the house of Townley & Tamms are reported as temporarily unable to meet their obligations. The rumor created much excitement at the close, and several thousand shares of Allegheny Central were sold for them under the rule. This is believed to account for the sudden weakness in that stock, which was particularly strong at the morning board. We are assured that the difficulty is but temporary; as the house is one of the strongest, as it is the oldest, on the street.” De Witt came in, and nodded a word to Mr. Livingstone, but the old man did not hear him; and Derwent turned over his newspaper to the account of the great fire. This he read with some interest. “There is a rumor that the fire was incendiary,” it concluded; “the head watchman reports that he received a warning that some mischief was to be attempted; and shortly after midnight, getting word that a suspicious boat seemed to be attempting a landing at the river front, he left his post temporarily on a tour of observation; and it was during his absence that the fire broke out. Other than this there appears little ground for ascribing to the fire an incendiary origin; and no possible motive for such a crime can be suggested. The bulk of the property belongs to Mrs. T. Levison Gower, well known as a leader of fashion in our most exclusive circles.”