to the explanation of the resolutions which he intended to submit to the meeting there was perfect unanimity. A thunder of applause greeted the proposals to increase the capital and release the stock. Above all heads could be seen Maugendre's fat hands clapping vigorously. On the foremost benches, too, the directors and employees made a furious uproar, through which pierced the voice of Sabatani, who had risen to his feet and shouted 'Brava!' as though he had been at a theatre. All the resolutions were then adopted by acclamation. Saccard, however, had planned an incident, which was introduced into the proceedings at this point. He was aware that he was accused of gambling, and wished to efface even the slightest suspicions from the minds of distrustful shareholders should there be any in the hall. Accordingly, Jantrou, whom he had coached, rose up, and addressing the chairman in his thick, husky voice, exclaimed: 'I believe, Mr. Chairman, that I am acting as the mouthpiece of many shareholders in inquiring if it is certain that the Bank possesses none of its own shares!' Hamelin, who had not been forewarned, remained embarrassed for a moment. Then he instinctively turned towards Saccard, who had hitherto been hidden away in his seat, but who now suddenly rose, and, perched on tip-toe to increase his stature, replied in his strident voice: 'No, not one, Mr. Chairman!' Bravoes, no one knew why, again burst forth at this announcement. Though Saccard really lied, it was nevertheless a fact that the Bank had not a single share standing in its own name, since Sabatani and the others covered it. And that was all; there was some further applause, and then they all made their exit amid gaiety and noise.