Still, things had looked a bit squally many times before, but nothing had happened. Men had the habit of optimism. No one stopped to analyze the situation, to realize that the very good reason nothing had happened was that the city had always had behind it the strength of the mines, and that now the mines had withdrawn. Out of a clear sky came the announcement that Adams & Co. had failed! At first nobody believed it. Adams & Co. had occupied in men's minds from the start much the same position as the Bank of England. The confirmation of the news caused the wildest panic and excitement. If Adams & Co. were vulnerable, nobody was secure. Small merchants began to call in their credits. The city caught up eagerly every item of news. All the assets of the bankrupt firm were turned over to Alfred Cohen as receiver. Some interested people did not trust Cohen. They made enough of a fuss to get H. M. Naglee appointed in Cohen's place. Naglee, demanding the assets, was told they had been deposited with Palmer, Cook & Co. The latter refused to give them up, denying Naglee's jurisdiction in the matter. The case was brought into court. Then suddenly it was found that Palmer, Cook & Co. had mysteriously lost their paramount interest in the courts. They had counted on the case being brought before their own judges; but it was cited before Judges Hazen and Park, both of whom, while ultra-technical, were honest. The truth of the matter was that the rats suspected Palmer, Cook & Co. of sinking, too, and had deserted. Judges Hazen and Park called upon the firm to turn over to Naglee the assets of Adams & Co. They still refused. One of the partners, named Jones, and Cohen were imprisoned. Some where $269,000 was missing. Nobody knew anything about it. The books having to do with the transaction had mysteriously disappeared. Two days later an Irishman found them floating in the bay, and brought them to the court. But the crucial pages were missing. And then suddenly, while both Judge Hazen and Judge Park were out of town, application was made to the Supreme Court--of which Judge Terry was head--for the release of Jones and Cohen. The application was granted. So an immense sum of money disappeared; nobody was punished; it was all strictly legal; and yet the dullest labourer could see that the whole transaction amounted to robbery under arms. Failures resulted right and left. Wells Fargo & Co. closed their doors, but resumed within a few days. A great many pocketbooks were hit. There was much talk and excitement. XXXVII On an evening in October, returning home at an early hour, Keith found Nan indignant and excited. She held in her hand a tiny newspaper, not half the usual size, consisting only of a single sheet folded. "Have you seen this?" she burst out as Keith entered. "Isn't it outrageous!" Keith was tired, and sank into an easy chair with a sigh of relaxation.