"He will beat them," he thought, passing on the paper. "He will go far. I must be his friend." Aloud he said carefully: "Of course, Mr. Slade, at the bottom the affairs of the Associated Trust are absolutely solvent." "Solvent under any system of banking in the world which does not withhold ready money on proper guarantees," said Slade, looking at him with a glance that showed the lawyer he had received his alliance; "solvent as the Atlantic Trust was, is, and will be proved to be. You gentlemen know that as well as I do." "Of course, Mr. Slade," said Steele, with an appearance of aggressiveness which the other understood perfectly, "one thing must be understood—the present speculative operations of the Trust Companies can not go on." "Now, gentlemen, to finish up," said Slade, who seized the hint. "Here’s my answer: I will agree to any legislation, in fact will urge it, that will place the Trust Companies on the basis of the National Banks; that is, on the same conservative basis of loans and transactions. That is right. I am now convinced that it is for the best." He allowed a slight smile to show and continued: "I will resign as President of the Associated Trust three months from to-day. That I had already determined on. For what I wish to do, that would only be an embarrassment. You will lend me the five millions I wish and, better still, tomorrow morning make a simple announcement to the effect that, having consulted on the affairs of the Associated Trust, you have found no reasons for apprehension, and announce that you will come to its support. Sign it Fontaine, Gunther, McBane, Marx and Stone, and the run on the banks will end in twenty-four hours. Tomorrow morning I will personally assure Mr. Steele, by an examination of my books, that affairs are as I have described. After this examination you can place five millions to my disposal—if necessary. Believe me, this is a much better way to end the panic. You reassure public confidence by your guarantee. The other way, by forcing my resignation, you create an impression that everything is rotten. Besides, the first way has this advantage—it is the only way. That’s my word, gentlemen; if you intend to stop the panic you’ve got to float me!" An hour later, having yielded not a jot of his position, turning a deaf ear to threats, expostulations and arguments, he rose victorious. In the anteroom he went up to Gunther, who was still bowed over his solitaire, waiting grimly until his word had been carried out. "Mr. Gunther," said Slade, stopping at the table, "we have come to an understanding. The gentlemen in the other room were agreeably surprised at my exposition of the affairs of the Associated Trust. They are going to lend me five millions." "Indeed!" said Gunther in a sort of grunt but with a countenance so impassive that Slade was moved to admiration.