Mr. Merrill, a diplomatic mouse of a man—gray, Parisian, dandified—was twisting in his large chair, surveying the others with shrewd though somewhat propitiatory eyes. In spite of his old grudge against Cowperwood because of the latter’s refusal to favor him in the matter of running street-car lines past his store, he had always been interested in the man as a spectacle. He really disliked the thought of plotting to injure Cowperwood. Just the same, he felt it incumbent to play his part in such a council as this. “My financial agent, Mr. Hill, loaned him several hundred thousand not long ago,” he volunteered, a little doubtfully. “I presume he has many other outstanding obligations.” Mr. Hand stirred irritably. “Well, he’s owing the Third National and the Lake City as much if not more,” he commented. “I know where there are five hundred thousand dollars of his loans that haven’t been mentioned here. Colonel Ballinger has two hundred thousand. He must owe Anthony Ewer all of that. He owes the Drovers and Traders all of one hundred and fifty thousand.” On the basis of these suggestions Arneel made a mental calculation, and found that Cowperwood was indebted apparently to the tune of about three million dollars on call, if not more. “I haven’t all the facts,” he said, at last, slowly and distinctly. “If we could talk with some of the presidents of our banks to-night, we should probably find that there are other items of which we do not know. I do not like to be severe on any one, but our own situation is serious. Unless something is done to-night Hull & Stackpole will certainly fail in the morning. We are, of course, obligated to the various banks for our loans, and we are in honor bound to do all we can for them. The good name of Chicago and its rank as a banking center is to a certain extent involved. As I have already told Mr. Stackpole and Mr. Hull, I personally have gone as far as I can in this matter. I suppose it is the same with each of you. The only other resources we have under the circumstances are the banks, and they, as I understand it, are pretty much involved with stock on hypothecation. I know at least that this is true of the Lake City and the Douglas Trust.” “It’s true of nearly all of them,” said Hand. Both Schryhart and Merrill nodded assent. “We are not obligated to Mr. Cowperwood for anything so far as I know,” continued Mr. Arneel, after a slight but somewhat portentous pause. “As Mr. Schryhart has suggested here to-day, he seems to have a tendency to interfere and disturb on every occasion. Apparently he stands obligated to the various banks in the sums we have mentioned. Why shouldn’t his loans be called? It would help strengthen the local banks, and possibly permit them to aid in meeting this situation for us. While he might be in a position to retaliate, I doubt it.”