then would be the time for his ultimatum. The terms of this, beyond a declaration of general discontent, were still hazy in his brain, befogged by malt liquor and inflamed by hatred of the world, but a glowing conviction that their marriage had been a failure through her fault was a satisfactory substitute for definiteness. Brooding like a spider in its web, secretive, hoping that something would turn up to put him on his feet again, yet almost reckless in his attitude, and drinking assiduously, he drifted on without aim. His evenings were spent at his workingmen's club, where he continued as an outlet to his feelings to deliver virulent philippics, which he realized as he uttered them were a sorry equivalent for personal success. While thus limp and embittered, a final mishap impelled Emil to action. It happened that the broker on the same floor as the office where he had desk-room, and with whom he was on familiar terms, let him in for a disastrous tip and put the screws on when the market went the other way. The sum involved was three hundred dollars, the total residue of Emil's capital, which he had allowed to remain untouched with this false friend in order not to be entirely without the means to speculate. The advice offered had seemed to be friendly and disinterested. When the result proved disastrous the victim promptly suspected guile. Certainly he encountered a flinty demeanor, as though the proprietor of the "bucket-shop" were cognizant of the impecuniosity of his customer and had decided to squeeze him dry and break with him. This from the man whose social status on the street he had championed seemed to Emil rank ingratitude. Yet the broker was making no more than ordinary business demands upon him. His margin was exhausted, and the transaction would be closed unless he supplied additional security. This was business-like, but not friendly, as it seemed to Emil, especially as the ingrate, who had been so confident of the value of the tip, chose now to be sphinx-like as to what the next day's price of the stock would be. All he would vouchsafe was that it would go up sooner or later.