Wooddrop had been a rich man from the start, when he, Alexander Hulings, at the humiliating failure of the law, had had to face life with a few paltry hundreds. No wonder he had been obliged to contract debts, to enter into impossibly onerous agreements! Nothing but struggle ahead, a relentless continuation of the past years; and he had reached, passed, his prime! There, for a day, he had thought himself safe, moving smoothly toward the highest pinnacles; when, without warning, at a few words casually pronounced over an embroidery frame, the entire fabric of his existence had been rent! It was not alone the fact of John Wooddrop's progressive spirit that he faced, but now a rapidly accumulating mass of difficulties. He was dully amazed at the treacherous shifting of life, at the unheralded change of apparently solid ground for quicksand. XIII THOUGH the industries centered in Tubal Cain were operated and apparently owned Cain by the Alexander Hulings Iron Company, and Hulings was publicly regarded as their proprietor, in reality his hold on them was hardly more than nominal. At the erection of the furnaces and supplementary forges he had been obliged to grant such rebates to the Columbus Transportation interest in return for capital, he had contracted to supply them at a minimum price such a large proportion of his possible output, that, with continuous shifts, he was barely able to dispose advantageously of a sixth of the year's manufacture. He had made such agreements confident that he should ultimately control the Wooddrop furnaces; when, doubling his resources, he would soon free himself from conditions imposed on him by an early lack of funds. Now it was at least problematic whether he would ever extend his power to include the older man's domain. His marriage with Gisela had only further separated them, hardening John Wooddrop's resolve that Hulings should never fire a hearth of his, a determination strengthened by the rebuilding of Wooddrop's furnaces for a stone-coal heat. The widespread land speculation, together with the variability of currency, now began seriously to depress the country, and, more especially, Alexander Hulings. He went to Philadelphia, to Washington, for conferences; but returned to his mansion and Gisela in an increasing somberness of mood. All the expedients suggested, the legalizing of foreign gold and silver, the gradual elimination of the smaller state-bank notes, an extra coinage, one after another failed in their purpose of stabilization; an acute panic was threatened.