"No. Odd lots mainly, from time to time. But the price is remarkably steady. It is regarded about as safe as a bond." Smith returned to the seated group. "Gentlemen," he said, "banks do strange things at times, but they are usually grateful for information when it is of value. They have probably never taken the trouble to find out whether the Massachusetts Light, Heat, and Traction was properly protected against a fire--by which I mean a big fire; they probably have assumed that it was. If it were to become known in financial circles that their insurance fund was forty thousand dollars and that they stood to lose one million dollars if there were a big fire in Pemberton Street to-night, how many of those borrowers do you think would be asked by the banks to reduce their loans or to substitute in part other collateral of a less speculative sort? It might even affect the price of the stock on the Exchange rather unfortunately. Some of those directors might have an unpleasant half-hour." He paused. Wilkinson's face expressed the most eager attention. "And I want to say to you, gentlemen, that a general fire in the congested section of this city is in my opinion not so improbable a thing as you Bostonians imagine. The conflagration hazard in Boston's congested district is not a thing one can exactly calculate, but it would be difficult to overestimate its gravity. . . . There's your grenade, Mr. Wilkinson." Wilkinson leaped to his feet. "I see it," he cried. "Leave it to me. It's as good as done. It's merely a question of time." "What are you going to do?" asked Cole, curiously. Wilkinson made for the door. "Do?" he cried. "Do? I'm going to load the grenade. Gentlemen, good morning." CHAPTER III Isabel Hurd sat bolt upright on the stiff and blackly austere divan, and surveyed her friend with mingled surprise and concern. "My dear Helen," she protested, "to my certain knowledge you have seen your cousin only twice this summer, and surely it would not hurt you to go to her reception." "I disagree with you," replied Miss Maitland. "If there is any equity in social obligations, it would decidedly hurt me." "Why, what do you mean?" "Well, just because I take the trouble to watch a certain person select her wall paper, is that any valid reason why I should shed upon that person the effulgence of my eyes? Not that I am a sufferer from effulgent eyes and need the services of an oculist--I'm only quoting--but it seems to me awfully one-sided. I hate Cousin Henrietta's receptions--dull, poky affairs--where Mrs. Parkinson weeps into her teacup and the Misses Pyncheon are apt--most apt--to recite a little Browning. I detest receptions, anyway, and if I have to go to any more of them I shall scream. If you suggest my going to any, Isabel, I shall scream at you!" Miss Hurd smiled a superior smile.