Joe grinned mirthlessly. “They’re all that and then some,” he said. “I’ll show them yet.”

Therefore it was unfortunate for Mr. Stanley Ackerman that he should have chosen this juncture for a second call upon the son of his highly respected deceased acquaintance, William Kent.

Joe had just finished reading a letter from that eminent lawyer, Nicholas K. Ryan, setting forth the law in the matter of breach of contract, when Mr. Ackerman’s accurately engraved card was handed to him. Followed Mr. Ackerman, perfectly dressed, bland, and smiling. His manner had lost nothing in warmth; indeed it was, if possible, more fatherly than ever. He beamed upon Joe, greatly to that young man’s disgust.

“Well, Mr. Ackerman,” he said shortly, “what can I do for you?”

“Why, my dear boy, that is exactly what I was about to ask you,” replied Mr. Ackerman. “I promised myself that the first time I was in Falls City I would drop in and ask if I could be of any assistance in any way.”

“Awfully kind of you,” said Joe in a tone which should have given his visitor warning.

“Not a bit of it, my boy. The signs point to hard times, and the advice of one who has—hem!—a certain amount of business experience may not come amiss. What can I do for you? Out with it! How is the business?”

“The business,” said Joe grimly, “is doing about as well as can be expected—under the circumstances.”

Involuntarily his eyes sought the letter lying open on his desk. So did Mr. Ackerman’s, and as he recognized the huge, sprawling signature of that eminent attorney, Nicholas K. Ryan, a satisfied comprehension came into them.

“Ah,” he said, “you feel the prevailing depression already. I am sorry to say—hem!—it is only beginning. These things move in cycles. Buoyant trade, optimism, expansion; over-expansion, falling trade, pessimism. We are on the down grade now, and have not nearly reached the lowest point. It may be one year or two or three before there is a revival. Those whose businesses are sound will weather the storm; but those who are unprepared will perhaps founder.”