On the following morning they did not think it worth while to go to breakfast, but waited at the foot of the stairs in a body for the postman. He came after what seemed an endless period, and brought quite a bundle of mail. There were a number of twenty-name lists and a quantity of circulars, also one subscription.

Even the Colonel appeared somewhat depressed at this falling off of a clean fifty per cent. in the returns, while the proprietors ascended to the floor above in silence. Perner fell into a chair and rocked gently. Van Dorn stared out of the window, as was his wont. Livingstone walked over and stood before his picture of the bread line.

All at once Perner began to laugh violently. The others turned and stared at him. He rocked harder and laughed louder. The faces of Livingstone and Van Dorn became really concerned. The latter said soothingly:

"Oh, come, old man, that won't do. You're overworked and nervous. You must take it calmly, you know."

But Perner only rocked and laughed more wildly. Finally he gasped out:

"I'm all right! I haven't got 'em! But four subscriptions! A year's work for four men, and one subscription apiece to show for it! The mountain rocked and groaned and brought forth a mouse! Oh, Lord! Ten years' business experience and four subscriptions! Twelve months' hard labor for two well-known artists, several thousand dollars in cash, and four subscriptions!"

He reeled off into another wild fit of merriment, and this time the others joined him. The humor of it had seized them all. Van Dorn toppled over on the couch. Livingstone lay down on a prayer-rug to laugh.

"Four subscriptions!" they shouted. "And Frisby got in a thousand dollars the first day. Cash paid for names, and four subscriptions! The crown-jeweled watch! The marvelous cracker-jack, double-rack, Hackensack camera! Money for Christmas shopping, and checks mailed promptly! Oh, Lord! Oh, Lord!"

They were not so far from hysteria, after all. When at last they could laugh no more, they were weak and exhausted.

"How about our steam-yacht, and houses on Fifth Avenue?" asked Van Dorn, and this was followed by a feeble aftermath of mirth.