"When was this?" asked Beale.

"I really cannot allow myself to be cross-examined, young man," he said severely, "by your accent I perceive that you are of trans-Atlantic origin, but I cannot allow you to hustle me—hustle I believe is the word. The firm of Punsonby's——"

"Forget 'em," said Beale tersely. "Punsonby's has been on the verge of collapse for eight years. Let's get square, Mr. White. Punsonby's is a one man company and you're that man. Its balance sheets are faked, its reserves are non-existent. Its sinking fund is spurlos versenkt."

"Sir!"

"I tell you I know Punsonby's—I've had the best accountants in London working out your position, and I know you live from hand to mouth and that the margin between your business and bankruptcy is as near as the margin between you and prison."

Mr. White was very pale.

"But that isn't my business and I dare say that the money van Heerden paid you this morning will stave off your creditors. Anyway, I'm not running a Pure Business Campaign. I'm running a campaign against your German friend van Heerden."

"A German?" said the virtuous Mr. White in loud astonishment. "Surely not—a Holland gentleman——"

"He's a German and you know it. You've been financing him in a scheme to ruin the greater part of Europe and the United States, to say nothing of Canada, South America, India and Australia."

"I protest against such an inhuman charge," said Mr. White solemnly, and he rose. "I cannot stay here any longer——"