"Wasn't it the suicide of the President of the Eleventh National Bank?" he asked.

"Happened after the crash," said T. B. promptly. "Do you remember the extraordinary slump in Russian Fours in April—a slump which, like the drop in Yankees, affected every market? What was the cause?"

"The attempt on the Czar."

"Again you're wrong," said the other; "the slump anticipated the attempt; it did not follow it. Then we have the business of the 9th of August."

"The Kaffir slump?"

"Yes."

"But, surely, the reason for that may be traced," said Elk; "it followed the decision of the Cabinet to abolish coloured labour in the mines."

"It anticipated it," corrected his chief, with a twinkle in his eye, "and do you remember no other occurrence that filled the public mind about that time?"

Elk thought with knit brows.

"There was the airship disaster at the palace. Hike Mills was put away just about then for blackmail; there was the Vermont case—and the Sud Express wreck——"