At first, the burden of his calamity seemed too hard to bear. Fifty thousand dollars! While he had possessed it, never dreaming of its loss, he had not appreciated its magnitude, but now that it was gone, he realized what a sum of money it was. So marvellously easy to lose; so tremendously difficult to regain. But presently, since he was young, and by no means a coward, he managed to recover his courage. He had made a bad mistake, but so had other men; he had a difficult task before him, but others had faced problems still more difficult, and had triumphantly solved them. Therefore he resolved that beginning with to-morrow he would put the past behind him, and would think only of the future; but this afternoon he would not try to plan--his brain was weary and the tragedy of the day was still too recent and too deeply in his thoughts. And suddenly, as he lived over again the past few weeks, it dawned upon him that he had been quite mad, and not he alone, but all these other men who had sat and talked and laughed their futile laughter while the narrow ribbon of the tape spelled ruin for them before their very eyes. How had he dared, he wondered--how did any of them dare--to speculate in stocks? What did they know of real conditions throughout the world? In the papers they read bits of news, already stale and cold, and this news they swallowed and assimilated until at last they mistook its effect upon their minds for the process of original thought. So it had been with him. Over and over again, for days, he had read, first in one form, then in another, the news that Steel was going up; until he had ended by believing it with a fervor that nothing could shake; imagining, moreover, that he had shrewdly reasoned this out for himself, that he was a good judge of commerce, finance, trade--that because of his ability he could make a fortune in stocks--he laughed ironically; disillusionment had been absolute, complete, a hammer stroke--"The Boy Gambler," he murmured to himself, "A Story of Punctured Pride."

Twilight deepened; the night breeze, grateful and refreshing, swept across the water, and all at once Atherton remembered that he had not eaten since his ill-omened luncheon and that he was ravenously hungry. "It's lucky," he reflected, "that I've enough left for a meal," and forthwith made his way toward the Sign of the Peacock, a café where he knew that evening dress was not required, and where food, wines and music vied each with the other in excellence.

The head waiter greeted him with his customary smiling welcome. "All alone to-night, Mr. Atherton?" he inquired; and Atherton, answering mechanically, "Yes, for one, please," was shown to a table near the window, but no sooner had he seated himself than Henri, the second in command, came bustling up to him. "Ze zhentlemen," he explained, "across ze room--zey ask ze honnaire--" and he waved his hand with a gesture deprecatory but inviting.

Atherton glanced in the direction indicated, and immediately recognized the two men as friends and classmates of his college days. Blagden, tall, dark, good-looking, had been one of those attractive but unreliable students who are more brilliant than successful, more admired than liked, so that on the whole his University course had been more spectacular than satisfying. But though open to plenty of criticism on other grounds, no one had ever denied him the qualities of courage, coolness and "nerve," and these had won for him outdoors the title of tennis champion, indoors the still more valuable reputation of being the best poker player in college. The other man, thickset, solid, rosy, with the neck of a bull, was "Tubby" Mills, guard upon the eleven for three seasons; never quite of "All-America" timber, but steady, dependable, and always managing to let the man opposed to him in the line realize, before the game was ended, that he had been through an afternoon of exercise perhaps more strenuous than beneficial. Stolid but likable, "Tubby" made up in genial good nature what he perhaps lacked in brains.

Atherton rose at once, crossed the room and took the vacant chair at their table.

"Well, well," Blagden greeted him, "how goes it, old scout?" And so strong is the force of habit that Atherton, despite the day's reverses, rejoined, "Oh, first-rate, thanks. How is it with you?"

"Fine," Blagden responded, "couldn't be better. Everything lovely."

"And you, Tubby," said Atherton, turning to Mills.

"Oh, pretty good," the chubby one answered, and pushing the bill of fare toward Atherton, he added, "Here, what will you have? This is on me. Better try a porterhouse with onions; we've ordered some fizz."

Atherton followed his advice, and the talk, running back to college days and college classmates, dealt for a time wholly with the past until at last, after a pause, Blagden asked the question that Atherton had been expecting, "And what are you doing with yourself now?"