So scared was Moser by this question that his eyes dilated and started from his head. For months past it had been current gossip at the Bourse that Gundermann was watching Saccard, that he was fostering a fall in Universals pending the moment when, at the approach of some settling day, he would suddenly decide to strangle it by overwhelming the market with the weight of his millions. And so, if that last day of the year threatened to be so warm, it was because everybody believed and repeated that the battle was now at hand, one of those merciless battles in which one of the contending armies is left prostrate on the field, annihilated. However, can one ever be certain of anything in that sphere of falsehood and strategy? The surest things, the things prophesied with the most certainty, became, at the slightest breath, subjects of distressful doubt.

'You deny the evidence?' murmured Moser. 'To be sure, I haven't seen the orders, and one can assert nothing positively. What do you say, Salmon? Surely Gundermann cannot let go now!'

And he no longer knew what to believe at sight of the silent smile of Salmon, which seemed to him to grow keener and keener until it expressed extreme cunning.

'Ah!' he continued, protruding his chin in the direction of a stout man who was passing, 'if he would only speak, I should have no worry. He sees things clearly.'

It was the celebrated Amadieu, who still lived upon his success in the affair of the Selsis mines, the shares in which he had purchased at fifteen francs apiece in a fit of imbecile obstinacy, selling them later on at a profit of fifteen millions, the whole venture succeeding through pure luck without there having been either foresight or calculation on his part. He was nevertheless venerated for his great financial capacity; a whole court followed him, trying to catch his slightest words, and playing in the sense which they seemed to indicate.

'Bah!' exclaimed Pillerault, swayed by his favourite theory of recklessness, 'the best way, after all, is to follow one's idea, come what may. There is nothing but luck. A man is either lucky or unlucky. Well, then, he should not reflect. Every time that I have reflected, I have been nearly ruined. Look here! as long as I see that gentleman yonder at his post, looking as though he wants to devour everything, I shall go on buying.'

With a gesture, he had pointed to Saccard, who had just arrived and stationed himself in his usual place, against the pillar of the first arch on the left. In this wise, as was the case with all the managers of important establishments, his whereabouts was known. Clerks and customers knew for certain where to find him as soon as the Bourse opened. Gundermann, alone of all the chief financiers, affected never to set foot in the great hall; he did not even send an official representative thither; but one could divine the presence of an army which obeyed his command, so that, although absent, he nevertheless reigned as sovereign master, exercising authority through the legion of remisiers and brokers who brought his orders, to say nothing of his creatures, who were so numerous that you could never tell who might not be one of his mysterious soldiers. And it was against this indiscernible but ever active army that Saccard in person openly contended.

There was a bench behind him in the corner by the pillar, but he never sat down; treating fatigue with scorn, he remained standing during the two hours which the market lasted. In moments of unconstraint he would at the most rest his elbow against the stone-work, which, up to a height of five or six feet, had been darkened and polished by repeated rubbing; and, indeed, this was a characteristic feature of the dull, bare building, for on all sides, across the doors, along the walls and up the staircases, you perceived the same broad band of shiny dirt, a filthy 'dado' as it were, the accumulated sweat of generations of gamblers and thieves. And amidst these black-edged walls Saccard, in broadcloth and dazzling linen, scrupulously elegant, like all the boursiers, displayed the amiable, tranquil expression of a man who has no worry.

'You know,' said Moser, lowering his voice, 'it's said that he keeps up the rise by large purchases of stock. If the Universal gambles in its own shares, it is lost.'

Pillerault began protesting. 'More tittle-tattle!' said he. 'Can anybody say exactly who sells and who buys? As for Saccard, he's here for the customers of his Bank, which is only natural. And he's here, too, on his own private account, for I've no doubt he gambles with his own money.'