Even the most optimistic of the group had doubted that it could be done; yet they had agreed that it was their only chance to complete the merger that would make them a power in the theatrical industry. Now their hopes had prospered.

“We are relying on this, Mr. Wilberton,” said Griscom, “and I know that these gentlemen would like to have your positive assurance that the money will be forthcoming. One month from today is the time that we have set for the final deal.

“At present, we are ready to announce the merger. It will have a marked effect upon the values of the various stocks concerned. Without a doubt, our holdings will be considerably more valuable one month from to-day.”

“I agree with you,” replied Wilberton.

His words brought new assurance to the group.

“We may consider it positive, then?” insisted Griscom.

Stanley Wilberton pursed his lips. He looked at the men about him. There was something in his expression that changed their hopes to doubts.

“You say that your holdings will be more valuable a month from to-day,” he said. “I have agreed with you — considering the matter from a normal view. But there are certain elements that pervade the theatrical business to-day that have a very definite bearing upon its financial standing.”

“It’s a stabilized business, to-day, Mr. Wilberton,” interrupted a short, dark man who was sitting at the center of the table. Griscom signaled to him for silence.

It was George Ballantyne, secretary of United Theaters, who had spoken. He was an important man in the corporation; but now was no time for an objection on his part.