Cartwright's face got red. Ellen was well informed; in fact, it was ominous that she knew so much. Had she not been greedy, he thought she would have kept the shares in order to vote against him, but she obviously meant to sell them before the crash she expected came. If a number of others agreed with her, his retirement would be forced.

"What price were you to pay?" he asked.

Mrs. Cartwright told him, and he laughed. "If Ellen found a buyer at a number of shillings less, she would be lucky! Well, I understand you didn't take her offer?"

"I did not," said Mrs. Cartwright tranquilly. "When I wanted to buy some shares not long since, you did not approve. Since you refused to let me help, I didn't mean to be persuaded by Ellen Seaton!"

"You're staunch," said Cartwright and Mrs. Cartwright resumed her knitting. In the morning he went to the office sooner than usual, but there was no news and the dark, cold day passed drearily. When he started for home Gavin promised to wait until the cable offices closed, and Cartwright had gone to dinner when he was called to the telephone. When he took down the instrument his hand shook.

"Hallo!" he said hoarsely. "Is that you, Gavin?"

"Yes, sir," said a voice he knew. "Cablegram from Davies just arrived, part in code. I'll give it you slow—"

"Go on," said Cartwright.

"Oreana ashore east Cape Chat, surrounded ice, water in fore hold. Think some plates broken; have abandoned ship. Salvage impossible until ice breaks."

There was a pause, and Gavin added: "That's all. Have you got it, sir?"