"Schindelberger," Max said as he sat down.

"Used to was Schindelberger, Steinfeld & Company in the underwear business?"

Max nodded and his smile began to fade.

"My partner Belz got a couple of the composition notes in the middle compartment in our safe for six years already," Lesengeld continued. "He keeps 'em for sowveneers, on account the feller he took 'em off of—a relation from his wife's—was no good, neither. Which you was telling me you wanted to see me about a business matter."

Max Schindelberger cleared his throat.

"Anybody could have reverses in business," he said.

"Sure, I know," Lesengeld commented. "Only there is two kinds of reverses, Mr. Schindelberger, reverses from up to down and reverses from down to up, like when a feller couldn't pay his composition notes, Mr. Schindelberger, and two years later is buying elevator apartments yet in his wife's name, Mr. Schindelberger." He tapped the desk impatiently. "Which you was saying," he added, "that you wanted to see me about a business matter."

Max coughed away a slight huskiness. When he had started from his luxuriously appointed office on lower Nassau Street to visit Mr. Lesengeld on East Broadway, he had felt a trifle sorry for Lesengeld, so soon to feel the embarrassment and awkwardness incidental to meeting for the first time, and all combined under one frockcoat, the District Grand Master of the I.O.M.A., the President of the Bella Hirshkind Home for Indigent Females, and director and trustee of three orphan asylums and of an eye, ear, and throat infirmary. With the first reference to the defunct underwear business, however, Max began to lose the sense of confidence that the dignity of his various offices lent him; and by the time Lesengeld had mentioned the elevator apartment houses he had assumed to Max all the majesty of, say, for example, the Federal Grand Master of the I.O.M.A., with Jacob H. Schiff and Andrew Carnegie thrown in for good measure.

"The fact is," Max stammered, "I called to see you about the three-thousand dollar mortgage you are holding on Rudnik's house—the second mortgage."

Lesengeld nodded.