"What on earth is liquidation?"
"It is nothing very dreadful," said Mr. Halling reassuringly. "Nothing, of course, will be changed here—the works will go on as usual—you can live just as we have been doing lately; we could not expect to entertain, of course, until every one to whom anything is owing is paid off, and then we can do what we like. That is about the English of it, is it not?" he said turning to Mr. Mortomley, who replied with a set face,
"I do not know. I have never been in liquidation."
"But you know plenty of fellows who have."
"I cannot say that I do," was the answer; and he turned a little aside and began toying absently with the articles on the chimney-piece.
"At all events, you see quite clearly we cannot go on as we have been doing," persisted Rupert.
"I wonder we have been able to go on so long—"
"It would not be such a hopeless fight if we were not daily and hourly getting involved more deeply with the General Chemical Company."
"Yes; that is the worst feature of the position; and I confess I cannot understand how it happens."
"But I have explained the whole thing to you fully," said Rupert, looking angry and excited.