“Much in that, do you think, sir?” inquired Hugo, passing the telegram back to him.

“Oh, a little flurry in the market possibly,” said Mr. Wakeham. “What do you think about that, Schaefer?” Mr. Wakeham continued, handing him the wire.

Professor Schaefer glanced at the telegram. “My God!” he exclaimed, springing to his feet. “It is come, it is come at last!” He spoke hurriedly in German to his friend, Meyer, and handed him the telegram.

Meyer read it. “God in heaven!” he cried. “It is here!” In intense excitement he poured forth a torrent of interrogations in German, receiving animated replies from Professor Schaefer. Then grasping the professor's hand in both of his, he shook it with wild enthusiasm.

“At last!” he cried. “At last! Thank God, our day has come!”

Completely ignoring the rest of the company, the two Germans carried on a rapid and passionate conversation in their own tongue with excited gesticulations, which the professor concluded by turning to his hostess and saying, “Mrs. Wakeham, you will excuse us. Mr. Wakeham, you can send us to town at once?”

By this time the whole company were upon their feet gazing with amazement upon the two excited Germans.

“But what is it?” cried Mrs. Wakeham. “What has happened? Is there anything wrong? What is it, Professor Schaefer? What is your wire about, Garrison?”

“Oh, nothing at all, my dear, to get excited about. My financial agent wires me that the Press will announce to-morrow that Austria has presented an ultimatum to Servia demanding an answer within forty-eight hours.”

“Oh, is that all,” she said in a tone of vast relief. “What a start you all gave me. An ultimatum to Servia? What is it all about?”