“And there is nothing you can do?” asked Montague.

“Nothing,” he answered.

“Tell me, General, is your institution sound?”

“Perfectly sound.”

“And you have done nothing improper?”

“Nothing.”

“Then why should you fear Waterman?”

“Why?” exclaimed the General. “Because I am liable for eighty per cent of my deposits, and I have only five per cent of reserves.”

“I see!” said Montague.

“It is a choice between Stanley Ryder and myself,” added the other. “And Stanley Ryder will have to fight his own battle.”