Panama common had closed at 50, a drop of twenty points; there was a fortune to be made in selling even a few thousand shares short of the market. It was Harding's day, indeed.

Eight o'clock and Indiman and I sat awaiting his coming. The electric bell rang sharply, and Bolder ushered in our protege. He came forward, shook hands, accepted a cigar, and sat down.

"You received my note?" said Indiman.

"Yes."

"What did you do?"

"I bought five thousand Pan. com. at 70."

"Oh, the deuce!" and Indiman stared blankly at his guest.

"You see, it's no use—" began the young man, apologetically, but Indiman cut him short.

"No use! And with my message in your hand before the market opened—the exclusive, the absolute information—"

"Here it is," said Mr. Harding, and handed Indiman his own note. The latter glanced at the contents, and suddenly his face changed.