2. Until this indemnity is paid in full, German troops to occupy Edinburgh, Rosyth, Chatham, Dover, Portsmouth, Devonport, Pembroke, Yarmouth, Hull.

3. Cession to Germany of the Shetlands, Orkneys, Bantry Bay, Malta, Gibraltar, and Tasmania.

4. India, north of a line drawn from Calcutta to Baroda, to be ceded to Russia.

5. The independence of Ireland to be recognised.

Of the claim of £300,000,000, fifty millions was demanded from London, the sum in question to be paid within twelve hours.

The Lord Mayor had, it appeared, sent his secretary to the Prime Minister at Bristol bearing the original document in the handwriting of Von Kronhelm. The Prime Minister had acknowledged its receipt by telegraph both to the Lord Mayor and to the German Field-Marshal, but there the matter had ended.

The twelve hours’ grace was nearly up, and the German Commander, seated in Whitehall, had received no reply.

In the corner of the large, pleasant, well-carpeted room sat a German telegraph engineer with a portable instrument, in direct communication with the Emperor’s private cabinet at Potsdam, and over that wire, messages were continually passing and repassing.

The grizzled old soldier paced the room impatiently. His Emperor had only an hour ago sent him a message of warm congratulation, and had privately informed him of the high honours he intended to bestow upon him. The German Eagle was victorious, and London—the great, unconquerable London—lay crushed, torn, and broken.