"All that is plain enough," the president replied promptly. "A large
portion of these bills have been at various times discounted for us
in the People's Bank, and in other banks, when we have needed
money."

"But why should we be in such need of money?" inquired the director
earnestly. He had been half asleep in his place for over a year, and
was just beginning to get his eyes open. "I believe we have had no
serious losses of late. There have been but few fires that have
touched us."

"But there have been a good many failures in the last six months,
most of which have affected us, and some to quite a heavy amount,"
returned the president. "Our post-note business has proved most
unfortunate."

"So I should think if it has lost us a hundred thousand dollars, as
appears from this statement."

"It is useless to look at that now," said Mr. Lawrence. "The great
business to be attended to is the raising of means to meet this
trying emergency. How is it to be done?"

There was a deep silence and looks of concern.

"Can it be raised at all? Is there any hope of saving the
institution?" asked one of the board, at length.

"In my opinion, none in the world," was replied by another. "I have
thought of little else but the affairs of the company since