tt i9m N^ iYnfiilly pervert tlie facts, in an effort to discredit it as ipucli as. poeoiblc, Tlifere i$ scarcely any kind of business, wl^ic.Li iias not its speculative side, and where the element of risk is entirely eliminated; ^et one would think, from the wild talk indulged in b}' some people, that it is contined entirely to "Wall street, "and that the latter is without any redeeming features whatsoever. Such talk, of course, is the merest kind of rubbish, for any one with a knowledge of the facts will readil}' understand the important part " Wall street " has played in floating government, state and railroad securities. But for the services of the Stock Exchange in making a market for the latter, does any one imagine that it would have been possible to build over 1,800 railroads in the United States with a total mileage of 181,000 miles? It goes without saying that the extension of our railroad system — nearly equal now to the total mileage of all other countries combined — has done more to develop and build up the countrj' than any other cause known. From this it will be seen what a great factor " Wall street " has really been in making the United States the foremost na- tion of the earth. It is a matter of regret that the practice of injecting large quantities of water in our railroad securities cannot be stopped. This j)roc'e8s has made a good many of our se- curities almost worthless and has been the means of causing severe losses to the investing public, and the discredit at- tached thereto, has, in a measure been rellected against ••Wall street": this, however, is manifestly unjust as the •' Watering Can " is not a utensil properly belonging to the •• street," but is owned and controlled by the managers of railroads who use it as they see fit. In the pages which follow this introduction, the reader will liiul an illustration of this, wherein I have given the history of one Albert Btoekliolm's management of a railroad. Kecogiiizing the great importance of the Nicaragua Canal to the commercial world at large, and the urgent INTRODUCTORY. 6 need of it by the United States in particular, I have intro- duced a chapter bearing on the subject, in the hope that the American people will realize the importance of the work and lend a helping hand, either by means of private sub- scriptions or through legislative aid. If my remarks should be conducive in any way toward helping the project along, I shall consider myself amply paid for the time I have spent in gathering necessary data to present the matter com- pletely and intelligently to the reader's notice. The growing importance of women in the business world has also led me to introduce that topic in my story, and I have no doubt that the majority of the female sex would be quite as capable of managing their business affairs as Miss Montague (the heroine of this book) did hers, if they would only go about it in the same manner. That Canada will, at some future time, be annexed to the United States, seems quite certain. Already the political battles in the Dominion are beginning to be fought on the lines of annexation. Believing that it would be for the good of both countries to have them under one head, my charac- ters have been led to discuss the subject in a roundabout way, which I trust the reader will not find the least inter- esting of the various themes presented. In writing a run- ning story I am aware that subjects like this and the Nica- ragua Canal are not ordinarily introduced, owing to a feel- ing perhaps that they do not interest all classes of readers alike. In order to meet that objection, I have written the chapters relating to them in as light a vein as possible, and I am inclined to think that they will prove not only inter- esting, but instructive as well. In presenting a story of the times — in which finance always plays an important part — it would be difficult to do so without passing a few comments on the awful panic which lately swept through the land. It is quite likely that some persons will take exceptions to the conclusions I have drawn regarding the causes which brought about the finan- 6 INTRODUCTORY. cial storm. If so, I can only say that tbey have a perfect ri^ht to their opinions — as I have to mine. Before closing this introduction, it may be well to remind the reader again not to expect- too much as a literary elTort in the pages which follow ; there will then be less room for disappointment. The Author. > ' » ' » J > ■'. ;' FORTUNA. CHAPTER I. In making a voyage across the ocean from the old -world to the new, or vice versa as the case may be, who upon leaving the shores behind has not experienced that quiet but restful feeling which seems to immediately take firm hold of nearl}^ every traveler possessing sea-going qualities ? The knowledge that the little worries usually found in everj'day business are shut completely out from your ex- istence — that nothing can arise en voyage to disturb 3^our mental equilibrium for at least six days — that there is ab- solutely nothing to do bat rest, simply rest carries with it that satisfying feeling nowhere else to be found. All this, providing you are a good sailor and that no urgent reasons exist for wishing you were at home, or on some spot where you could readily communicate with it. Some such reason- ings as these were slowly making their way through the imagination of one of the passengers on board a large transatlantic steamer, and although only a few hours had elapsed since leaving Liverpool, he was already comfortably reclining on one of the regulation steamer chairs gazing lazily, first above at the flitting skies, and then down at the rippling waters as the boat slipped rapidl}"^ through them. All around him was bustle with more or less confusion, some of the passengers still undecided as to the best means of making themselves comfortable, and therefore standing awkwardl}^ around, while not a few were wandering aim- lessly about, with no object in view apparentl}', so it seemed to the on-looker, although no doubt the}^ were endeavoring to become familiar with their bearings. The passenger first 7 8 FORTUNA. noted while mentally joviewing the delights of an ocean voyage, n-i^s, not entirely oblivious to his more immediate surroundings, but was engaged in " sizing up," as it were, the human beings who were to be his fellow travelers. It being the month of September the boat was well filled with the return flow of Americans who had spent the sum- mer in Europe sight-seeing. While engaged in this occupa- tion of " sizing up," his attention finall}" became rivetted upon a couple seated a short distance from where he was reclining. One of them was a young lady apparently not much over twenty years of age, while her companion's age might have been fifty, or even five years beyond that, as his somewhat set features and dignified bearing made it dillicult to guess more correctly. The extreme beauty of the lady was indeed sufficient to attract any one's attention, and in fact, although only a few hours had passed since the ship weighed anchor, she had already received more atten- tion in the shape of glances from her fellow passengers, than is usually allotted to the ordinary individual during a whole trip. It is said that fine feathers make fine birds, and although that is a truism when applied to birds it is often a paraphrase when api)lied to the dress of an individ- ual. In the present case the young woman's modi.^tc had certainly done all that was possible in turning out for her a perfect fitting and becoming gown, but nature had done infinitely more in endowing her with a graceful and superb figure which would have ornamented a dress of the most mediocre description. Nor had nature, which is so bounti- ful to some and so niggardly to others, stoi)ped there, but liH if to show tlie whole of mankind how perfect a creature it could turn out, when so inclined, it had supplied this being with the most delicately chiseled features imaginable, every one of wiiich besj)oke refinement, intelligence and in- nate goodness. Perhaps the most striking part of her beauty was the delicate tinge of her complex i(Mi which con- tained that HoiX warm coloring ho (•flm likfiu-d to the skin FORTUNA. y of a perfectl}' ripened peach ; and with this was hair to match, of that peculiar but beautiful shade of copperish brown, which is so rarely seen : now add large, dark blue e3^es which smiled at you from beneath marvelously long lashes, delicately penciled eyebrows and an absolutely per- fect set of teeth, which looked for all the world like bits of polished ivory, and you have the description, imperfect as it may be, of one of the most beautiful creatures that the sun ever shone upon. The young man first brought to the reader's notice was evidently becoming more and more interested in analyzing the features of the fair unknown, and each moment acknowl- edging to himself that he had never seen so much loveli- ness, even in his wildest dreams. Without any intention of being rude or doing anything likely to attract her atten- tion, he nevertheless seemed unable to turn his thoughts or eyes in any other direction. While thus absorbed a hand was laid on his shoulder, and a voice exclaimed, " Hello, Fred I I have been looking all over the boat for you and was just beginning to think you had gone overboard." The man thus suddenly accosted, immediately sat up, but without in the least betraying his late occupation, and with a slight laugh, replied, " I was just thinking, as you came up, Arthur, of an old German verse, which roughly translated into our mother tongue, runs something like this : (( ( I am, I know not what, I came, I know not wherefrom, I go, I know not whither, And yet, I'm surprised I am so joyful.' Such a feeling of contentment steals over me, when I am on the water. I seem to lose my own identity completely, and like the wanderer in that quotation, only know that I am joyful, without in the least caring to know the reason therefor. However, to be quite candid with you, I have 10 FORTUNA. been studying two different kinds of nature, while sitting here — both of which are incomparable. As we move swiftly along, the glorious skies above with their many tints, and the sun's rays reflected on the water beneath, seem like a never ending kaleidoscope which one never grows weary of watching. That is one kind : quite a different kind, but equally interesting to watch, is that wonderful piece of divinity, talking so animatedly over therewith that middle- aged gentleman " — indicating the direction by a slight in- clination of the head. *' We have visited the Royal Art Gallery in London, the Louvre at Paris and the Vatican at Rome — in fact all the principal galleries in Europe, and you must acknowledge that we have seen nothing in art that can compare in beauty with her. It would be impos- sible for any sculptor to reproduce her features, and the coloring of her complexion would drive an artist wild in trying to imitate. Her every movement is one of grace. Nature's beauties stand revealed, Arthur. What say j^ou ? " " Wiiy simply this, that could the sedate Mr. Tremuine's New York friends hear him talk, they would say he is learning how to love. J/o/i /);>?/," he exclaimed, as he caught a better glimpse of her ; ''she is handsome though. I won- der who they are ? I dare say we shall have an opportu- nity of finding out soon, and in the meanwhile, time and tide wait for no man which applies equally to dinner on ship- board. Come along. Jt is time we were making ourselves presentable." The foregoing conversation was carried on between two young men, botli apparently about thirty years of age. They wert; decidrdly prepossessing in appearance — their well-built figures being ch)thed in fashionable and becom- ing garments, and from their geiu'inl ninkt-np mikI easy bearing, it was (piite evident tiiey were usetl to, luid fre- (pientiMl good Hociety. It is my intention to give a full description of these giMitlenirn later and a very shoit one here, in consciiuence, must sullice. They were both Amer- FORTUNA. 11 leans — bearing the names of Frederick Treniaine and Ar- thur Caldwell — and were on their way home, after an absence of some three months, hurriedly spent in visiting the principal places of Europe. As denoted by their conver- sation, they were intimate friends, and their remarks to each other should be viewedas simply good-natured gossip. Mr. Tremaine was inclined to be reserved, and rarely in- dulged in light talk ; but his friend was of a different mould, possessing a vein of humor which usually asserted itself on the slightest provocation, and which was suffi- ciently infectious to drive dignity to the winds. This ex- planation, concerning two of the important personages in this book, is given thus early, in order that the reader may not accuse either at the start of cretinism in any degree ; a perusal of what follows will prove that they are both sensible men. As the two friends were passing in front of the subjects of their conversation, the one called Arthur, whispered, "that is General Montague, Fred," and stepping up to the person so designated, said ; " how do 3^ou do, General. I had no idea you were on board. Permit me to introduce my friend, Mr. Tremaine." General Montague shook hands cor- dially with each, at the same time expressing satisfaction that they were to be fellow passengers, and then intro- duced his niece, Miss Montague. The whole thing was done so quickly, and was such a surprise to Mr. Tremaine, he could do no more than utter a few words, expressive of the pleasure it aflbrded him to meet General and Miss Montague, and it was a minute or two before he recovered his usual equilibrium of mind. Mr. Caldwell, however, being an old acquaintance of General Montague's — and besides possessing more than the usual amount of sang froid — proceeded to make the most of the opportunitj'', with the result that in a few minutes he and Miss Montague were conversing and laughing like old friends. Mr. Tremaine and General Montague, both being 12 FORTUNA. "Wall street" men, also found}' plenty to say to each other, but the ringing of the dinner bell soon cut short their conversation. It being their first meal on shipboard, they were naturally anxious to be prompt in taking posses- sion of their seats, so as to avoid any possible confusion — they therefore separated with renewed expressions of pleas- ure at their opportune meeting, and with a wish, uttered by General Montague, that they would see a great deal of each other during the voyage. After leaving the Montagues, Mr. Caldwell explained to Mr. Tremaine that General Montague was the senior mem- ber of the banking firm of Montague Bros. & Co., one of the richest and best known firms in existence, which trans- acted business in all parts of the civilized world, having their own houses in New York, London and Paris. "I became acquainted with the General/' he said, "a number of years ago, shortly after I left college. The general and his brother Edward — who I take it must have been Miss Montague's father and who died three or four years ago — were mutually interested with m}- father in a western land deal, in which they all had considerable money invested. I thus became acquainted with both brothers, as I was brought into almost daily contact with them owing to the fact that my father was in ill health at the time which made it necessary for me to look after his alfairs. After my father's death I disposed of his — or rather m}' interest in the land deal, as he left everything to me — to the Mon- tagues' for $500,000, and a big simpleton I was fordoing it as the i)roporty was afterward sold to an English syndicate for something like $10,000,000. In justice to the Mon- tagues, however, I ought to add that they tried their best to dissuade me from selling and stated that the property would eventually become very valuable. It seems that it contained coal and iron njines, which since then have been fully developed ; and the route for a railroad was juojected to run through our tract of land, which of course, gave it FORTUNA. 13 an additional value. I don't know whether the Montagues knew of all this when they purchased my interest, but one thing is certain — they made a good bargain and I a very poor one." " If you have any doubt on the subject, Arthur, I shouldn't think you entertained very pleasant feelings to- ward the General. What did your father originally put into the thing ? " " Oh I as for that part of it, I suppose I fared well enough. Ten people originally went into the scheme, each putting in, I believe, $30,000— or $300,000, in all ; but one by one seven of them dropped out — my father and the Montague brothers buying their shares at about cost — in some cases more and in others less — so that finally those three owned the entire property." " Your father's one-third interest then cost him just $100,000, which you afterward disposed of for $500,000, so that you realized four hundred per cent., from your original investment, beside your original capital. Not a bad specu- lation that, it seems to me ; wish I could strike something of the kind. But tell me, why were you so anxious to sell?" " I really can't tell you, Fred. I suppose because I was a simpleton. I figured it out just as you have. I should not have cared so much if the whole scheme had not originated with my father, who really let the others in on the ground floor. However it is past and gone and I had really forgotten all about it, until it was recalled to my mind by meeting the General. Nevertheless it is galling to think what an idiot I was. Ah ! well, (heaving a sigh) it is too late to cry about it now, but such an opportunity don't come twice in a lifetime. Thank goodness I am fairly well fixed financially as it is : still I should prefer to be a multi-millionaire. Speaking of the latter, Fred, if Miss Montague is a daughter of the late Edward Montague, she must be worth a great many millions. Edward was the 14 FORTUNA. senior partner and accumulated a ver}' large fortune. When Lis will was probated Lis estate was valued, 1 tLink, at $50,000,000, and since tlien at least 15,000,000 in in- terest ougLt to be added, as it was invested in tLe best kind of bonds and mortgages. lie left Lis wLole fortune absolutely to Lis daugLter — wLo was Lis only cLild — to do witL as sLe pleased, wlien sLe reacLed tLe age of twenty- tLree years. I sLould say sLe is about tLat now, but you, of course, are a better judge of tLat tLan I, as you Lave studied her so minutely." " Nonsense, ArtLur. You know perfectly well tLat I was only joking, witL a view of killing time. Besides it seems to me tLat you, if any one, are entitled to find grace in tLe young woman's ej'es, as her near relatives fleeced you (un- intentionally no doubt) out of nearly tLree million dollars. Her marriage to you tLerefore would " laugLing, " seem like an act of restitution. " " No ; no, Fred. You discovered Ler first, beside so mucL wealtli would be a burden, especially wLen sLe gets her uncle's $25,000,000 — wLicL sLe is sure to do, as Le is an old bacLelor. Now you are just fitted for sucL a position. You are one of tLose cool, dignified, intellectual fellows, wLo knows a great deal about finance and would be tLere- fore of great assistance to Ler in looking after Ler invest- ments." "Judging of tLe little I Lave seen of Ler, ArtLur, I should imagine tLat sLe is, or will be, quite capable of man- aging Ler own allairs. If sLe inLerits tLe business abilit}' of tLe Montagues sLe will do it to perfection. But come, wLile we Lave been gossiping Lere, like two scLool girls, tLe otLer passengers are eating tLeir dinners." CHAPTER II. The foregoing chapter has but imperfectly made the reader acquainted with Frederick Tremaine and Arthur Caldwell — two of the important characters in this story — a short biographical sketch of each, therefore, is in order. Arthur Caldwell — or to give his full name, Arthur Dins- more Caldwell — passed in the business world as one who was born to have a good time without any particular am- bition to become greater. He was the only child of parents who fairly worshipped him and who did everything they could to strew his path with roses. When he got old enough to enter college he was permitted to go his own gait, as his father said he did not believe in hampering a young man who possessed such good traits of character, and he was sure that if left unbridled his boy would keep in the straight road, rather than follow a crooked path. Mrs. Caldwell also had great confidence in her son ; and al- though she gave him good counsel from time to time, she never interfered with his movements, and if he was late in reporting for bed sometimes she took it for granted that he was not getting into serious mischief So much indulgence on their part might have proved disastrous to some young men similarly situated, as Arthur was kept liberally sup- plied with pocket money at all times, but it is proper to say that young Caldwell was worthy of the confidence re- posed in him, and although he managed to have a good time he never did anything that could be considered very wrong. Before entering Yale he was sent to a high-school, so as to be better fitted for his Yale examination, and it was here that he first met Frederick Tremaine. The young men took a mutual liking to each other from the start, 15 16 FORTUNA. "U'liich ripened into warm friendship as the dii3S passed. Young Tremaine was one of those evenl}'' balanced individ- uals, who went to school for the purpose of getting all he could out of it, and as a natural consequence, stood at the head of all his classes. He was also one of the best all- round athletes in the school, so that he stood high in the estimation of both teachers and pupils, and was liked by everybody for his sterling qualities. Young Caldwell was no less a favorite with all whom he came in contact, although it is safe to sa}'" that he com- manded a higher position in the estimation of the students than he did in that of the professors. The reason for this was doubtless due to the fact that he was less of a devotee to his studies, than he was to football and other college games. However he managed to keep fairly well up in his classes and when Tremaine received his diploma he was also presented with one. The young men at that time were between eighteen and nineteen years old — both good looking, well-built fellows, measuring, probably five feet nine or ten inches in height, and as I said before, universal favorites — but here the similarit}' ended. Tremaine could hardly be classed as a brunette, although he was somewhat of that order ; while Caldwell was quite fair and in all respects a blonde. As to character Tremaine possessed a stronger and more evenly balanced mind and had more " stick-to-it- iveness " in his composition than 3'oung Caldwell, which would naturally place him on a firmer footing to wage war- fare in life's early struggles for an independence. A good part of this was due, no doubt, to the difl'erence in their respective positions. Caldwell had been brought u\) in the lap of luxury and with the knowledge that what be- longed to his father would sometime or oth(>r fall to him, whereas Tremalne's expectations of what the future hail in store for hiu) were based entirely on his own exertions. He therefore had an incentive to work — which the other lacked, as his future was already provided for — and he in- FORTUNA. 17 tended to keep on working and to spare no eflbrt "wbich hard work would accomplish in winning him a position in life. Tremaine's father had been a cashier in a New York bank for upward of twenty years, and although he received a fair salary he managed to spend the greater part of it as it came to him, in keeping up appearances for himself, wife and son. Fred would have liked to receive one of the higher col- lege parchments — as he was a great believer in education — still he was satisfied to commence his business career at once. Perhaps he did not realize it, but the faithful work he had put in at school had given him a much sounder edu- cation, for business purposes, than that possessed by a good many students graduating from the great colleges. Arthur's plans were made to enter Yale at the beginning of the new term, but as that was several weeks off, he in- tended going south first, with a party of friends on a hunt- ing expedition, and tried to induce Tremaine to accompany him. Fred's father, however, was averse to this, as he had succeeded in finding a position for his son in the office of a well-known Wall street banking and brokerage firm which he was anxious that Fred should except at once. As the opening was a desirable one, young Tremaine, of course, acquiesced in his father's wishes, and a week after leaving school he was in harness, performing his new duties. The young men saw little of each other during the next few years, excepting when Arthur returned home at vacation time, and even then the meetings were not frequent, as Fred was engaged during the day at business, and spent a good many of his evenings attending lectures, or in some other pursuit calculated to enrich his mind. Like most Wall street beginners Tremaine had to commence at the foot of the ladder — ^^his first duties being to deliver stocks and bonds at the different offices on the " street," and as he had also to deliver messages and run errands his position was reall}" that of a messenger boy. He, however, found no 18 FORT UNA. fault with his work, and as he performed his duties in a faithful and intelligent manner he was soon singled out for promotion. By gradation and on the score of merit he was advanced through the various departments of the firm, until, at the end of five years he was given a branch of the main office to manage. Like most young men on "Wall street, the height of his ambition was to become a member of the New York Stock Exchange, but as seats were worth twent}-- five thousand dollars each, it was diflicult to see how his dream was to be realized. The " branch " he had been put in charge of was one of those offices which was little more than self-sustaining, but the firm kept it open in the hope that some time or other its business would increase — as it was situated in a rather good locality. They had been hoping this ever since the branch was started — full}' ten years before — and had changed their managers several times in the interim, but for some reason or other its busi- ness failed to grow. Finally the manager resigned and as Frederick Tre- maine's aptitude for business had shown itself in many dif- ferent ways, the firm felt convinced that he, if any one, could make it a success ; he was accordingly placed in charge. Tremaine's appearance had not changed much since he left school five ^^ears previous, except that he was a trifle heavier and now supported a becoming moustache, which gave him a more dignified and manly bearing, lie had studied hard in the ofliice, and had never missed an op- portunit}'' out of it to increase his knowledge of finance and all matters appertaining thereto, with the result tliat at the age of twenty-four he was more proficient in finan- cial learning tlian thousands who had been actively engaged in business all their lives. When he took charge of the branch office, he was determined that he would nmke it a success, if such a thing were possible, and to that end he worked untiringly; and in less than six months his em- ployers had reason to congratulate themselves for phicing FORTUKA. 19 the office under his control. Business, which had been slack there before, now kept on multiplying until at the end of the year Tremaine's branch showed an average of two thousand shares of stock a da}^, whereas two hun- dred shares was above the average when he took charge of it. The manager's salary on this showing was naturally a good one, and as Ered continued to live economically he succeeded in adding considerable to his bank account, until at the end of ten years from the time he entered Wall street as a messenger boy, he had saved something like fifty thousand dollars. It should be explained, however, that a portion of this — at least half — had been made from judicious investments in real estate and railroad securities. A purchase of some Harlem lots at low figures had shown handsome profits in a comparatively short time, owing to the fact that the city had cut a street through the grounds adjoining. An investment in some railroad shares also showed quick results, so that Fred was now in a position to purchase his long-coveted seat in the New York Stock Exchange and start in business for himself. His capital after paying for his membership, would, of course, be small, but his father — who had accumulated, by this time, twenty thousand dollars — had arranged to go in business with him under the firm name of Frederick Tremaine & Co. Fred was quite willing that his father's name (Alan) should figure instead of his own, as the title under which the new firm would launch out ; but this Tremaine, senior, would not listen to, saying, " My boy, in the first place you put twice the amount of capital in the firm that I do, and in the second, j^ou are a much 3'ounger man, and in all proba- bility will live years after I am gone, so that in time to come you will naturally want to see your own name on the window instead of one which belonged to an individual who has passed in his chips. Beside that, I am not sure that you don't know a great deal more than I do — one thing is certain, you have saved fifty thousand dollars in ten years 20 FORTUNA. while it lias taken me forty years to save twenty thousand. You are clearly entitled therefore to all the glory there is in the name." Such arguments Fred felt were unanswerable. So Frederick Tremaine & Co., it was. CHAPTER III. Frederick Tremaine found no difficulty in having himself elected a member of the New York Stock Exchange, as he was proposed by his former employers and seconded by Arthur Dinsmore Caldwell. The latter had joined the Ex- change four years previous, a year or so after leaving col- lege, having first made a rather extended trip through Europe, accompanied by his father who required a change of scene, owing to the death of his wife. Mrs. Caldwell had contracted a severe cold while attending the annual Horse Show at Madison Square Garden, which developed into pneumonia and shortly afterward terminated fatally. The death of his wife, to whom he was devotedlj^ attached, gave Mr. Caldwell's nervous system a severe shock, and resulted in placing him permanently on the invalid list. The trip to Europe was planned for his benefit in the hope that a change of scene would restore his health : and the trip did seem to do him good, but this new gap in his life was of such a deep and irreparable nature, he was unable to pick up his strength, and a few months after he returned home, Arthur was parted from his remaining parent, who was laid to rest by the side of his beloved wife. The loss of mother and father, who had been so good to him, following so closely one after the other, was naturally a severe ordeal for Arthur to combat, and for a time it seemed to him that life was hardly worth living for, and that a place beside his parents was more desirable than anything else, but gradually time, the healer of all wounds, brought, little by little, drops of comfort to his troubled heart, and as the days went by he became more resigned. Fred Tremaine at this time was of great help to him, and the friendship between the 22 FORTUNA. two men, which started when they were boys, became stronger than ever. The gloom of death in a house of mourning is one of the most difficult things to dissipate, and hangs like a pall around those bereaved. Fred therefor persuaded Arthur to take up his abode for the time being with him. Mr. and Mrs. Tremaine were both hospitable people and as Arthur knew he was a favorite of theirs he readily consented — dismissing his own servants and closing his house. In his will Mr. Caldwell bequeathed his entire estate to his son which, when settled netted very nearly one million dollars. Arthur was therefore well provided for and had sufficient to live on without devoting his energies to business. Fred, however, believed every one should be en- gaged in some form of work and presented the matter to Arthur so forcibly the latter was soon won over to his way of thinking. Fred's thoughts were naturally on the New York Stock Exchange, inasmuch as it was his intention, sooner or later, to become a member of that bod}^ himself, he therefore suggested to Arthur the desirability of his buying a seat and taking his chances with the " bulls and bears." This proposition coinciding with Arthur's ideas was soon carried into effect and a short time afterward he was duly elected one of the " eleven hundred." As Caldwell had never been engaged in any kind of business before, he found his new life rather trying at first and the shouts of the brokers and their wild antics made him think that all bedlam was holding high carnival ; but gradually this feel- ing wore awa}^, and after he had been pummelled for about a montli — first by one member and then by another, until he thought he had run the whole gauntlet a dozen times over — he got accustomed to the new order of things and began to like it. In relating his experience some time afterward he said that he had been obliged to buy a new hat ever}- day during tlie first week, owing to the fact that tiie members used them in playing football, but it finally got so ex- pensive he kept an old hat at his office which he donnc^ FORTUNA. 23 before entering the board. lie got even, however, on all the new members who were initiated subsequently, as each was obliged to go through the same programme. There are three classes of brokers on the floor of the Exchange, namel}' : the commission broker, who executes orders for his clients ; the two dollar broker who transacts business for his fellow members and the room trader — who is sometimes designated the professional broker — who trades for him- self. To the above might be added the arbitrage broker who buys on the New York Stock Exchange, and im- mediately sells on the Boston Exchange, or vice versa according to the quotations ruling on those two Exchanges. The same thing is done to a large extent between the New York, Philadelphia and London markets. Caldwell decided to become a room trader, and before many months had elapsed he proved conclusively that he was well adapted for that kind of work. He was quick to catch the sentiment of the board, and although he was generally conservative in his dealings he possessed a sufficient amount of boldness, coupled with pluck and nervous energy to make a good trader. At first he operated moderately ; but gradually, as he gained confidence in himself and learned the ropes, he launched out on a more extensive scale until finally he was known as one of the heavy room traders. It is a diflicult matter for a person to be a " bull " one day and a " bear " the next, according to the force of circumstances, but Arthur, strictly speaking, was neither an optimist nor a pessimist, consequently he veered from one side to the other, going with the tide, and in most cases came out a winner. At the time Fred became a member of the Exchange, Caldwell had been in the " Board " four years, and his name was already familiar to the tens of thousands who fre- quented Wall street. The slips of the News Agencies daily contained items, such as — Caldwell is bidding the market up, or the market is being raided by Caldwell, as the case 24 FOJRTUNA. might be, and as his wealth was magnified into several millions he was considered a power on the " street," and a number of smaller traders tried to follow him, but it must be confessed with indifferent success. CHAPTER IV. Frederick Tremaine's advent on the floor of the Ex- change was followed by experiences similar to those prac- tised on all newcomers by the older members, but as he bore the ordeal good-naturedly, and trading was rather more ac- tive than usual — thereby keeping the members bus}' — he was soon allowed to come and go unmolested. A new mem- ber of the Exchange who hasn't anything particular to do in the midst of a busy throng, generally finds time hanging heavy on his hands, and so it was with Tremaine, who was anxious to work, but unfortunately had no orders to execute. His firm being just established he, of course, was without clients, but he made the best of it, and now and then executed a two dollar order for some fellow broker, who had more than he could attend to. He expected in time to get a line of customers of his own, who would give him sufficient business to keep him occupied. In the meantime he was averse to speculating on his own account as his capital was limited and he could not afl'ord to run any risk of impair- ing it. Besides he had made up his mind to do strictly a com- mission business, which, after all, is the safest and best in the end. Fred had no misgivings as to the future, as he felt confident that he and his father between them could work up a good paying business ; but like all new concerns it took time to do it. Mr. Tremaine^s position, however, as cashier in a bank had naturally brought him into contact with a large number of monied people and as he and his son were both respected and liked they before long had the satisfaction of doing a fair business, which developed as the months passed by and grew in time to considerable pro- portions. At the end of the first year a larger office wae 25 26 FORTUNA. taken, and a year later a still larger one was deemed nec- essary to provide for the firm's increased patronage. Dur- ing all this time Fred had abstained from taking a vacation, feeling that his presence was necessary at the office in building up his business, but now that it was firmly estab- lished he felt that he needed a little relaxation, as he had worked hard and was run down from it. As his father viewed it in that light he made his arrange- ments for a European trip to last three or four months. The life of a room trader is a fascinating one and so Arthur Caldwell had found it — so much so, that with the exception of a few days off each year, he had remained con- stantly at his post; he left inclined, therefore, to let the market take care of itself for a while, and as Fred was preparing to go to Europe he concluded that it was a good time to slip away also, and decided to accompany him. The trip across the ocean was carried out as planned, and now after having hurriedly visited all the chief places of interest in Europe our friends were on their way home, and the opening chapter in this book finds them on one of the ocean flyers — shortly after leaving Liverpool — bound for New York. When the reader's attention was diverted from the inci- dents related in the first chapter — for the purpose of mak- ing him more fully accjuainted with the lives of Messrs. Caldwell and Tremaine — the writer was under the impres- sion that a brief sketch of each would sulllce : he finds, however, that he has consumed more si)ace than he intended, and therefore not only owes the reader an apology, but tlio Montagues — who are important personages — as well. A narrative to be succinctly and well told sliould commence at the beginning and be carried througli without deviation, to the end, as a part of the reader's interest is naturally lost in looking backward. In this instance the narrator FORTUJSA. 'Al was unable to follow that rule for the reason that he met some of the characters in this work, for the first time, while crossing the ocean, and did not learn of the incidents con- nected with their early lives until some time afterward. With this explanation out of the way, we will now turn our attention once more to our friends on board the steamer. CHAPTER V. When Fred and Arthur entered the salon they found the passengers all seated and the dinner well under wa}'. Two seats together at the captain's table were unoccupied, hav- ing been reserved for them. Arthur noticed that Miss Montague's seat was situated next to the vacant chairs, and anticipating Tremaine's wishes, perhaps, he whispered " take the stool next to her, Fred, and I will guarantee that ever}^ dish set before you will taste as though it were prepared by Delmonico's chef." Nothing loath, Tremaiue took the seat designated. " We are rather late. Miss Montague," he said, upon sit- ting down, " and I suppose we owe our host, the captain, an apology." " Yes, you are somewhat late, Mr. Tremaine," she replied. " Mealtime always comes to me as a relief, as it breaks the monotony of ship life, and as I am generally a good sailor you will learn that I am punctuality itself when each meal arrives." " You are one of the fortunates, then. Miss Montague," — observed Arthur — " in not being obliged to succumb to the ocean foe. Mr. Tremaine and myself made a good record, in that respect, coming over. As we have been thrown in such good company at the early start going back — we shall have an extra inducement to keep well." " Yes indeed," laughingl}'^ exclaimed Fred, " and 1 am willing to pay any forfeit you may name, Arthur, if I too, am not punctuality itself, during the entire voyage going back." " It is not well to boast too much," said Miss Montague, "of what we will or will not do on shipboard. I remembiM- my uncle — the first time he crossed the ocean — made up ?8 FOETUNA. 29 his mind that seasickness was simply an hallucination which any one could avoid by preserving a stout front and taking plenty of open air exercise. lie proved to his sat- isfaction, however, that something beside that was required, and I am inclined to think he would give almost anything to find out what that something is." " What did you say, Helen ? " asked General Montague, catching the sound of his name. " I was remarking, Uncle Charles, that you did not al- ways find comfort on board ship, taking one of your recent experiences as a criterion." *' No," responded the General, " I am sorry to say I suc- cumb upon the slightest provocation. I did think at one time (before I had tried it) that I would make a good sailor, but that idea has been thoroughly exploded. I pity the sick — because I am generally one of them, and envy the well, because — ah, — because I don't belong to that class. I must confess I feel more at home on terra-firma, and if it were not for this young lady, I should be there now. Ah I well " — and the General heaved a sigh at what he an- ticipated was in store for him — " it may not be so bad this time. Captain " — addressing the head of the table — " are you willing to indulge in any prognostications regarding the weather we are likely to experience this trip ? My young friends here " — waving his hand in the direction of Fred and Arthur — '* are prone to seasickness and are anx- ious to know what the barometer portends. Give them some encouragement if you can," and the general laughed heartily, in which the whole table joined. Captains of steamships are asked this question so often by some passengers who are really anxious to know, and by others who merely enquire with a view of saying some- thing — that they as a usual thing answer with a gruff " I don't know, sir ; you will have to wait to find out," but General Montague's high standing in life was well known to the commander, and beside that he was one of the kind who 30 FORTUNA. consklered tba,t politeness is one of tlie requisites of a gentleman under any and all circumstances. He therefore answered General Montague's question good-naturedly — saying, '* General I am sorry I cannot give your friends much consolation ; this is the season of the year you know when storms are generally looked for, and although it does happen sometimes that good weather prevails for a whole trip, I would rather take my chances in predicting the opposite." The captain noticed that General Montague's chin suddenly dropped on hearing this ; he therefore added, "Your friends, however. General, must not take my words too sincerely ; a little blow makes the voyage all the more pleasant and breaks the monotony of the trip — for some," and the captain laughed. "I remember coming over last time we had two or three days of remarkably fine weather, and one young lady sitting at my table was com- plaining that she was afraid it was going to last the whole voyage, and for her part she wished we might have a blow just to see what it was like. Well, she had her wish the next day, and I afterward heard her remark to her mother that nothing would induce her to cross the ocean again. So 3'ou see it is hard to please every one." The captain here asked to be excused, as he was obliged to goon deck to relieve the first officer. After his departure several of the guests also got up, leaving, in addition to those already introduced to the reader's notice, four others — two ladies and two gentle- men. The Montagues seemed to be well acquainted with these people, for after indulging in a few words of conversation with them, the general turned to Mr. Tremjiine and Mr. Caldwell and presented them, in the order in which they sat, to Lady Constance Grandwell, Monsieur Kemierc, Mrs. Montgomery and Lord Grandwell. These four people as a pait}', were on their way to America for the first time, where they intended spending FORTUNA. 81 several moiitLs in traveling, visiting all tbe principal cities, even as far as the Pacific coast — and, of course, taking in, among other things, Yellowstone Park with its ten thou- sand boiling springs and geysers ; its many grand water- falls, deep carion and rugged mountain peaks — a sight well worth seeing. Lord Grandwell had first met General Montague and his «neice at a large reception given in their honor by one of the general's London partners, and had afterward entertained them himself at his town house. The firm of Montague Bros. & Co., stood so high and was so well known throughout the length and breadth of the land, the General and Miss Montague naturally had much attention showered on them wherever they went : and their stay in London and Paris was marked by one continual round of entertainment, given by people who frequented the most aristocratic and exclusive circles. In this manner the Grandwells and Montagues had seen a great deal of each other, and it was partly through the gen- eral, who gave glowing accounts of America that the earl and his sister accompanied by M. Remiere and Mrs. Mont- gomery were now visiting that country, although it is within the range of possibilities that Miss Montague's charm- ing society may have had something to do with it — at least as far as the earl was concerned — as he had been rather attentive to her in various ways while in London ; so much so, that societj'', looking through its matrimonial horoscope, had already seen her portrait hanging in the gallery of his ancestors. Perhaps the future would prove it to have been only a mirage — at any rate society took a little more for granted than the actual facts, at this time, warranted. Lord Arthur Grandwell sprung from a long line of earls who had always held commanding positions and stood high in the councils of the English government. The present earl was about twenty-nine 3'ears of age, and a good speci- men of the best t3'pe of English gentlemen. He was tall and well formed, with good features — hair and whiskers being 82 FORTUNA. of a hazel-brown color — and, taken altogether, he Tvas cer- tainly a fine looking man. As he possessed more than the average intelligence, backed by a large rent roll, he was naturall}' a great catch in the matrimonial mart. A number of anxious mothers with marriageable daughters — and their fathers too for that matter — had tried to capture the prize, but the earl was clever enough to see through their ma- noeuvres and always gave such people as wide a birth as possible — as he did not intend to be plucked before his time — that is to say, before the promptings of his heart showed him a clear road to happiness. Lord Grandwell had been chiefly attracted in the first place to Miss Montague, owing to her modest bearing and apparent indifference to the admiration she always created wherever she went. Attentions had been lavished on her by lords and dukes — and in one case even by a prince — with a desire of sharing their titles with her : but unlike many of her country women she was not attracted by their high sounding titles, and offered so little encouragement to their advances that most of them gave up in disgust — although a few of them, with less brains than foresight, went so far as to make formal proposals, — with the same result in each case — namely, a declination, with thanks. Miss Montague had seen the evil results arising from some of the so-called, international marriages, and had no desire to jeopardize her happiness for the sake of a title. The writer would like to give a full and complete de- scription of Lady Constance, but as considerable space has already been devoted to her brother — the head of the Grandwell family — a brief description at this time must suf- fice — although her charming personality fully warrants a more extended notice. She was twenty-two years old, bore quite a striking resemblance to her brother, except that she was a more decided blonde and was like him in nmny wa3'S. While not exactly beautiful, or oven handsome, yet both those terms were frequently applied to her — FORTUNA. 33 anyway, slie was certainly an attractive looking girl, and exceedingly popular among her friends of both sexes, on ac- count of her many good qualities. She was the youngest of three daughters (Lord Arthur being the sole son) and was her brother's favorite sister — a fact which was apparent to all, as he often took her with him in his travels — although injustice to him it should be said that he was a model brother, and treated each sister with the utmost considera- tion. Monsieur Jules Remiere was an old friend of the Grandwell family — having been with Lord Arthur at col- lege — and frequently spent several weeks at a time at their country seat in shire. He resided in Paris ; was an influential member in the Chamber of Deputies and although not over thirty years of age, was considered one of the Republic's most important statesmen. His stature was a trifle above that of the average Frenchman, and he pre- sented a very distingue appearance, his dark beard being cut a la Vandyke, so prevalent among his countrymen. Although not a rich man — in the sense the term is applied in the United States — he possessed ample wealth for his needs and lived in good style. Like the Grandwells, this was his first trip to America, and he was looking forward to it with a great deal of pleasure, as he loved to visit new scenes, and had already seen the most of Europe and Asia, as well as a portion of Africa. There remains only one other person to mention — namely, Mrs. Montgomery. She was a distant relative of the Grand- wells, and as she onl}^ accompanied the party as a chaperone, there is no necessity for going into her history. Suffice it to say that she was the widow of an army officer, who had been killed in active service, and as he left her only a moder- ate income, she accepted the earl's invitation to accompany them, with alacrity. She was about fifty years of age, pos- sessed an amiable disposition, and was always ready to fall in with other people's wishes, consequently well suited to fill the office she had undertaken. 34 FOKTUNA. Keturniiig to the salon once more we still find the indi- viduals previousl}^ mentioned seated at the captain's table, although it is evident that they have finished their dinner and are merely tarrying for the purpose of indulging in con- versazione. Presently the General remarks, " Suppose we go on deck and regale ourselves with a good Havana. I have a few left from the stock I brought over with me and shall be glad to share them with you, gentlemen." The General's offer was accepted with alacrit}^, and while he went to his stateroom for the cigars the others went on deck. Their chairs having been procured for them by the deck steward, they were presently joined by General Montague, who re- marked — while passing around the cigars — "what a pity, ladies, you cannot join us." "Yes, uncle," Miss Montague said, "I agree with you, but mankind, through an organization known to the world at large as society, has long since decided that smoking is one of the exclusive rights belonging to man. On w^hat ground I have never been able to determine, for I am quite sure " — laughing — "I could keep a cigar lighted as well as any one. "If one asks for a reason why women are not permitted to smoke, she is told that it is not a nice habit ; that it would not be proper, etc. Now I grant all that, but why then do men indulge? " "I have often wondered myself at the injustice of the thing," said Lady Constance. "But then the men are per- mitted to do so many things, which society looks askance at, if our sex attempts to imitate them. I have long since given up trying to solve the problem. Why is there so much injustice in the world, General?" "I am afraid 1 cannot explain to your satisfaction, Lady Constance. A long established custom permits mj^ sex to do numerous things which your sex, physically, couldn't stand. Smoking ma}^ be one of them. You must recollect, my dear Lady (Jonstuncc, that you are made of more delicate fibre than 1, and what would simply be a nerve tonic for me. FORTUNA. 35 would prove to be poison to 3'oiir delicate sj'stem. It is for good and sufiicient reasons that women have been debarred from smoking and you had better make up your mind to the inevitable." "Oh I have long since made up my mind to that" — laughing — " but I asked you to explain why men and women are not on a more equal footing, and in answering my question 3^ou confine your argument to the practice of smoking which I, for one, have never had the slightest wish to indulge in." " Well I told 3^ou at the start," answered the General, " that my explanation would not be satisfactory to you. If you were a real philosopher you would accept the wisdom of many generations without trying to learn more. What women complain of most, is that the^^ are not permitted to do certain things, without being censured by society, which men can do with impunity. Now as most of the things complained of come under the category of vice — or some- thing approaching it — it strikes me, that women, instead of wishing to indulge in some things that men do, are a great deal better off without them. Instead of trying to imitate our bad ways, they should shun them altogether and thus set us a good example." " That is true enough, general," answered Lady Con- stance, " but you know that ' to err is human,' and that ap- plies equally to both sexes. Do you think a woman should be punished or censured for something she does, which would be entirely overlooked in a man? It seems to me that justice at least demands that both should be treated alike. Yet we all know that the reverse is often the case. Do you think that is fair or equitable ? " " Not at all. Not at all," slowly repeated the general, " but because men have vices that is no reason wh}^ women should also have them, and that after all is the question you originally put to me. If it were not for the softening influence of woman, and her innate goodness and purity 36 FORTUNA. which are constantly before us as a guide, we men would all go to the dogs in short order. So, j'^ou see, women have a noble mission in life, which they should keep before them at all times and in that way they are not likely to do any- thing wrong." " I am willing to acknowledge, General, that you have made the most of the subject from your standpoint, but I still remain unconvinced. Mr. Tremaine 3'ou don't look like a biased person ; won't you give us 3^our opinion ? " Thus appealed to that gentleman laughingly said : " I am always glad to take up the cudgels in behalf of your downtrodden sex, Lady Constance. General Montague has given you a strong argument, but having enlisted in your cause I must find means to combat it." Then straightening up, as though he enjoj'ed the task, he com- menced as follows : *' Smoking is only one of many things men are permitted to do, which the other sex are debarred from. I believe that the Lord, in creating man and woman did not intend that one should enjoy greater privi- leges than the other ; nor that it was His idea that they should inhabit this earth on unequal terms. I have read the Scriptures through from beginning to end many times, and there is nothing in them which conveys any such idea. How it is that the male portion of the genus homo has taken it upon himself to declare that he can do certain things which woman must refrain from, I cannot imagine. It is cer- tainly a travesty of justice that such a state of affairs should exist in this enlightened age, and I look for the time when such favoritism will be a thing of the past. It is unworthy of a great people and is a blot on the escutch- eon of all civilized nations. The name — womon — stands as an emblem of all that is good and pure, and if you now and then find one who has forsaken the beaten track of right- eousness, you can make up your mind that nhe has been tempted through the instrumentulit}' of man." Trcmaine's remarks were delivered in an earnest manner FORTUNA. 37 befitting the occasion, and when he had concluded, won decided approval from the members of the sex whose cause he was championing. " You say, Tremaine," broke in General Montague, *' that you have read the Scriptures through from beginning to end and assert that they contain nothing which could be con- strued as meaning that man and woman were not born equal. I would like to ask you if you found anything which says man shall not dominate? Being usually the stronger force, both physically and mentally, and therefore a -naturally constituted leader, it would seem strange if he were to dwarf those superior qualities with which he has been endowed, and allow himself to be led by an inferior force. Since the beginning of the world man has been the recognized leader, and with such a record back of him I am inclined to think he will continue so to the end. One meets plenty of brilliant women, of course, who intellec- tually, compare favorably with some of our brainiest men, but in the aggregate they constitute only a small mi- nority." " You only say that for the sake of argument, general ; we know you don't believe it," interposed Mrs. Montgom- ery. " I assure you, madam," the General replied, " I am very much in earnest. However, we will hear what some of the younger generation have to say. What is your idea of it, Arthur?" All eyes being turned to Caldwell, he had no alternative but to also express his opinion. " It appears to me," he thoughtfully began, " that both sides of the case have been admirably handled. Lady Constance from her standpoint has shown that the world- at-large — although not exactly discriminating against the female sex, is apt to condone — h'm — let us say social errors, when committed by a man, which it is not willing to overlook if the offender be a woman. This, on the face 38 FOETUNA. of it looks like injustice — in fact it can be called by no other name — but is there not a reason for such discrimina- tion ? Tremaine has argued that woman is innately more pure than man, and I am inclined to think that he is right. Taking this for granted, is it not possible that herein lies the solution or answer to the question which Lady Con- stance has asked, and from which this almost endless dis- cussion arose. We have placed woman on such a high moral plane, several degrees above man, it is natural that a downward step on her part attracts more attention, and consequently more censure from the outside world than it does when the transgressor is a man. Besides the sanctity of our homes requires that woman should be kept as pure as possible, as the young child in its innocence and purity is left almost entirely under her care, and its future is made or marred by her teachings. For that reason we are more exacting where woman is concerned, and consequently expect more of her. General Montague has shown quite clearly that a woman is left untrammeled in her wish to imitate man when her object is a worthy one, and it is only when she stoops to something lowering, that she is pulled up with a sharp turn. I admit it seems unjust that a woman should be censured for some indiscretion she has committed, while a man for a similar oflence is allowed to go unchallenged, but in my opinion, it is as I have before stated, because we wish to keep her on a higher plane, and in that she has no just ground for complaint.'' At the conclusion of Caldwell's remarks, which were rather serious for him. Lady Constance's face, as well as the others, expressed approval, but as if unwilling to give up so easily the former shook her head despairingly, saj'ing : " You give very good reasons why the female sex should walk a straight line, but like General Montague, you have failed to show why your sex should be granted inimu- nity." " You are like all women, Constance," her brother re- FORTUNA. 39 plied. " While convinced against your will, you hold the same opinion still. I am afraid this much mooted ques- tion cannot be settled b3' us." That Lord Grandwell's idea was also shared in by the others present, was self-evident from their silence. The argument, debate, or whatever it may be called, helped to pass the first evening on shipboard very pleasantly, and what was still more important, it had the effect of putting those engaged in it on a friendly footing with each other. Presentl}^ General Montague complained of stifl^ness in his joints from sitting so long in the open air, and asked Lady Constance if she felt like making a few turns around the deck. " With pleasure," she replied, " providing the motion of the boat will permit of it without jostling every one we meet." ThejT" thereupon commenced one of those promenades up and down the deck, which seafarers so much delight in and which is so essential on board ship, as it is about the only exercise a passenger can take. Miss Montague accepted Tremaine's invitation for a similar stroll, and the remaining gentlemen concluded to follow their example — Mrs. Mont- gomery preferring to go indoors. Lad}' Constance's remark about jostling into people had some foundation in fact as the sea had become quite rough, and the boat was pitching not a little, although not to such an extent as to make walking wholly undesirable. " Do 3'ou know, Mr. Tremaine," Miss Montague was say- ing, " I have enjoyed the evening so much. I only hope that our little coterie will remain well during the whole voy- age. Ship life is such a bore unless you have some congen- ial spirits around with whom you are on good terms. But I had almost forgotten that you and I were strangers to each other onl}^ a few hours ago. It is really astonishing, the rapidity with which one gets to know another on a ves- sel. I often marvel at it, but suppose it is due to the un- 40 FORTUNA. conventionality of ship life. I like your Mr. Caldwell very much. lie has such pleasant manners and seems such a clever man. I suppose you and he are great friends ? In days gone by I have heard papa speak of a Mr. Caldwell, in fact a gentleman of that name used to call frequently at our house, but he was much older than your friend. Perhaps he was a relative of this Mr. Caldwell. Do you think BO?" " He was doubtless Arthur's father," Tremaine replied. " I know he was connected in some large business transac- tion with your father, and presume that he was the person you have reference to. I am glad you like Arthur. He is one of the finest fellows living, and the most loyal friend man was ever blessed with. Everj^body on the Stock Ex- change likes him — in fact he is a universal favorite with all "who know him, and that includes a large portion of both sexes. He and I have known each other a long while, having first become acquainted at school, and the friendship struck up there has ripened and blossomed with each passing year until we are now almost like brothers." " You are both to be envied," said Miss Montague. " I sometimes think girls do not form such close and disinter- ested friendships as you find among men. Still I have been abroad so long, isolated from my own people, I have no doubt that is a mere fancy which will soon be dispelled after I have been home a short time." " Most men — and women too " — Fred said, laughingly — " prefer to form a friendship with one of the opposite sex, and I don't know but what that is the most natural thin": after all, but it would seem that Arthur and I have not heretofore found our alhnities." With a never llagging conversation the}' paced up and down, now and then exchanging a word with General Mon- tague and Lad>^ Constance as they passed them, and occa- sionall}' witli Ijord Crandwell or his two companions. It was evident that they enjoyed the promenade thoroughly, FORTUNA. 41 from the fact that they kept it up for some time after the other passengers had gone indoors. The increased pitch of the boat, however, was beginning to make walking a trifle laborious, and as Miss Montague observed that her uncle and Lady Constance, as well as the others, had disappeared, she thought it advisable to go in. After helping her down the companion-way Tremaine went to the smoking room in search of Caldwell and found him evidently communing with himself, for he said — upon the former's entrance — " I was beginning to think that you were going to allow that young lady to freeze herself to death. The General is commencing to feel a bit squeamish — and has retired to his stateroom," — then addmg, mischiev- ously, — " he left word with Lord Grandwell and myself to keep an eye on you. My co-watcher got tired of waiting and left me on guard." " Sorry to keep you up, Arthur. I have had a delightful walk and am now ready to turn in. Good-night. I hope our newly-made friends will be able to put in an appearance to-morrow. They are charming people." " They are indeed," his friend answered ; and with an idea of further teasing him, he continued, " remember you have got to get up early if you want to be first in the race. The earl is formidable." " I am not inclined to enter the race," Tremaine good- naturedly rejoined, " so don't let either your wish or your thoughts have unlimited play. Good-night, again. I hope you will sleep well." " Thanks Fred, but remember Shakspeare's lines: ** 'She is a woman, therefore may be woo'd ; She is a woman, therefore may be won.' " Having had the last word Caldwell disappeared with a laugh. CHAPTER YI. Mr. Tremaine's parting injunction to his friend the previous niglit, had evidently been uttered in earnest, for he was one of those men in whom braggadocio, or anything approacliing it, was utterly lacking. He was perhaps over- modest in this respect, but it jarred on his nature to hear any one even joke on matters of that kind. However this feeling did not prevent his thoughts on arising the follow- ing morning, from returning to Miss Montague, and his pleasant stroll with her. Neither did it slacken his move- ments, when he found upon looking at his watch, that only twenty minutes intervened before the breakfast hour, for he was anxious to be punctual to the minute, inasmuch as Miss Montague had asserted that she was alwa3's on time. His morning plunge had to be omitted, but otherwise he was able to complete his toilet, and just as the twenty min- utes expired, he emerged from his room, and had the satis- faction of entering the salon almost simultaneously with Miss Montague, and to say good-morning to her as she took her seat, and also to the Grandwells and M. Remiere, who were already in their places. General Montague and Arthur, however, had not put in an appearance, and notic- ing this, Fred expressed a hope that the General was not ill. "I liaven't heard from him this morning," Miss Mon- tague replied. "After leaving you last evening, I learned from Lady Constance that he was not feeling very well, and I am afraid he is already on the sick list. My poor uncle never feels at honu; on the sea, although he enjoys perfect health on land, something I can't quite under- stand." " It is one of those unaccountable freaks of nature, Miss Montague," Fred answered, " for which there seems to be 43 FORTUNA. 43 no good reason. The man who discovers a cure or pre- ventative for seasickness will make an independent for- tune, provided he can control the secret, and dole it out in small parcels to the public. If I were a physician I would devote the remainder of my days to study, trying to dis- cover some compound which would absolutely prevent nau- sea at sea. Such knowledge would be of incalculable benefit to mankind, and my name would be handed down to pos- terity as the greatest ph3^sician of the age. But it is time my friend Caldwell put in an appearance. If you will ex- cuse me for a moment, I will run down to his stateroom and see what is wrong with him, and also make inquiry at your uncle's stateroom." Upon entering Caldwell's room, he discovered that gen- tleman still in his berth, apparently oblivious to all mortal or immortal sounds. Upon being wakened and informed of the time of day, Arthur said he must have neglected to wind his watch — an observation under the circumstances which could only come from a man half asleep — as he had not even looked at his horologue since the previous night, and besides, as matter-of-fact, it had been wound up as usual. Fred next directed his steps toward General Mon- tague's room. He found the General propped up by pil- lows, but evidently not much the worse for wear, as he was eating the first meal in the day with seeming relish. An- swering Fred's solicitous inquiry regarding his state of health, the General informed him that he was not exactly sick, but the principal organ of his digestion compelled him to remain quiet for a little while, until he got used to the motion of the boat. He thanked Fred for his call, and asked him to say to his neice that he was all right, and ex- pected to be up and out within an hour or so. Returning to the salon, Fred informed Miss Montague of her uncle's condition, and she expressed her thanks for the trouble he had taken, and seemed to be quite grateful for the informa- tion he brought. 44 FOETUNA. Breakfast is not the most enliveuiiig meal on shipboard, and passengers are glad, as a rule, to finish it, and go up on deck where the invigorating sea air seems to infuse new life into them. This feeling is probablj' due to the fact that they have been shut up in their staterooms for a period of eight or ten hours, and the stuffy air they have inhaled over night, naturally causes a sense of oppression. The rooms on the deck are a marked improvement in this respect, as the port holes can almost always be kept open, and thus good ventilation is insured. Unfortunately for our friends, those desirable rooms had all been taken when they put in their applications, — in fact they are gen- eral I3' engaged six months to a year in advance — conse- quently they had to content themselves with accommoda- tions between decks. Without wasting time in superfluous talk, the ladies and gentlemen in whom we are interested, finished a substantial meal, and hurried up on deck to bask in the rays of the sun, and otherwise make themselves comfortable. An accommodating steward, after consider- able searching, succeeded in locating their chairs, and placed them in a row. Fred's chair, by chance (perhaps design would be a more appropriate word, as he superintended the job) was placed next to Miss Montague's. Instead, how- ever, of immediately sitting down by her side, he excused him. self, remembering that he had an important letter to write, which he wished to have mailed at Queenstown, for Lon- don. Lord Grand well, under the circumstances, natural!}'' took the seat next to Miss Montague, inwardly thanking the inventor of letter writing, which compelled the good- looking American to absent himself, even for a short time. He was not easily thwarted in anything he undertook to do, and he had set his heart on making the American beauty and heiress Lady Grandwell, although in justice to him, it should be stated that he was inspired solely by . affection for her, and the fact tliat she was the richest woman in the world, did not inlluencc him in the least, al- FORTUNA. 45 though he fully appreciated the benefits to be derived from great wealth, such as hers. His position in the world was already a good one, but with her fortune added to his he and his wife would be the envy of all England. He had had plenty of opportunities to marry, and to marry well, but the sentimental part of his nature had never been touched deeply enough to call forth a proposal of marriage, until he met Miss Montague. It was easy enough to fall in love with her, she was so beautiful in face and form, and withal so charming, her mere presence inspired it, and all who came in contact with her felt the intoxication to a greater or less degree, without trying to resist the spell, " Her overpowering presence made you feel, It would not be idolatry to kneel." Frederick Tremaine was not a man calculated to fall in love with any woman at sight, in fact we doubt if he had ever had a genuine affaire d^amour ; the reader, however, has heard his exclamations concerning Miss Montague's beauty in the opening chapter of this book, which would seem to indicate, coming from a man of his somewhat phlegmatic temperament, that if he had not already succumbed to the influence of love, he had, on the surface at least, become partially intoxicated, and although he did not realize it, and would have scoffed at the idea if any one had presented it to him — he was in a fair way to become wholly so, by the time they landed in New York, for — " She was like A dream of poetry, that may not be Written or told — more than beautiful." Lord Grand well's attentions to the young ladies he had been brought in contact with, had always been received with so much encouragement by them, and their match- making mothers, he could not help but believe that he was a desirable parti^ and in this he was not mistaken, for 46 FORTUNA. he was in every respect, but he realized, as Tremaine's fine figure disappeared in the companion-way, that the much coveted young lady by his side was not to be had simply for the asking, and that there were others in the field be- side himself. Some such thoughts as these were flitting through his mind, which in turn were reflected in his phys- iognomy, for his face, now bore a troubled and perplexed look, which ordinarily was absent. Noticing his pre-occu- pation for a minute or two without disturbing his thoughts, Miss Montague finally said : " You appear to be distrait this morning, Lord Grand- well. I hope you are not already regretting your trip to our shores. If you are, I shall, as a patriotic citizen, con- sider it uncomplimentary to America." Aroused from his reveries b}' the voice he loved to hear, Lord Grandwell's countenance assumed its wonted expres- sion, and he laughingly replied : " I have no room for such thoughts as those. Miss Mon- tague. If your home were in Kamtschatka, where I am told the climate is not altogether desirable, I should still be content to follow you." Although this was uttered in a semi-jocose tone, it was quite plain, from the accompanying look he bestowed on his listener, that there was much more than a grain of truth in his words, and that she realized it, was evident by the slightly increased warmth she felt steal into her cheeks, although no noticeable change in them took place to denote to an outsider that she had taken in their full meaning — for the reason perhaps that dclicatel}- tinted roses habitually ornamented her cheeks, which were raved about by men, and made her the envy of all women. The reader must excuse these lapses into time and re- member that the young lady who figures so prominently in this tale was, without doubt, the most beautiful woman in all Christendom — at least her numerous admirers thought FORTUNA. 47 SO, and we must take it for granted that tbey ■were com- petent and impartial judges. Miss Montague was now saying to Lord Grandwell — " If your absent loolvs were not due to tiioughts of Amer- ica, it is quite certain tliat they were concentrated on somebody or something in Europe, and as we are leaving the old world behind us, you should endeavor to leave your disagreeable reflections behind also. You must recollect that we are going to the land of milk and honey, where sorrow and trouble never dwell, and where the streets are paved with gold and silver — that at least is the popular im- pression among emigrants when they leave their old homes." " No one can ask for more than that," Lord Grandwell said, with a smile. " If I can find a country where sorrow and trouble never dwell, I shall be willing to foreswear my allegiance to the queen, and take up my abode in that haven of rest. I am afraid, however, such visions are of the Utopian order and few ever realize them. You have heard the old saj'ing that *" Distant hills are green, But when you get there, There is nothing to be seen.' *' I dare say a great many poor, deluded creatures set out for America, expecting to find the lost Paradise. In such cases I should imagine that my quotation or something like it must strike them forcibly. Building air-castles is a pleasant occupation while it lasts, but the realization afterward that their foundation consisted of nothing more substantial than rose colored imagination must be bitterer than wormwood to swallow, and is apt to sour one's con- stitution for a considerable time." " One would imagine by your observations, Lord Grand- well, that sometime or other you had been engaged in some such pastime," Miss Montague laughingly rejoined, " and that wormwood was sweeter than honey in comparison 48 FORTUNA. T\ilh what 3'ou really swallowed. Tell me all about it, won't you ? Perhaps I can prescribe an antidote." " Not now," the earl replied. " My castles have not reached the proper altitude yet to admit of their durability being tested. I am afraid shatteration — is that an allowable word ? — would follow if I obeyed your behest, and I am not willing to run that risk until I have reason to believe for- tune favors me. I can only hope that my architectural plans will meet with your approbation when they are laid before you." Miss Montague must perforce have been accused of obtuseness, if the earl's meaning had not been perfectly plain to her. That she understood was quite apparent, for she slowly said, '' Erecting castles in the air. Lord Grand- well, is after all rather unprofitable for the builder, unless they have something substantial to rest on. I confess I have several times tried it, but somehow the structures have generally been so frail, ' shatteration,' as you call it, soon follows. But here come my uncle and Mr. Caldwell — the in- valids of our party. Good-morning, Uncle Charles. How do you do, Mr. Caldwell. I congratulate you both on your es- cape from thraldom. I rather expected my uncle would sur- render — but you, Mr. Caldwell — after your protestations last evening — surprise me. Your solemn remarks of last evening were evidently too much for you. Take my advice, don't try to digest anything so weighty again. They really gave me the nightmare. I saw nothing in my dreams but fantastic shapes of you, in all kinds of powdered gowns and ermine wigs, but each time you disappeared and noth- ing remained but smoke." " I rejoice to think, Miss Montague," Arthur replied, " that I occupied a portion of your dreams, even though I did not appear in my customary shape or dress. 1 hope however that there will be no disapi)earancc in the future — keep me in your thoughts constantly and 1 shall be happy for tlie balance of my life." FORTUNA. 49 All present laughed, especially the General, who said, " How comes it, Caldwell, that you were on the sick list ? I thouglit you were water-proof and copper-lined which rendered you impervious to anything like seasickness — which Mr. Tremaine elegantly styles * nausea at sea.' " " I am so far. General. My sickness is a phantasm pro- duced from your niece's dream-troubled brain. Rarebits late at night are bad for digestion." Presently the captain passed and informed them that they would soon be at Queenstown, and if they had never been in Ireland they had better go ashore. As Lord Grand- well and his sister were the only ones present who had visited the " Emerald Isle," the captain's suggestion was considered a good one, and the whole party an hour later, boarded the tender which came along side, and were shortl}^ afterward landed in the country which wishes to dispense with the protecting arm of England, a result which Gladstone tried so hard to accomplish. Who has landed on the Queenstown wharf who has not been Importuned to select a genuine black-thorn stick from a great variety of all sizes and shapes offered for sale ? Or has not been surrounded by a score or more of venders anxious to sell j^ou a beautiful Tam O'Shanter of a verdant hue ? This familiar scene seldom varies, and on this occa- sion was still the same ; but our friends had no idea of pur- chasing an3^thing they could carry away with them, except that which could conveniently be stowed away in their mem- ory. At the suggestion of Mr. Caldwell, they engaged a couple of jaunting-cars to take them for an hour's ride, by which time the}^ had to be back to board the tender return- ing to the ship. Miss Montague and Mrs. Montgomery, with Lord Grandwell and Mr. Caldwell, occupied one car, while the other members of their party filled another. The ride was made without any noteworthy incident transpiring, although the novelty of the thing and the fact that each was in a mood to enjoy anything, made the trip a pleasant one. 60 FOIITUNA. The usual pack of ragged urchins accompanied the carts during the greater part of the vo^-age, and to the tune of English sixpences, pennies and other odd bits which our friends good-naturedly dropped on the road side, they were treated to a great variety of gymnastics which did the little chaps credit, and which, considering their diminutive size, would have ensured any one of them a first-class engage- ment with Barnum's circus. Poor little tots, they worked bard and fully earned the pieces of money that were thrown to them, although, as Caldwell remarked, "their early gym- nastic training would be of incalculable benefit to them when they emigrated to America and joined the metropoli- tan police force, where so many of their national relatives are to be found." Perhaps the hardiness of the New York police is due to some such early training, for certainly no finer body of men, taken as a whole, can be found anywhere — not even the " Queen's Own," of which the average Eng- lishman is so proud. The most lasting thing which clings to one's memory in connection with these Irish rides, es- pecially when the horse can be induced to assume a gait more rapid than a dog trot, is the shaking up one constantly receives, and which calls forcibly to one's mind the fact that one is really on a jolting car. However, as General Montague remarked, " it was a direct aid to nature in di- gesting something that was indigestible," — whatever that meant. Each member of the party seemed to have thor- oughly enjoyed tlie little trip ; and the incidents connected therewith — although of a simple nature — allbrded consider- able food for merriment, even after they liad returned to the sliip. llow little is required to malce pleasure when a per- son is in the mood for it ; and alas 1 how much, — when a per- son is not. CHAPTER YII. " Do you really think, Grandwell, that Ireland is better off without home rule and that Gladstone's efforts will prove futile ? " The question came from M. Remiere, who with the balance of our party were lingering over their dinner on the second day's voyage. The trip to Queenstown had brought the subject of Ireland and her woes to the surface, and the ex- isting relations between England and Ireland — ruler and ruled — had been vigorously discussed during the meal. M. Remiere and the Americans, being citizens of Republics, sided with the ** under dog " as Caldwell facetiously styled Ireland, while the earl — as a peer of the Realm — and his sister, naturally contended that their government's policy was proper and just. In reply to M. Remiere's question, Lord Grandwell said, " I most assuredly do, and furthermore I believe that Mr. Gladstone made the biggest mistake of his life in advocating home rule for Ireland. Instead of his long and honorable carreer ending in a blaze of glory, his biographers will have to chronicle t'he fact that the chief policy of his closing administration failed of accomplishment." " Granting what you say is true, Grandwell, don't you think the poor people of Ireland should be permitted to gov- ern themselves if they want to? " persisted M. Remiere. " If the sentiment in that country for home government were unanimous,'' the earl replied, " I don't think there would be an}' great objection ; but j^ou must understand that the best educated, and therefore the most enlightened people — those in the north of Ireland — are opposed to home rule." " But why ? " asked Miss Montague. " One would natur- 61 62 FORTUNA. ally suppose thnt the idea of self-government would stir up a patriotic feeling in the bosora of ever3'body concerned." *' Quite right," the earl answered ; " and if that feeling alone influenced them, the sentiment would be unanimous for home rule. But, unfortunatel}^ there are a great many people in Ireland, constituting a majority who are not able to rule themselves, let alone make laws to govern others ; their idea of administering public affairs would be some- thing on the order of using their shillelahs freely at all times. I do not say this with any feeling of animosity to- ward any class of citizens in Ireland, as I entertain nothing but the kindliest feeling for them all, and sympathy' for their unfortunate condition ; and, not only that, but I al- ways use m}^ position as a member of the House of Lords to do everything I can to better their condition. If the people in Ireland would really be satisfied with some kind of local arrangement, to govern, in a measure, their home aflairs, and at the same time permit the English Parliament to supervise them, they would doubtless have their wish gratified ; but the great trouble is they are restless under any kind of restraint, and after receiving the first conces- sion, they would very soon be clamoring for full independ- ence, and that, of course, is out of the question. England is to-day the greatest nation on the face of the earth, owing to her large possessions, and she is not knowinglj' going to do anything which would be likely to lessen her importance in the remotest degree, such as the withdrawal of one of the moml)orR composing her united kingdom. Possession of Ireland to l)e sure is not absolutel}' necessary for the welfare of England, but cut the string in one place and it might l^c necessar}' to do it another. The people in Scot- land and Wales are loyal to the heart's core, and perfectly contented witli the existing state of affairs, but it is not improbal)le that they might, in time, become dissatisfied, if the}' were allowed less latitude or less freedom of action than their Irish brethren." FOETUNA. 63 " Well, there is doubtless a great deal in what you say," General Montague remarked, " but Ireland is not the only country under British rule that is dissatisfied with present arrangements. I know there is a growing feeling of discon- tent in Canada which, sooner or later, will end in open rup- ture unless your government's policy of thrusting a British representative on them every five years, to fill the position of governor-general, ceases. They object to pajung out $50,- 000 salary, and as much more for expenses, to what some of them term a foreigner, and besides they would rather do their own selecting from among their own people." " is that really the case ? " Lord Grandwell asked. " I haven't heard any complaints of that nature from the Ca- nadians who visit our side. If such a feeling exists, why don't they make a protest, or sign a petition to the head government ? If such a request were properly made by a suflficient number of citizens, I am quite sure it would be readily acceded to." " I don't believe that makes so much diflference," Tre- maine remarked. " As a matter of fact there are quite a number of the best people in Canada (in the minority per- haps) who are delighted to have a representative of the English nobility among them. They would prefer, of course, some one of royal caste, and for my part, I have often wondered why the governor-generalships of the im- portant English colonies have not been filled by appoint- ments from the sovereign family, which receives about $3,150,000 per annum from the public crib, and for which little or no value is given in return, outside of the services rendered by the queen." " They doubtless would fill the positions very satisfac- torily," Lord Grandwell drily replied, *' but the English people would rather keep them at home, and are perfectly willing to allow the sum you named for their maintenance, which " — laughing — " is ver}^ moderate indeed. Why, the Prince of Wales' family has only an annual allowance of 54 FORTUNA. £8G,000. That certainly is a very trifling sum to keep up appearances in a manner befitting the future king of Great Britain." " The president of the United States only receives a sal- ary of ^50,000 per annum," Caldwell quietly observed. " Yes, I know," answered the earl. '' His dignified posi- tion — the highest in the land — is put on a parity with a simple bank or railroad president, and when he retires from office he is obliged to resume his former calling, or go into the business of raising chickens, as one of 3'our former presidents is reported to have done. We consider that our royal family is paid very moderately indeed. Why the Emperor of Austro-IIungary receives an annuity of £775,- 000 — which is £145,000 more than the queen's entire family gets, and even the Italian family receives as much as the latter — notwithstanding the impoverished condition of Italy ; -while the King of Prussia is allowed £775,000, besides the income from a vast amount of property out of which ex- penditures for court and ro3'al family are paid. But if you think your presidents are ■well paid you should ascertain what the Czar of Russia's pittance amounts to annuall}'. It is stated that he has an income of 24,000,000 roubles — the equivalent of which in English money would be some- thing like £2,400,000 — wiiich is derived from estates of fully one million square miles, consisting of cultivated lands and forests, besides very valuable gold, silver, and other mines in Siberia. The czar, being absolute monarch of all he surveys, looks upon everything of that kind as i)rivate property, and accordingly pockets the income derived therefrom, while his subjects half the time are on the verge of starvation. So you see, Mr. Caldwell, your president is a very cheap man, especially as he is obliged to perform more hard work than all the (pieens and emperors put to- gether." "It is wonderful with what fortitude the people in the old world bear such heavy burdens," Arthur responded, FOKTUNA. 65 " I prophesy that before a great many years elapse, nearly all the European nations will be under the same form of government as the United States. Some day Italy and Spain will both have to be reorganized, because their treas- uries are almost depleted and their credit is becoming ex- hausted ; while Germany's present emperor seems to be doing all he can to goad his people into open rebellion by his dogmatic utterances, and I am inclined to think he will succeed, if he lives long enough. Great Britain will be one of the first to peacefully fall into line, because her people are among the most intelligent " — bowing to Lady Constance — *' on the face of the earth. Canada is already restless, and desirous of throwing off the shackles. I have been told by people in a position to judge, that fully three-fourths of her population are in favor of independence, or annexation to the United States. There seems to be three political par- ties at present in Canada. The Colonial party, which wishes their country to remain as an English colony; the Annexation party, which favors a union with the United States, and the Independents, who wish to go it alone ; and in the latter class may be found most of the Liberals. The Canadian people are peaceful and intelligent, and will, therefore, endeavor to secure their independence from Eng- land by constitutional rather than revolutionary means, and I am inclined to think England will not stand in the way of separation, when she becomes convinced that a large majority wish it. Her experience with the United States is still fresh enough in her memory to prevent such a sui- cidal policy as Lord North pursued. Don't you agree with me. Lord Grandwell ? " "I, of course, cannot state positively what my country would do in such an emergency," replied the earl, " but I do not think Canada will have to fight for her independence, unless " — laughing — " she gets into a squabble sometime with the States. Disraeli, Russell, Salisbury and Gladstone are p,ll on record as favoring dissolution whenever Canada de- 56 FORTUNA. mands it, and I am willing to vote that way at the proper time. As far as I am concerned, it will make no dillerence to me whether Canada desires to sever her present ties for the purpose of establishing an independent government, or with the idea of becoming annexed to the United States, although I feel convinced that Parliament would not favor the latter plan. If our present relations with Canada are to be severed I believe that a state of absolute independence would be more beneficial to her than annexation, as she would not be hampered by any laws of the United States, and would therefore be in a position to offer an}' induce- ment she saw fit to newcomers. The Dominion ought to be an extremely prosperous country, blessed as it is with all the natural sources of wealth that have made the United States 80 rich and prosperous. I must confess it is a matter of wonder to me when I look at the growth of the latter country during the last seventy years, and compare it with Canada's. In one case the progress made is simply mar- velous, while in the other the lack of growth amounts al- most to a standstill — if you place the statistics of the two countries side b}^ side. Canada is the older country of the two, b}^ almost one hundred years, with an area as large as the United States and possessing nearly all the same j)h vsical advantages that the latter does. Compare the population of these two countries: one has 72,000,000 people while the other has less than 5,000,000, or about the same as Ireland or Scotland: yet the North American countries are located side by side, with nothing l)ut a latitudinal line dividing them, and both api)arently oU'ering ecjual advantages to settlers. It is one of tiie mysteries, and can only be ac- counted for by the fact that Canada is a few degrees farther north. That at least is the interpretation I would put t>n it." " Permit me to diller with you, (.irandwell," M. rvemiore said. " The study you have made of the internal workings of each country should have enabled you to form a more FORTUNA. 57 correct opinion than the one you have given. The United States has forged ahead so rapidl}' of, not only Canada, but every other country as well, for the reason that her shores offer an asylum to the poor, friendless creatures who are driven from their native hearths by laws so oppressive that the}^ are really a burden, and in the end become unbearable. It is quite natural, therefore, that these poor souls should turn their eyes in the direction of the great American Re- public, where a hearty welcome is extended to all deserving persons, of whatsoever creed or nationality. Canada offers every encouragement to immigrants to settle on her broad domain, and doubtless could make them just as prosperous and happy as the States, but the fact that she is a colony of Great Britain is of itself sufficient to deter would-be settlers from invading her lands. They naturally wish to become citizens of a free and independent country, where the taxes they pay will not be used in keeping up large standing armies, ready for bloody wars — such as is done in their native countries, and where they are likely to be en- grafted into service at any moment. It is this feeling which militates against Canada, and as long as she remains under British rule, her populative and industrial growth will be retarded — in fact, I may say, there will be no growth, except in the way of natural increase in the fami- lies already located there." " You may be right," Lord Grandwell answered. " It is my intention to spend a few weeks in Canada, with a view of studying the question more closely. Parliament may be called upon soon to act in the matter, and I should like to be better posted than I am at present. General, sup- posing a majority of the Canadian people should prefer an- nexation to the United States to independence, do you think 3^our countrj^men would be eager for the alliance, and willing to assume the Dominion's outstanding obliga- tions ? " " My country, I believe, would be willing to annex Can- 68 FORTUNA. ada," the GKineral answered, " if her people were to make a formal request to us, and England interposed no objection. But there is no anxiety on our part to bring about the al- liance. You must understand that we have sufficient terri- tory to take care of ten times our present population and then not be overcrowded. In fifty years from now when our census shows a population of 175,000,000 people — as it most likely will by that time — we shall think about adding to our possessions. In the meantime, we are not showing any undue haste. The public debt of Canada figures for less than $300,000,000, consequently the United States would have no hesitation in assuming or guaranteeing it. Speaking in the Dominion's own interest, I should say that annexation would be the very best thing that could happen. It would not only give her a much larger popu- lation — owing to the dividing line between the two coun- tries being obliterated — but it would build her up com- mercially. Our capitalists have built 180,000 miles of rail- roads in the United States, and would doubtless extend their operations into Canada, if she were fiying the stars and stripes. Our large trunk lines would, instead of using the Grand Trunk or Canadian Pacific tracks, build their own branches to Montreal, Quebec, Toronto,Hamilton, Ottawa, and other principal places, which, of course, would have a ten- dency to make trade more active throughout tlie Dominion, especially as the custom duties would be entirely' done away with. Nearly all of Canada's export trade is with the United States and Great Britain — about one-third with the former and two-thirds with tlie latter. Now, with a suspension t)f duties, you can readily see what an advantage the Canadian merchants would gain. They produce yearly $12,000,000 worth of cheese, nearly all of which has to be sold abroad — that is to say, 3,000 miles awa}' — whereas a great part of it could })e disposed of in New York state alone, and at much better llguroH, l)ut for tlie custom duty now in force. 'I'lie Bamc thing api)lie8 to hay, barley and other products from FORTUNA. 69 Canadian soil which they can now sell to greater advantage in Europe, owing to the prohibitory taxes imposed in the United States. So you see, earl, Canada would be much benefited if she were allied to the United States." " I must admit. General, from your showing, that such would appear to be the case. But would it not be the re- verse with your country ? Knock off j^our duties and j'ou put Canadian products on the same footing with your own." " It would appear so from the first glance," General Montague replied. " You must take into consideration, however, that our exports to Canada are quite large — fully $20,000,000 in excess of our imports — so that closer trade relations would in all probability be of equal benefit to us, by increasing our shipments across the border. You may rest assured the United States Government would be care- ful to see that the Dominion States traded with the other states in the Union to the fullest possible extent. There would be no trouble on that score. In other ways the al- liance would be of greater advantage to the Canadas. Monej'" would be sent from our side to start new industrial enterprises, and immigration would flow in streams that way. Instead of the United States drawing one hundred thousand settlers annuall}'^ from Canada, she would entice double that number from us, besides droves from the old world. You must realize that the marvelous growth of our country is due in a large measure to the number of foreign- ers who settle on our shores — averaging, I believe, fully five hundred thousand persons each year. That is what Canada needs badly, but until she breaks loose from Eng- land her wishes in this respect are not likely to be gratified. So take my advice, Lady Constance, and do a little mission- ary work for Canada amongst your friends when you return home. Dismemberment means practically nothing to Eng- land, but very much to her colony." " I will see what can be done when I return home," she laughingly answered. " I am afraid^ however, that the first 60 FORTUNA. move will have to cume from the Canadians themselves. Thus far they have done nothing in that direction, other than to publish newspaper articles now and then, which, un- ha[)pily for the cause, are not seen by the controlling spirits at home ; or if they are, little interest is attached to them, owing to the general belief in England that Canada is quite contented to remain as she is. But don't you think we have talked politics long enough ? The tables have long since been cleared off, and we need fresh air. Besides, I know these men are longing for their cigars. The conver- sation must have been highly interesting, otherwise they would not have foregone that pleasure so long." '' I agree with you, Lady Constance, in all things," Ar- thur remarked. " I am inclined to think, however, that a small i)ortion of out-of-doors will satisfy your wants this evening, as it is quite chilly on deck, and you will have to be a peripatetic if you wish to keep warm. As I have al- ways been one " — he added — " I shall be most happy to take a stroll, if 3'ou will permit me to accompany you." " Thanks, Mr. Caldwell, I shall be glad to have you," Lady Constance replied. Miss Montague accepted a similar invitation from the earl — much to Tremaine's disai)pointment, — as he had been anticii)ating such a pleasure for himself. He was obliged, therefore, to be contented with her uncle's company, and M. Remiere (Mrs. Montgomery being indis})osed) making up his mind that he would have to be more wide-awake in the future, if he wished to forestall the earl. CHAPTER YIII. *' The salon has rather a deserted appearance this morn- ing, Miss Montague. I am afraid last night's blow was too much for the ordinary passenger to stand. Have you heard how it has fared with our friends ? " The speaker was Mr. Tremaine — the onl}'^ one of the party besides Miss Montague — who had put in an appear- ance at tlie breakfast table. There was really a good ex- cuse, however, for their non-attendance, as the seas had cut up pretty rough during the night — in fact there had been what the captain called a regular old-fashioned blow. " Yes, I stopped at Lady Constance's and Mrs. Montgom- ery's rooms," answered Miss Montague, " and although they are not exactly ill, they felt a trifle upset, and preferred to remain in their rooms. My uncle sent me word that he would remain invisible until the ship's motion was more to his liking, and the steward brought word from Lord Grand- well and M. Remiere that they would not breakfast with us this morning, but hoped to show themselves later. It would seem, therefore, as though you and I were the only ones to answer the roll call. To be quite candid with you, it re- quired an exertion on m}^ part to get here, and if I had not made a compact with you and Mr. Caldwell to be on hand each meal, I might have been tempted to do as the others have done. What has become of him ? He surely is not going to play the invalid, after entering into an agreement with us to occupy his place each meal ? " *' No," Tremaine answered, " Arthur is all right, but he always requires a few hours more sleep than others. He will doubtless turn up before long. What are you going to do with yourself all day ? I am afraid it is not over-pleas- ant on deck, although the wind seems to be moderating." 61 62 rORTUNA. " I have several things to do," Miss Montague replied. " I expect to read a chapter or two from ' Ben Ilur,' in which I am greatly interested, talk a little with some agree- able person who will kindly lend me his ear and answer any questions I mtiy put to him, and if this rocking motion subsides sufUciently to permit of it, I expect to take my customary walk on deck, provided I can get some one to accompany me." " In all of which I am at your service," Fred said, " to say nothing of the pleasure it will afford me to attend 3'ou. I would suggest, however, that 3'ou dispense with * Ben Hur ' for to-day. It is a most delightful book, and one ^ which I read with the greatest of pleasure. I am afraid, however, if you get started you will become so interested that you will be loath to lay it aside to indulge in ordinary conversation with me." " Yery well, Mr. Tremaine, I promise not to road until you get tired of talking to me. Will that do ? If the others don't turn up, you may have to look after me during the whole day. In that case you are likely to be overtaxed." " I am not heartless enough," Tremaine replied, "no matter how tempting the prospect seems, to wish our friends a whole day's illness ; but at the same time, I cannot help saying, that if they prefer to remain in their staterooms, I shall not complain on account of being left alone with you, but on the other hand, shall consider m3'self twice blessed." " Very well, I will take you at your word. If you have finished your breakfast let us go on deck and see what the weather prospects are." On reacliing tlie dock they found th:it with every lunge the boat made, large quantities of water were shipped, wet- ting the docks from stcnn to stern, consequently there was no alternative ])ut to remain indoors for the present. Act- ing on Miss Montague's suggestion, they made their wa}-- to the music-room which they found nearly empty — not over half-a-dozen people being in there. FORTUNA. 63 " Judging by the depopulated appearance of this shell," Tremaine remarked, " I should imagine that last night's blow amounted almost to a hurricane, and I am wondering how you and I are able to be up and about while nearly every one else seems to have surrendered without a strug- gle." " It does seem strange, does it not ? " said Miss Montague. " I suppose a determination to be out at all hazards had something to do with it, and I am glad that I made the ef- fort. Before settling down to your all day's task, I would like to have you run down, if you don't mind, to Uncle Charles' stateroom and ascertain if anything can be done for his comfort." Fred, of course, readily acquiesced, and shortly afterward returned with the report that General Montague was rest- ing fairly comfortable, and asked for nothing further than a return of the seas to their normal condition. " I promised him that," Fred laughingly said, " and re- ceived his grateful thanks. He fairly beamed when I informed him how few of the passengers had made their appear- ance — remarking that misery liked company, and that a person should always be satisfied to train with the majority." " Yes, uncle is a good philosopher, and a firm believer in the adage that * what can't be cured must be endured.' If we could all accept the trials and tribulations which beset us in that spirit, how much lighter life's weary burdens would seem." *' I agree with you," Tremaine answered, " but you must recollect that we are not all constituted alike. How is it though, that you speak of life's cares in such a grave tone? I cannot believe that you have much to worry about, but on the other hand should imagine that you managed to grasp the world's best pleasures." " I am like every one else, Mr. Tremaine, in that respect. Sometimes in gathering flowers, you know, we unexpectedly run across a prickly thorn. I remember nearly four years 64 FORTUNA. ago, m}' father crossed the ocean with me for the purpose of placing me in school. It was my wish to finish my educa- tion abroad, and I anticipated so much pleasure in doing it. Yet in a few months' time poor papa was taken away, and even the consolation of being with him during his last hours was denied me, as he died so suddenly, there was no chance for me to reach his bedside." A tear rolled down her cheek as she said this and her last words ended in a sigh, showing plainly the deep attachment she must have felt for her father and the sorrow his death had occasioned. " Your experience was indeed a very sad one," Fred said in a sympathetic voice. '* Pray excuse me for being the innocent cause of recalling your sorrow, which I know must have cut in deeply and which 3'ears alone can efface. We unwittingly drop a remark sometimes, without realizing that it ma}^ awake memories which are better left unrecalled." " You need not reproach j^ourself, Mr. Tremaine, for any- thing you have said. I seldom allow my feelings to get the better of me, but the disagreeable weather and the desolate appearance of the vessel this morning has doubt- less made me a little nervous. The rolling and plunging of the boat all night made sleep next to impossible, and when I am deprived of that, I get up feeling unlike my natural self However, I did not bring you in here to talk about my woes or myself, but," smiling, " relied upon you to intro- duce an enlivening subject for conversation." " Leaving your woes in the background, Miss Montague, the subject otherwise is interesting — more so to me tlian any other we could hit upon. Tell me about 3'our stay in Europe. Did you like it there?" " Very much indeed. The first two 5'earfl were spent in study and the balance in travel and sight-seeiug. Ijady Carleton, the wife of one of uncle Charles' Kngiish partners, took me under her care, and for nearly two years we have been inseparable — spending a portion of our time in one FORTUNA. 65 country, until we got tired of it and then visiting another — and so on until we had linally seen everything we cared to see. Lady Carleton has been so kind to me — if she had been my own mother she could not have done more. You know we have a business house in Paris also ; consequently I was well looked after there by uncle's partners and their wives — in fact wherever I traveled I met some one who seemed to be connected in a business way with us. You will understand, therefore, that everything was done to make my life a happy one and on the whole I was con- tented, although I longed at times to be in my own country." '' Why did you stay away so long ? " Fred asked. " Uncle Charles, who is my guardian, thought I had better see as much of European life as possible before return- ing home, a,nd he was also anxious that I should become proficient in the French, German and Italian languages." "All of which you accomplished, I suppose." " Yes," laughing, " and to please uncle I also learned to speak Spanish." " So that you are a regular walking-school of languages," Fred laughingly said. " Did 3^ou study anything else ? " " Oh, yes, lots of things. My real object, however, in go- ing to Europe, was to have my voice properly trained and to study instrumental music." " There is no need of my asking if you succeeded in that also, as with you it is fait accompli before you have com- menced." " I am afraid, Mr. Tremaine, you flatter me. But relative to music : I succeeded fairly well, at least I have been told so by eminent masters. You shall judge, however, for yourself when you pay me a call at my home in New York." " I am exceedingly obliged for your invitation to call, and hope to avail myself of it when we return. I trust, how- ever, you will not deny me until then the privilige of hear- ing you sing. You know " — laughing — '' music-rooms," 66 fOnTUNA. glancing at the piano, " are rather suggestive places when a prima donna is around." " I hope you will not be disappointed when you hear me," ]\Iiss Montague answered, " which will probably be in New York, as I never sing in public places of this kind." *' Very well, I must be contented to wait until we land on Manhattan Island. Would that it were to-day, I don't mean that," hastily correcting himself. " I shall be glad to hear you sing, but in the meantime — you must forgive me for sa3ing it — I am willing to postpone that delightful event for a week or ten days provided it will prolong our sea trip, and you will permit me to bask in the sunshine of 3'our presence." " That would impl}^ illness to the other passengers, Mr. Tremaine, for ten whole days. As my uncle is one of them, I naturally object on humanitarian grounds " — smiling inischievousl}" — " if upon no other." Evidently wishing to turn the conversation, she said, " I have given 3^ou an account of my life abroad and shown you in part what I have accomplished : now I want to know if you think I am capable of learning the intricacies of finance. You remarked a little while ago that it was /a// nccompli when I commenced a thing. Do 3'ou think it would apply to the stud}- of finance, if I were to take that branch up in earnest? " " I have no doubt you would excel in that line, as in anything else," Fred replied. "Although it is such an ex- tensive su])ject it would naturally require a great deal of study to become in an}' degree proficient. In fact it would take a lifetime to master all the different branches of finance — its scope is such a wide one — and even then you would find something to learn, as witli the evolution of tlie world soine new ])oint is brought to light each day. I take it for granted, however, that you don't wish to go into the subject so deepl}^ as that. Tell me what you wish to know and perhaps I can enlighten or help you." FORTUNA. 67 Hesitating a moment Miss Montague finally said, " I may as well take you into my confidence, although I have never even broached the subject to my uncle " — Pausing for a moment again, as though debating where to begin she con- tinued, *' Perhaps you are aware that I was the only child my father had and that his estate in consequence descended to me. What it consisted of, I am unable to state for the reason that my uncle, up to the present time, has had entire charge of it, although I know, of course, that it is extensive. I have the utmost confidence in Uncle Charles, and shall always be guided more or less by his advice, still I feel that papa would have liked me to become familiar with his property — in fact once in talking over this matter together, he gave me explicit instructions on that point. But beyond that I am naturall}^ interested for my own sake, and I intend taking entire charge of my affairs as soon as I am competent to do so." " Your resolution is to be highly commended, " Fred said, " especially as the undertaking is a formidable one. Young ladies can learn to speak foreign languages fluently and become conversant in a short time with other things equally difficult, but when it comes down to matters of business, where figures play an important part, and good judgment is required, their pretty heads get confused, and they are forced to become dependent on others for help ; all of which would seem to indicate that your sex is fitted for everj'-thing except business." " I cannot agree with 3'ou altogether, Mr. Tremaine. You doubtless base your conclusions on a few unfortunate cases which have been indelibly stamped on your memory, where the persons you have been brought in contact with have shown more or less stupidity, owing, of course, to their lack of familiarity with the business in hand and the de- tails connected with it. If they had received the same business training that a man does, don't you think they would be quite competent to take charge of their own 68 FORTUNA. affairs ? I admit that the average woman displaj^s a woeful amount of ignorance where business is concerned ; but that could easily be remedied if she would devote a portion of her time to the study of it. Now that is what I propose doing, and as I cannot very well- serve an apprenticeship in uncle's office, I must manage to get my schooling in some other way. The question, however, is, what is the best mode of learning, and at what point am I to start ? " As she expounded her ideas, clothed in clear and con- vincing language, and at the same time expressed in face and manner such a determination to succeed, Tremaine thought to himself, " No wonder her father amassed a large fortune, if he was fortified with the same kind of spirit with which his daughter is endowed." Aloud he said, " There is no question, Miss Montague, of your succeeding in anything you undertake ; because when you attempt to do a thing 3'ou make it the paramount ob- ject, and stick to it until you have mastered the details. The majority of your sex are lacking in that respect; they start in all right, but unfortunately after a first attempt, if the object proves diflfjcult of attainment, they are apt to abandon it, and allow some one to act for them. In proof of this, how many women do you suppose manage their own estates ? " " Why a very large number, I suppose." " Your supposition, then, is a wrong one. They consti- tute a very small minorit}' where the estate is of any size; and not only that, they know so little about their own busi- ness affairs, their agents can cheat and hoodwink tlu-ni in the most flagrant manner, without fear of dijtection.'' " Is there not all the more reason tlien, why I sliould be- come familiar with my affairs? There is no one in tlie whole world I would sooner trust tlian Uncle Charles, but in all probability I sliall outlive him l)y a score or two of years, in which event it is (piite essential that 1 should be prepared to act for myself." FORTUNA. 69 ** I agree with 3^011 perfectly, Miss Montague, and I am sure your resolution will commend itself to your uncle. I am quite free to confess, however, that very few young ladies would care to undertake such an immense task as yours will be. You, of course, don't realize it, but it will take a great deal of your time and attention, and leave very little leisure for social duties, — so dear to the hearts of most women occupying your position." " Oh 1 I realize that it will not be an easy thing, and that I have a great deal to learn ; but as for the pomps and gaieties of society, I can surely afford to forego some of them, although I do not intend to drop out of the social world entirely. I shall endeavor to fill my social obligations satisfactorily, and in addition devote suflicient time to properly look after my estate. Our talk has taken quite a business turn, has it not, Mr. Tremaine ?" laugh- ing heartily as she realized the scope of their conversation. *' One would think that you were my business adviser, to hear the way I have been confiding to you my future plans and ambitions ; " and again she indulged in laughter, which provoked similar strains from Fred. As soon as their merriment had subsided, the latter said, " I look upon it as a matter of confidence that you have talked so freely to me of your affairs, and I shall be only too glad to give you any advice in my power — although, of course. General Montague is better fitted in every way to tell you all that is needful to carry out your plans. As I said before, you will find enough to keep you bus}^ ; and although I had my doubts at first about your being able to discharge the onerous duties you will be called upon to per- form, I am quite convinced, after hearing your lucid ideas on the subject, that you are well qualified to undertake the task." " I prize your opinion, coming from a business man, very much, Mr. Tremaine. Do you know that is what I have 70 FORTUNA. been tr3ing to draw out of you ever so long ; but for some prcverse reason you have been very cbary of 3'our praise." " I considered it my dut}'," Fred replied, " to put both sides of the question plainl}' before you — as a ph3'sician did to me once, when I sought his advice in reference to be- coming a member of his profession. You have passed through the ordeal though better than I did, because I backed out when he related to me the hardships of an ^I. D., whereas you are more determined than ever to go ahead." " Yes, because I know I am right. That you were right in not taking up the medical profession is also proven by 3'Our success as a financier." " How do 3^ou kuow 1 am a success ? " Fred asked. Miss Montague hesitated slightly before repl3'ing, and then smilingly said, " Your friend, Mr. Caldwell, has told me of 3^our wonderful achievements in the financial world. He has given such glowing accounts of 3'ou, I have ([uite made up my mind to add your name to my list of bankers." *' I am exceedingl3' obliged to 3'ou," Fred re})lied, " and shall be delighted to enroll such a fair client on m3'^ books. It is proper to state, however, that Arthur is slightl3' prej- udiced in my favor ; you must recollect that we are close friends, and make allowance accordingl3'." ** A phrenologist once told me," Miss Montague retorted, " that I was a good reader of human nature, and would rarely be deceived ; you must permit me, therefore, to make my own selections." *'0! I am not going to interpose an objection; clients are too hard to secure for that. But when do you' propose starting in on your business training?" " I have already started in to lenrn. I should have thought that your perspiciieitj' would have disclosed to you the object of my (pieHtioning. I mean to talk finaticc witii every well-infornuMl person 1 meet hereafter, and read everything I can lind, hnviiig a bearing on the subject, FORTUNA. 71 until I become tliorouglily posted. As my banker, I nat- urally expect 3'ou to help me all you can ; tell me what to study and how to go about it. When I talk on business topics, I feel as ignorant as a young child just starting in at school, and no doubt I appear so." " It is not to be expected that you should know much about a line of study 3'ou have never taken up," Fred said ; " but where darkness now exists light will soon penetrate, and in time you will be as conversant with matters of business as you are with foreign languages. As your father's estate doubtless consists principally of stocks, bonds, mort- gages and realty, it seems to me that it is necessary for 3'ou to become familiar with everything relating to them. For instance, j^ou will have to study the railroads of the United States, so as to determine which of them offer the safest and best securities for investment. Your uncle, of course, could advise you as to that, but that would not be acting on your own judgment, as you propose doing. Then again you will have to get posted on realty in New York city, so that j^ou can determine what are baro-ains and what are not. When you have reached thus far, j^ou will be in a position to make judicious investments — to separate the wheat from the chaff — and that I take it is the most essential thing for 3'ou to learn. You must not go in with the idea of making money, but rather to keep what 3^ou have got. The natural accumulation of interest from 3^our present holdings, if safely invested, will increase your principal sufficiently without the necessity of jeopardizing any part of it in speculation. When securities are selling high enough to warrant a decline, or surrounding conditions are such that a fall in values seems imminent, it will, of course, be advan- tageous for 3^ou to dispose of some of your holdings with a view of repurchasing at a lower level. In order to accom- plish this, it will be necessar3^ for 3'ou to keep a large por- tion of your funds invested in marketable securities, such as are dealt in on the New York Stock Exchange. In 72 FORTUNA. bundling a large estate like yours, it is absolutely necessary tbat you sbould become as well posted on the ditlerent classes of securities as possible ; keep pace of the railroads you are interested in ; ascertain if tbey are conservatively and well managed, and watch their earnings. Fight shy of a railroad that has a large floating debt, or is in danger of accumulating one, because, sooner or later, such indebted- ness causes the borrower trouble. Another thing to keep pace of, is the increased mileage of a railroad. A great many companies which should be self-sustaining now, be- came bankrupt, owing to the building of extensions in bar- ren territory or through localities already occupied by other lines. In either case, such policy is generally suicidal, be- cause the roads cannot possibly earn the fixed charges on their new branches for years to come, and the losses thus entailed fall upon the stockholders, resulting in diminished dividends or a stoppage of them altogether. Is m}- mean- ing clear, Miss Montague? if not, don't hesitate to ask any questions you see fit." " Perfectly clear. You are well versed in didactics, and I am extremely obliged to you for your enlightening me. I am beginning to understand what is expected of me, and with a few more lessons such as you have just given, shall imagine myself more or less of a financier — more than I was, but less than I hope eventually' to be. You have given me a good text to study, and I shall endeavor to profit by it." " Very well then 1 " he said. " Thus endetli the first lesson." " Are there no books or papers published," she inquired, as tiiough loath to leave the subject, " which will give me an insight into railroad afiairs?" " Oh, yes," he replied. J can furnish you with plenty of that kind of literature. The brokers' bible, 1 imagine, will keep you busy for some months to come." ^ '* What is the brokers' bible?" she smilingly asked. FORTUNA. 73 " A large book called ' Poor's Manual of Railroads,' " be answered, " which is published yearly. It contains full and accurate information of all the railroads in the United States ; and in every banker's and broker's office a cop}' of it can be found. When you pick up your newspaper, in- stead of selecting the society column for information, you must read carefully the market reports which are published daily. You will thus become familiar with financial mat- ters, and at the same time enable 3'ourself to keep abreast of the financial times. If 3'ou faithfully follow the pro- gramme I have laid out, 3'ou will have little time for novel reading for several months. Now if 3^ou have no objection, I propose we go on deck; I think we can do so with safety." CHAPTER IX. A FEW moments afterward, Tremaine and bis fair com- panion were on the deck indulging in a " go as you please walk," or more accurately describing it, '' go as they did not pleasBy'^ for the ship's irregular action made their foot- steps uncertain, and instead of walking a horizontal line, they found themselves one minute brushing the side of the cabin, and the next in close proximity to the guard-rail. Fred, however, found no fault with the situation, especially as he occasionally got a pleasant bump from his companion, and although it occurred to her several times that it was a case of walking under difllciilties, she uttered no protest, and on the whole rather enjoyed it. Connected talk, how- ever, was out of the question, and with the exception of a word now and then, little was said on either side. Miss Montague was mentall}' taking stock of what Mr. Tre- maine had been telling her of linance. She had no misgiv- ings as to her being able to fill the role she had laid out for herself, and was so fascinated with the idea, she was long- ing to return to the subject and receive a second lesson. She restrained from doing so, however, partly because it was impossible to carry on a jointed conversation, and also to a feeling that })erhaps her comi)anion was not interested in her allairs sulliciently to warrant a resumption of tlie subject right away. It may seem strange to the reader that a young lady occupying Miss Montague's position should care to assume such res])onsibilitie8 as she proposed undertaking, and I myself have wondered liow the notion first entered her head; the only j)lausible reason being that slie inherited the taste for finance from her father and unele. Be that as it may, she had fully (Uitenniiied to bt'couu' lur own agent in nuinaging her estate, and as she possessed the 74 FORTUNA. 75 necessary qualifications to do so, no one who knew her, could doubt that she would prove a success. Some such thoughts as these were passing through Tremaine's mind as he walked by her side, and something connected there- with caused him to suddenly laugh. Miss Montague caught the sound and enquired the reason. " I was wondering to mj' self," Fred said, " if, when you learn the waj^s of Wall street, you will ever ' squeeze ' any of your friends on the Exchange." " I don't think I quite catch 3'our meaning," she an- swered, with some show of surprise at his question. " Pardon me for indulging in ' street ' talk," he hastily said. " I meant if you would ever corner a stock on the Exchange and squeeze some of the persons who were ' short ' of it." " You will have to first enlighten me as to the meaning of ' short,' " she smilingly answered. " You must recollect that you are talking to a neophyte." " No he isn't. Miss Montague, but rather to a nymph," they heard somebody say. Looking around they saw that the remark emanated from Mr. Caldwell, who had come up behind, and had caught the last part of Miss Montague's sentence. " How do you do, Mr. Caldwell ; " " Hello, Arthur, where have you been all the morning ? " came from the other two, simultaneously. " Where have I been ? " that gentleman remarked. " You should rather tell me where 3^ou have been. Lord Grand- well, M. Remiere and I have been on a still hunt for you all morning, and not meeting with success we have been endeavoring to kill time in a game of cards." " At which I suppose yoii were successful," Tremaine smilingly remarked, with the accent on you. " Yes," Arthur laughed. " I am afraid I understood the game slightly better than the others. However, they are not much out and I have promised to give them satisfac- 76 FOBTUNA. tion before we reach New York. They are fascinated with the great American game, and the earl declares that it beats baccarat." " You ought not to play cards for monej^," Miss Montague said ; " you should leave that to professional gamblers." " What 1 and let them have all the fun ? " Arthur ex- claimed. " That would certainly be an act of magna- nimity. You don't mean to say 3'ou have never been to Monte Carlo ? " " Yes, I have been there," Miss Montague answered, " but not to indulge in any game of chance." ''You surprise me," Arthur said. " Fred and I went there for a day, and staid nearly a week. The last night we were there, I very nearly broke the bank, and am quite positive I should have done so if this man," indicat- ing Tremaine, " had not begged me to quit. It was an op- portunity of a lifetime, and I shall never have such a chance to legimately break a bank again. Everything ran my way and all the inmates of the room were crowded around my table in the greatest state of excitement. Fred, you were a mean fellow that night ; I know I could have broken the bank. But were they not mad when I left the building with my pockets stuffed full of their money ? " and Caldwell laughed heartily at the recollection. " You were certainly very lucky," Tremaine said, " but the chances are that 3'ou would have been a loser in the end if you had remained much longer. Why, Miss ^lon- tague, you never saw such a reckless person in your life. With every new deal he was increasing his bets — live, ten, and fifteen thousand, and I expected every minute to see him put his whole fortune on the table." "I couldn't do that," Arthur laughed, " l)ecause the most of it was tied up in New York. IJesides, you must give me credit for being the coolest man in the room. You also ought to have remembered that I am a speculator hy profession, and to have made due allowances accordingly." FORTUNA. 77 " I am afraid you are incorrigible, Mr. Caldwell," Miss Montague remarked. *' The Stock Exchange must be a dreadful place for one's morals. Do you go in for specula- tion to the extent that this man does, Mr. Tremaine? " " No, Miss Montague, I do not," he said ; and laughingly added, " but perhaps it is due to the fact that I am not blessed with an independent fortune like Arthur. I have not accumulated sufiicient j'et to hazard the attempt at breaking the bank of Monte Carlo. If I had been left a fortune perhaps I might be more courageous." " You are better without it," she replied, " if you would use it in such a fashion." " Wealth is a snare," quoth Arthur. " I once attended a lecture given by a prominent person in New York. Looking right at me he said : * There are some sons to whom the inheritance of their father's wealth was a dam- ning curse.' I felt uncomfortable for a minute or two, and was on the point of asking the speaker to take my inheri- tance and enjoy himself for the remainder of his days, as he doubtless — from his standpoint — could make better use of it than I. Self-consideration, however, knocked out my benevolent desire, and I left the hall thinking what a nar- row escape I had. But to return to your aspersion against the Stock Exchange, Miss Montague : as a member of that much maligned institution, I must correct the erron- eous impression you seem to have formed concerning it. You are not, perhaps, aware that its members are com- prised of some of the best church-going citizens of New York, a sample of which you find in the highly respectable Mr. Tremaine by your side, and your eminent uncle, whom I regret to say, is not here to speak for himself; and last — but by no means least — your humble servant," bowing low with mock seriousness, " who believes in these lines : " ' Give me good proofs of what you have alleged : 'Tis not enough to say — iu such a bush There lies a thief— in such a cave a beast,' " 78 FORTUNA. " The Stock Exchange has an able defender in you, Mr. Caldwell," she answered. " But I have not made an}- alle- gations against your sacred Exchange. As you have quoted poetry it is permissible for me to return an answer in kind. I recall some lines from Mrs. Hale's pen, which seem to fit your case exactly : " ' None have accused thee ; 'tis thy conscience cries, The witness in the soul that never dies ; Its accusation, like the moauiug wind, Of wintry midnight, moves thy startled mind.' " " Fred, my memory refuses to recall anything appro- priate to answer this young lady. Kindly draw on your stock of knowledge to vindicate ourselves, otherwise she will think that her words have struck home." Thus beseeched, Tremaine quoted from Heath, without a moment's hesitation, " 'Good actions crown themselves with lasting days, Who deserves well needs not another's praise.' " When he bad finished, Caldwell exclaimed, triumphantly, " That's the thing, Fred ; ' good actions speak louder than words'; there is no need of our saying anything else." Turning to Miss IMontague, he said, " We accept your ai)ology, and sometime wlien you are down on Wall street come in and see us, and we will i)rcsent further proof of our uprightness. With the exception of a few ambidexter cusses — I beg your pardon I meant to sa}'' persons — there are no more honorable men to be found anywhere. Hut to change the 8nl)joct; have 3'ou noticed. Miss Montague, that this craft is riding the sea more gentl}' ? We seem to be leaving the storm behind ; nnd I sliould not wonder if we liad a plcnsant afternoon after all. Hy the way, I wonder what our day's run will hv? I went into the auction pool yesterday, and as I hold the low number, should not be surprised if I wi»n the stakes, as the rough weather must FORTUNA. 79 have retarded our progress considerabl3^ Miss Montague, let me take a chance for you in the next pool. I guarantee success or money refunded. Lady Constance has author- ized me to go in both the hat and auction pools for her, and I would like to be your agent also. Do you consent ?" '' I don't think I know what they are," Miss Montague laughingly said. " Besides, I am afraid it is a sort of gambling, and you know I could not consistently go in for that kind of thing, after the talk we have just had on that subject." " Oh, no I There is no gambling in this," Arthur said, decisively. " Have I not guaranteed you against loss ? There is not even a shade of speculation about it, it is sim- ply an investment — that is all ; " and without waiting for her consent, he added, " I will get you a good number, never fear ; " and hurried away, fearful lest she might de- cline the offer. After he had gone. Miss Montague said, " Mr. Caldwell does not permit any chance to speculate to pass him by, does he ? " " No," Fred laughed. " He is a natural born speculator. Perhaps it can be accounted for by the fact that his ven- tures nearly always turn out profitably. His luck, shrewd- ness, sagacity or foresight, or whatever it may be called — and I am inclined to think it is a combination of all — is simply wonderful. If he goes ' long ' or ' short ' of the stock market he makes money on both sides where others seem to fail. It sounds incredulous, I know ; but it is nevertheless the truth." " You have used those expressions ' long ' and ' short ' again. "Won't you please tell me what they mean ? " she asked. " That is easily done," he answered. " A person who buys stock to hold is said to go ' long ' of it and one who sells stock which he does not possess, goes ' short ' of it." " But how can he sell that which he does not possess?" 80 FORTUNA. siio persisted, which brought f