When the wired appeals brought forth nothing but evasive replies, Mr. Farley began to look for trouble, and it came:  first in a mysterious closing of the market against Chiawassee pipe, and next in an alarming advance of freight rates from Gordonia on the Great Southwestern.

Colonel Duxbury doubled his field force and gave his travelers a free hand on the price list.  Persuasion and diplomacy having failed, a frenzy like that of one who finds himself slipping into the sharp-staked pitfall prepared for others seized on him.  It was the madness of those who have seen the clock hands stop and begin to turn steadily backward on the dial of success.

Ten days later the freight rates went up another notch, and there began to be a painful dearth of cars in which to ship the few orders the salesmen were still able to place.  Mr. Farley shut his eyes to the portents, put himself recklessly into Mr. Vancourt Henniker’s hands as a borrower, and posted a notice of a slashing cut in wages at the works.

As a matter of course, the cut bred immediate and tumultuous trouble with the miners, and in the midst of it the president made a flying trip to New York; to the metropolis and to the offices of American Aqueduct to make a final appeal in person.

But the door was shut.  Mr. Dracott was not to be seen, though his assistant was very affable.  No; American Aqueduct was not trying to assimilate the smaller plants, or to crush out all competition, as the public seemed to believe.  With fifty million dollars invested it could easily control a market for its own product, which was all the share-holders demanded.  Was Mr. Farley in the city for some little time? and would he not dine with the assistant at the Waldorf-Astoria?

Mr. Farley took a fast train, south-bound, instead, and on reaching South Tredegar, wired his New York broker to test the market with a small block of Chiawassee Limited.  There were no takers at the upset price; and the highest bid was less than half of the asking.  Colonel Duxbury was writing letters at the Cupola when the broker’s telegram was handed him, and he broke a rule which had held good for the better part of a cautious, self-contained lifetime:  he went to the buffet and took a stiff drink of brandy—­alone.  The following morning the miners and all the white men employed in the furnace and foundries and coke yards at Gordonia went on strike.

“Whom the gods would destroy, they first make mad,” has a wide application in the commercial world.  Duxbury Farley had resources! a comfortable fortune as country fortunes go, amassed by far-seeing shrewdness, a calm contempt for the well-being of his business associates, and most of all by a crowning gift in the ability to recognize the psychological moment at which to let go.

But under pressure of the combined disasters he lost his head, quarreled with his colder-blooded son, and in spite of Vincent’s angry protests, began the suicidal process of turning his available assets into ammunition for the fighting of a battle which could have but one possible outcome.