Cayrol was most uneasy, and made a confidant of his wife, who, deeply troubled, told Panine the fears his friends entertained on his account.  The Prince smiled disdainfully, saying these fears were the effect of plebeian timidity.  The mistress understood nothing of great speculations, and Cayrol was a narrow-minded banker!  He knew what he was doing.  The results of his speculations were mathematical.  So far they had not disappointed his hopes.  The great Universal Credit Company, of which he was going to be a director, would bring him in such an immense fortune that he would be independent of Madame Desvarennes.

Jeanne, terrified at this blind confidence, tried to persuade him.  Serge took her in his arms, kissed her, and banished her fears.

Madame Desvarennes had forbidden her people to tell Micheline anything of what was going on, as she wished her to remain in perfect ignorance.  By a word, the mistress, if she could not have prevented the follies of which Serge was guilty, could, at least, have spared herself and her daughter.  It would have only been necessary to reveal his behavior and betrayal to Micheline, and to provoke a separation.  If the house of Desvarennes were no longer security for Panine, his credit would fall.  Disowned by his mother-in-law, and publicly given up by her, he would be of no use to Herzog, and would be promptly thrown over by him.  The mistress did not wish her daughter to know the heartrending truth.  She would not willingly cause her to shed tears, and therefore preferred risking ruin.

Micheline, too, tried to hide her troubles from her mother.  She knew too well that Serge would have the worst of it if he got into her black books.  With the incredible persistence of a loving heart, she hoped to win back Serge.  Thus a terrible misunderstanding caused these two women to remain inactive and silent, when, by united efforts, they might, perhaps, have prevented dangers.

The great speculation was already being talked about.  Herzog was boldly placing his foot on the summit whereon the five or six demigods, who ruled the stock market, were firmly placed.  The audacious encroachments of this newcomer had vexed these formidable potentates, and already they had decided secretly his downfall because he would not let them share in his profits.

One morning, the Parisians, on awakening, found the walls placarded with notices advertising the issue of shares in the Universal Credit Company, and announcing the names of the directors, among which appeared that of the Prince.  Some were members of the Legion d’Honneur; others recent members of the Cabinet Council, and Prefets retired into private life.  A list of names to dazzle the public, but all having a weak point.

This created a great sensation in the business world.  Madame Desvarennes’s son-in-law was on the board.  It was a good speculation, then?  People consulted the mistress, who found herself somewhat in a dilemma; either she must disown her son-in-law, or speak well of the affair.  Still she did not hesitate, for she was loyal and honest above all things.  She declared the speculation was a poor one, and did all she could to prevent any of her friends becoming shareholders.