to fortify themselves with important facts before entering into hard and
fast transactions. As usual, they pay dearly for such omissions. This
brings us to what might be called The Great American Deluge which
overwhelmed not a few Yankee pocketbooks and left their owners sadder
and saner.

Fully to understand this series of events, you must know that since the
beginning of the war the question of an adequate French coal supply has
been acute. Indeed, for a while the country faced a real crisis. Many of
her mines are in the hands of the Germans and she was forced to turn to
England for help. Not only has the English price risen, but to it must
be added the high cost of transportation, the heavy war risk, and all
those other details that enter into such negotiations.

France had to have coal and various enterprising Americans got on the
job. At least, they thought they were enterprising. Before they got
through, they wished that they had not been so headlong as the following
tale, now to be unfolded, will indicate.

A group of New York men made a contract to deliver three shiploads of
coal at Bordeaux at a certain price. _After_ they had signed the
contract, freight rates from Baltimore to the French port almost
doubled. This was the first of their troubles. When their vessel finally
reached Bordeaux, the dock was so crowded with ships unloading war
munitions that they could not get pier space. In France demurrage begins
the moment a ship stops outside of port. The net result was that these
vessels were held up for nearly two weeks and the high price of
transportation coupled with the very large demurrage practically wiped
out all the profits.