had refused, for the first time, to obey Madame Desvarennes. He acted
with the resolution of a captain of a vessel, who throws overboard a
portion of the cargo to save the ship, the crew, and the rest of the
merchandise. He did well, and the European Credit was safe. The shares
had fallen a little, but a favorable reaction was already showing itself.
The name of Cayrol, and his presence at the head of affairs, had
reassured the public, and the shareholders gathered round him, passing a
vote of confidence.

The banker, devoted to his task, next sought to save Panine, who was at
that very moment robbing him of his honor and happiness in the house of
the Avenue Maillot.

Pierre, Cayrol, and Madame Desvarennes met in Marechal's private office.
Pierre declared that it was imperative to take strong measures and to
speak to the Prince. It was the duty of the mistress to enlighten
Panine, who was no doubt Herzog's dupe.

Madame Desvarennes shook her head sadly. She feared that Serge was not a
dupe but an accomplice. And what could she tell him? Let him ruin
himself! He would not believe her. She knew how he received her advice
and bore her remonstrances.

An explanation between her and Serge was impossible, and her interference
would only hurry him into the abyss.

"Well, then, I will speak to him," said Pierre, resolutely.

"No," said Madame Desvarennes, "not you! Only one here can tell him
efficaciously what he must hear, and that is Cayrol. Let us above all