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12 Reports from the corn-lands had not been good, and there had been two or three railway statements which had been expected to be much better than they were. But at whatever point in the vast area of speculation the shudder of the threatened break had been felt, 'the Manderson crowd' had stepped in and held the market up. All through the week the speculator's mind, as shallow as it is quick-witted, as sentimental as greedy, had seen in this the hand of the giant stretched out in protection from afar. Manderson, said the newspapers in chorus, was in hourly communication with his lieutenants in the Street. One journal was able to give in round figures the sum spent on cabling between New York and Marlstone in the past twenty-four hours; it told how a small staff of expert operators had been sent down by the Post Office authorities to Marlstone to deal with the flood of messages. Another revealed that Manderson, on the first news of the Hahn crash, had arranged to abandon his holiday and return home by the Lusitania; but that he soon had the situation so well in hand that he had determined to remain where he was.

All this was falsehood, more or less consciously