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 pany. It was just about up the spout when he got hold of it, and I understand he never borrowed a penny for it but backed it with his own capital entirely. It must be a great satisfaction to a man to feel he's made such a position for himself in the world of business."

Ogle thought wonderingly of this phrase, "the world of business." He had always been aware that there was such a world and always felt about it what his father felt about it before him. His father had been a rather embittered and radical assistant professor of English; and Laurence had gone from the life of the university into what he felt was the forefront of the theatre and studio life of New York. So when he thought wonderingly of that phrase used by the worsted man, "the world of business," his wonder was that of the mountaineer who sees pedlars greedily bargaining over their packs far below him in the haze of the plain. The world of these business men, the Tinkers and Wackstles, and worsted men, was a strange gloom, as he thought of it—a smoky twilight wherein they groped ignobly for money and incessantly babbled in their own dialects about their grubbing. To them it was a real world evidently; they passed the word from one to another when one