As claims arose he settled them in the best manner he could, and postponed the inevitable day when he should have to give a true account of their financial position.

He hoped against hope that the chapter of accidents or the arrival of some brilliant cargoes from the coast might set the concern on its legs again.
From day to day he had been expecting news of one of his vessels.
At last one morning he found a telegram awaiting him at the office.
He tore it eagerly open, for it bore the Madeira mark.

It was from his agent, Jose Alveciras, and announced that the voyage from which he had hoped so much had been a total failure.

The cargo was hardly sufficient to defray the working expenses.

As the merchant read it, his head dropped over the table and he groaned aloud.