As soon as they had reckoned up the result of the year, the Consul put his finger on the gross receipts and said, "These are far too small." "Times have been very bad," answered Morten.

"I feel sure that by next year--" "The times have not been so bad," interrupted the father, "but that a house with the capital with which we have to work ought to have managed to earn double.

In my father's time we earned twice as much with half our present capital." "Yes; but times were quite different in those days, father." "And people were quite different too," answered the Consul, severely.
"In those days we were contented to move with caution and foresight, without ruining our credit by mixing with a lot of speculators in all kinds of doubtful undertakings." Morten felt the rebuke, and answered, "I did not think Garman and Worse set such store by its credit in those days." "The house is no longer what it has been," said the young Consul dryly, closing the thick ledger.

He then held out his hand to Morten over the table, and said, "Best wishes for the new year." "The same to you, father," said Morten, as their eyes met for a moment.
The young Consul thought upon the time when he himself stood where Morten was now standing, and when the old Consul sat in the armchair.
How utterly different everything was in the old days! However, the year's account was over, and Morten was glad of it.
After Christmas there was a succession of balls and parties in the town.
At Sandsgaard only one large ball was given every year, and that was on the old Consul's birthday, which fell on the 15th of May.
Madeleine did not go out that winter, neither did she pay any more visits to Fanny.

Rachel was, as usual, quite incomprehensible.