pills," the Chemist continued, "I shall not speak unless it is absolutely necessary. I do not know what my sensations will be, and I want to follow them as closely as possible." He then turned out all the lights in the room with the exception of the center electrolier, that shone down directly on the handkerchief and ring.

The Chemist looked about him. "Good-by, gentlemen," he said, shaking hands all round. "Wish me luck," and without hesitation he placed the four pills in his mouth and washed them down with a swallow of water.

Silence fell on the group as the Chemist seated himself and covered his face with his hands. For perhaps two minutes the tenseness of the silence was unbroken, save by the heavy breathing of the Banker as he lay huddled in his chair.

"Oh, my God! He is growing smaller!" whispered the Big Business Man in a horrified tone to the Doctor. The Chemist raised his head and smiled at them. Then he stood up, steadying himself against a chair. He was less than four feet high. Steadily he grew smaller before their horrified eyes. Once he made, as if to speak, and the Doctor knelt down beside him. "It's all right, good-by," he said in a tiny voice.

Then he stepped upon the handkerchief. The Doctor knelt on the floor beside it, the wooden spoon ready in his hand, while the others, except the Banker, stood behind him. The figure of the Chemist, standing motionless near the edge of the handkerchief, seemed now like a little white wooden toy, hardly more than an inch in height.

Waving his hand and smiling, he suddenly started to walk and then ran swiftly over to the ring. By the time he reached it, somewhat out of breath, he was little more than twice as high as the width of its band. Without pausing, he leaped up, and sat astraddle, leaning over and holding to it tightly with his hands. In another moment he was on his feet, on the upper edge of the ring, walking carefully along its circumference towards the scratch.

The Big Business Man touched the Doctor on the shoulder and tried to smile. "He's making it," he whispered. As if in answer the little figure turned and waved its arms. They could just distinguish its white outline against the gold surface underneath.

"I don't see him," said the Very Young Man in a scared voice.

"He's right near the scratch," answered the Doctor, bending closer. Then, after a moment, "He's gone." He rose to his feet. "Good Lord! Why haven't we a microscope!"

"I never thought of that," said the Big Business Man, "we could have watched him for a long time yet."

"Well, he's gone now," returned the Doctor, "and there is nothing for us to do but wait."

"I hope he finds that girl," sighed the Very Young Man, as he sat chin in hand beside the handkerchief.

CHAPTER III

AFTER FORTY-EIGHT HOURS

The Banker snored stertorously from his mattress in a corner of the room. In an easy-chair near by, with his feet on the table, lay the Very Young Man, sleeping also.

The Doctor and the Big Business Man sat by the handkerchief conversing in low tones.

"How long has it been now?" asked the latter.

"Just forty hours," answered the Doctor; "and he said that forty-eight hours was the limit. He should come back at about ten to-night."

"I wonder if he will come back," questioned the Big Business Man nervously. "Lord, I wish he wouldn't snore so loud," he added irritably, nodding in the direction of the Banker.

They were silent for a moment, and then he went on: "You'd better try to sleep a little while, Frank. You're worn out. I'll watch here."

"I suppose I should," answered the Doctor wearily. "Wake up that kid, he's sleeping most of the time."

"No, I'll watch," repeated the Big Business Man. "You lie down over there."

The Doctor did so while the other settled himself more comfortably on a cushion beside the handkerchief, and prepared for his lonely watching.

The Doctor apparently dropped off to sleep at once, for he did not speak again. The Big Business Man sat staring steadily at the ring, bending nearer to it occasionally. Every ten or fifteen minutes he looked at his watch.

Perhaps an hour passed in this way, when the Very Young Man suddenly sat up and yawned. "Haven't they come back yet?" he asked in a sleepy voice.

The Big Business Man answered in a much lower tone. "What do you mean—they?"

"I dreamed that he brought the girl back with him," said the Very Young Man.

"Well, if he did, they have not arrived. You'd better go back to sleep. We've got six or seven hours yet—maybe more."

The Very Young Man rose and crossed the room. "No, I'll watch a while," he said, seating himself on the floor. "What time is it?"

"Quarter to three."

"He said he'd be back by ten to-night. I'm crazy to see that girl."

The Big Business Man rose and went over to a dinner-tray, standing near the door. "Lord, I'm hungry. I must have forgotten to eat to-day." He lifted up one of the silver covers. What he saw evidently encouraged him, for he drew up a chair and began his lunch.

The Very Young Man lighted a cigarette. "It will be the tragedy of my life," he said, "if he never comes back."

The Big Business Man smiled. "How about his life?" he answered, but the Very Young Man had fallen into a reverie and did not reply.

The Big Business Man finished his lunch in silence and was just about to light a cigar when a sharp exclamation brought him hastily to his feet.

"Come here, quick, I see something." The Very Young Man had his face close to the ring and was trembling violently.

The other pushed him back. "Let me see. Where?"

"There, by the scratch; he's lying there; I can see him."

The Big Business Man looked and then hurriedly woke the Doctor.

"He's come back," he said briefly; "you can see him there." The Doctor bent down over the ring while the others woke up the Banker.

"He doesn't seem to be getting any bigger," said the Very Young Man; "he's just lying there. Maybe he's dead."

"What shall we do?" asked the Big Business Man, and made as if to pick up the ring. The Doctor shoved him away. "Don't do that!" he said sharply. "Do you want to kill him?"

"He's sitting up," cried the Very Young Man. "He's all right."

"He must have fainted," said the Doctor. "Probably he's taking more of the drug now."

"He's much larger," said the Very Young Man; "look at him!"

The tiny figure was sitting sideways on the ring, with its feet hanging over the outer edge. It was growing perceptibly larger each instant, and in a moment it slipped down off the ring and sank in a heap on the handkerchief.

"Good Heavens! Look at him!" cried the Big Business Man. "He's all covered with blood."

The little figure presented a ghastly sight. As it steadily grew larger they could see and recognize the Chemist's haggard face, his cheek and neck stained with blood, and his white suit covered with dirt.

"Look at his feet," whispered the Big Business Man. They were horribly cut and bruised and greatly swollen.

The Doctor bent over and whispered gently, "What can I do to help you?" The Chemist shook his head. His body, lying prone upon the handkerchief, had torn it apart in growing. When he was about twelve inches in length he raised his head. The Doctor bent closer. "Some brandy, please," said a wraith of the Chemist's voice. It was barely audible.

"He wants some brandy," called the Doctor. The Very Young Man looked hastily around, then opened the door and dashed madly out of the room. When he returned, the Chemist had grown to nearly four feet. He was sitting on the floor with his back against the Doctor's knees. The Big Business Man was wiping the blood off his face with a damp napkin.

"Here!" cried the Very Young Man, thrusting forth the brandy. The Chemist drank a little of it. Then he sat up, evidently somewhat