1. The Initial Meeting: The story opens with two men, Jimmy Wells and Bob, making plans to meet after twenty years at the old corner of Delmonico's. Both are unaware of the dramatic shift in their lives, as Jimmy has become a successful businessman while Bob has struggled financially. The irony lies in the fact that the reader is aware of this contrast, while the characters are oblivious.
2. Jimmy's Expectations: Jimmy eagerly anticipates the reunion with his old friend, reminiscing about their shared past. He visualizes Bob as a successful businessman or respected professional. However, the reader already knows that this assumption is inaccurate, creating an ironic juxtaposition between Jimmy's expectations and reality.
3. Bob's Transformation: Bob shows up looking unkempt and in need, revealing a stark difference from the prosperous figure Jimmy had envisioned. This contrast heightens the sense of irony and emphasizes the gap between their lives.
4. Jimmy's Offer: When Jimmy offers Bob fifty dollars to help him get back on his feet, the reader expects a grateful response. Instead, Bob stubbornly declines, preserving his pride even in his dire situation. This unexpected rejection adds another layer of irony to the encounter.
5. The Gun and Recognition: As the tension between them escalates, Jimmy pulls out a gun, mistakenly believing Bob is a thief. In a tense standoff, the truth is finally revealed, and both men recognize each other. The realization heightens the irony of the situation, as the gun originally aimed for safety becomes a symbol of their renewed friendship.
O. Henry's use of irony allows the story's plot and themes to unfold in unexpected and emotionally charged ways. It generates a sense of tension, surprise, and reflection for both the characters and the reader.