Maison Derriere. Tommy, in his little sailor outfit, has wandered into the red-light district, and a pair of mischievous whores see that he's looking for Josephine and direct him down the hall. He gets to the door and does not heed the warning noises of grunts and moans coming from therein. When he does open the door, he sure gets an eyeful, of Josephine being taken from behind by some pasty John. Josephine spots Tommy in the mirror and yelps, causing her John to holler, causing Tommy to book it down the hall, past those two giggling harpies.
Back at the Ritz, Margaret is trying to convince Nucky that he does indeed have a concussion and that he should be resting. He grumbles and goes in and out of optimum mental acuity. He starts to ask whether Emily liked the pony they got her, only to remember once again that, no, they didn't get her a pony. He then asks her if she found the earring she'd lost -- the little bird earring. He's thinking of Billie, of course, searching for her earring last week before their fateful trip to Babbette's. Margaret realizes this but simply says no, she hasn't found it yet. Eli and Sleater knock on the door and Margaret gets up to give the men their space.
Nucky once again chides Eli for "mumbling" because he can't hear anything due to the ringing in his ears. He goes to stand up so they can talk business in his office, but the act of standing fucks his head up and he has to sit back down. So they will talk business in the bedroom. Margaret goes to leave, but Nucky tells her to stay -- "you belong here with me." She's super awkward but she takes a seat. Sleater reports that all the bootleggers have confirmed attendance at tonight's meeting, except Torrio (which is no surprise; that man is still blissed out on Pompeii -- ain't no way he's wading into these choppy waters). Eli and Sleater then begin to tap-dance around the idea of cancelling the meeting because Nucky's head is in no condition to conduct such a summit. Support for the idea is tenuous as it is. Nucky once again runs down the list of invited guests, I guess to show that he can remember them all, and with clear-headed conviction, he says that after the meeting, "Joe Masseria will be a dead man, Gyp Rosetti won't have anyone to protect him, and I'll wear that dago's guts like a necktie." The camera is on Margaret's face for that entire tirade, and her eyes go wide at finally seeing in person what she's up until now only assumed. Everybody's staring at Nucky and he asks if he was slurring his words. Eli kind of half-smiles and says no, he was clear as a bell. Nucky goes to lie back down and asks Margaret for some ice water, totally oblivious to how traumatized she might be.