I just wanted to said " Madam? " because it refer to woman but when there a woman voice inside of this room clear my doubt. However there some doubt still not left in my heart. How and why this Merchant Guild Master is a woman. History from the knowledge I got in the future. Woman especially have a hard time to get respect from the man. You can said a woman is only tool for them. Especially for higher up in any guild. Noble and in royal family too. It not like woman cannot be a leader. It just some their rights cannot be fulfilled. Love, work and humanity towards woman is not too show up in this era. Basically if you as a woman make a small mistake. You end up become a puppet towards your enemy.