it is not too much to say that grant was overwhelmed by the unexpected discovery, in his pocket, of a key that fitted the housekeeper's drawer. he saw at once how strong it made the evidence against him, and yet he knew himself to be innocent. the most painful thought was, that mr. reynolds would believe him to be guilty.

in fact, the broker for the first time began to think that grant might possibly have yielded to temptation.

“can't you account for the possession of that key?” he asked.

“no, sir,” answered grant, in painful embarrassment. “i have occasion to use but one key, and that is the key to my valise.”

“i think you had occasion to use the other,” sneered ford.

“mr. ford,” retorted grant, indignantly, “you are determined to think me guilty; but i care nothing for your opinion. i should be very sorry if mr. reynolds should think me capable of such baseness.”

“your guilt seems pretty clear,” said ford, sarcastically; “as i have no doubt mr. reynolds will agree.”

“speak for yourself, mr. ford,” said the banker, quietly.

“i hope you are not going to shield that young thief, mr. reynolds,” said the housekeeper. “his guilt is as clear as noonday. i think he ought to be arrested.”

“you are rather in a hurry, mrs. estabrook,” said mr. reynolds; “and i must request you to be careful how you make charges against me.”

“against you?” asked the housekeeper, alarmed at his tone.

“yes,” answered the broker, sternly. “you have insinuated that i intend to shield a supposed thief. i have only to say that at present the theft is to be proved.”

“i submit, sir,” said ford, “that the evidence is pretty strong. the boy is proved to have had the bonds in his possession, he admits that he sold a part of them and has the money in his possession, and a key is found in his possession which will open the drawer in which the bonds were kept.”

“who put the key in my pocket?” demanded grant, quickly.

for a moment willis ford looked confused, and his momentary confusion was not lost upon grant or the banker.

“no doubt you put it there yourself,” he answered, sharply, after a monent's pause.

“that matter will be investigated,” said the broker.

“i think the money ought to be paid to me,” said the housekeeper.

“can you prove your ownership of the bonds?” asked the broker.

“i can,” answered willis ford, flippantly. “i have seen them.”

“i should like some additional evidence,” said mr. reynolds. “you are related to mrs. esta-brook, and may be supposed to have some interest in the matter.”

“what proof can i have?” asked the housekeeper, disturbed by this unexpected obstacle.

“have you the memorandum of the broker who bought you the bonds.”

“i don't know, sir.”

“then you had better look.”

the housekeeper searched the drawer, and produced, triumphantly, a memorandum to the effect that she had purchased the bonds of a well-known house in wall street.

“so far, so good!” said the broker. “it appears that besides the bonds sold you had four one-hundred-dollar bonds?”

“yes, sir.”

“you had not parted with them?”

“no, sir.”

“they will some time be put on the market, and then we shall have a clew to the mystery.”

“that boy has probably got them,” said the housekeeper, nodding her head emphatically.

“you are at liberty to search my chamber, mrs. estabrook,” said grant, quietly.

“he may have passed them over to that man morrison,” suggested the housekeeper.

“i hardly think that likely,” said willis ford, who saw danger to himself in any persecution of jim morrison.

mr. reynolds noticed his defense of morrison, and glanced at him thoughtfully.

“mrs. estabrook,” he said, “i am satisfied that you possessed the bonds which you claim, and i will relieve your mind by saying that i will guarantee you against loss by their disappearance. you need have no further anxiety on the subject. i will undertake to investigate the matter, which at present appears to be involved in mystery. whether or not i succeed in solving it will not matter to you, since you are saved from loss.”

“thank you, sir,” said the housekeeper, feeling considerably relieved; “it wasn't much, but it was my all. i depended upon it to use when old age prevented me from earning my living.”

“i am glad you are so wise in providing for the future.”

“you won't let that boy escape?” the housekeeper could not help adding.

“if you refer to grant thornton, i think i may say for him that he has no intention of leaving us.”

“is he to stay in the house?”

“of course; and i expect him to aid me in coming to the truth. let me request, mrs. estabrook, that you discontinue referring to him in offensive terms, or i may withdraw my offer guaranteeing you from loss. grant, if you will accompany me, i have some questions to put to you.”

grant and his employer left the room together.

“he won't let the boy be punished, though he must know he's guilty,” said mrs. estabrook, spitefully.

“he makes a fool of himself about that boy,” said willis ford, disconcerted.

“he's an artful young vagabond,” said the housekeeper. “i know he took the bonds.”

“of course he did,” ford assented, though he had the best of reasons for knowing that grant was innocent.

“at any rate,” he continued, “you are all right, mother, since mr. reynolds agrees to make up the value of the bonds to you. when you get your money, just consult me about investing it. don't put it into bonds, for they may be stolen.”

“perhaps i'd better put it into the savings bank,” said his stepmother.

“you'll get very small interest there; i can invest it so you can make quite as much. however, there will be time enough to speak of that when you've got the money. now, mother, i shall have to bid you good-evening.”

“can't you stay longer, willis? i feel so upset that i don't like to be left alone. i don't know what that boy may do.”

“i think you are safe,” said willis ford, secretly amused. but, as he left the house, he felt seriously disquieted. there was danger that jim morrison, when he found the money which he was to receive withheld, would be incensed and denounce ford, who had received back his evidence of indebtedness. should he divulge that the bonds had been given him by ford, grant would be cleared, and he would be convicted of theft.

as ford was leaving the house a telegraph boy was just ascending the steps. it was john cavanagh, already referred to.

as his eyes rested on ford, he said to himself: “where have i seen that feller? i know his face.”

then it flashed upon the boy that he had seen ford at the grand central hotel, in the act of giving bonds to jim morrison.

“it's queer i should meet him here,” said the telegraph boy to himself. “i wonder what game he's up to.”

johnny was introduced into the presence of mr. reynolds, for whom he had a message. on his way out he met grant in the hall. the two boys were acquainted, grant having at one time advanced johnny two dollars toward paying his mother's rent.

“do you live here?” asked the telegraph boy.

“yes,” answered grant.

“i met a feller goin' out that i've seen before. who was it?”

“willis ford, a clerk of mr. reynolds.”

“i seed him in the grand central hotel yesterday givin' some bonds to a suspicious-lookin' chap.”

“you did,” exclaimed grant. “come right up and tell that to mr. reynolds,” and he seized the astonished telegraph boy by the arm.