“It’s a heap!” said Barker.  “It’s a ghastly lot now I think of it.  I’m afraid I’m in for fifty thousand, if a cent.”

To his infinite astonishment and delight he was alternately hugged and tossed backwards and forwards between the two men quite in the fashion of the old days.  Breathless but laughing, he at length gasped out, “What does it all mean?”

“Tell him everything, Jim,—­everything,” said Demorest quickly.

Stacy briefly related the story of the forgery, and then laid the letter and its copy before him.  But Barker only read the forgery.

“How could you, Stacy—­one of the three partners of Heavy Tree—­be deceived!  Don’t you see it’s Phil’s handwriting—­but it isn’t Phil!”

“But have you any idea who it is?” said Stacy.

“Not me,” said Barker, with widely opened eyes.  “You see it must be somebody whom we are familiar with.  I can’t imagine such a scoundrel.”

“How did you know that Demorest had stock?” asked Stacy.

“He told me in one of his letters and advised me to go into it.  But just then Kitty wanted money, I think, and I didn’t go in.”

“I remember it,” struck in Demorest.  “But surely it was no secret.  My name would be on the transfer books for any one to see.”

“Not so,” said Stacy quickly.  “You were one of the original shareholders; there was no transfer, and the books as well as the shares of the company were in my hands.”

“And your clerks?” added Demorest.

Stacy was silent.  After a pause he asked, “Did anybody ever see that letter, Barker?”

“No one but myself and Kitty.”

“And would she be likely to talk of it?” continued Stacy.

“Of course not.  Why should she?  Whom could she talk to?” Yet he stopped suddenly, and then with his characteristic reaction added, with a laugh, “Why no, certainly not.”

“Of course, everybody knew that you had bought the shares at Sacramento?”

“Yes.  Why, you know I told you the Van Loo clerks came to me and wanted to take it off my hands.”

“Yes, I remember; the Van Loo clerks; they knew it, of course,” said Stacy with a grim smile.  “Well, boys,” he said, with sudden alacrity, “I’m going to turn in, for by sun-up to-morrow I must be on my way to catch the first train at the Divide for ’Frisco.  We’ll hunt this thing down together, for I reckon we’re all concerned in it,” he added, looking at the others, “and once more we’re partners as in the old times.  Let us even say that I’ve given Barker’s signal or password,” he added, with a laugh, “and we’ll stick together.  Barker boy,” he went on, grasping his younger partner’s hand, “your instinct has saved us this time; d——­d if I don’t sometimes think it better than any other man’s sabe; only,” he dropped his voice slightly, “I wish you had it in other things than finance.  Phil, I’ve a word to say to you alone before I go.  I may want you to follow me.”