“I had positive evidence that the boy in question had a tin box concealed in his house—­in his mother’s trunk.  His poverty made it impossible that the box could be his, and I accordingly had him arrested.”

“Well, what was the result of the trial?”

“I was obliged to let him go, though by no means satisfied of his innocence.”

“Why?”

“A man—­a stranger—­a very suspicious-looking person, presented himself, and swore that the box was his, and that he had committed it to the charge of this boy.”

“Well, that seems tolerably satisfactory, doesn’t it?—­that is, if he furnished evidence confirming his statement.  Did he open the box in court?”

“Yes.”

“And the bonds were not there?”

“The bonds were not there only some papers, and what appeared to be certificates of stock.”

“Yet you say you are still suspicious of this man and boy.”

“Yes.”

“Explain your grounds.”

“I thought,” replied the president, rather meekly, “he might have taken the bonds from the box and put in other papers.”

“That was not very probable.  Moreover, he would hardly be likely to leave the box in the village in the charge of a boy.”

“The boy might have been his confederate.”

“What is the boy’s reputation in the village?  Has he ever been detected in any act of dishonesty?”

“Not that I know of, but there is one suspicious circumstance to which I would like to call your attention.”

“Well?”

“Since this happened Luke has come out in new clothes, and wears a silver watch.  The family is very poor, and he could not have had money to buy them unless he obtained some outside aid.”

“What, then, do you infer?”

“That he has been handsomely paid for his complicity in the robbery.”

“What explanation does he personally give of this unusual expenditure?”

“He admits that they were paid for by this suspicious stranger.”

“Has the stranger—­what is his name, by the way?”

“Roland Reed, he calls himself, but this, probably, is not his real name.”

“Well, has this Reed made his appearance in the village since?”

“If so, he has come during the night, and has not been seen by any of us.”

“I can’t say I share your suspicion against Mr. Reed.  Your theory that he took out the bonds and substituted other papers is far-fetched and improbable.  As to the boy, I consider him honest and reliable.”

“Do you know Luke Larkin?” asked Mr. Duncan quickly.

“Last summer I observed him somewhat, and never saw anything wrong in him.”

“Appearances are deceitful,” said the bank president sententiously.

“So I have heard,” returned Mr. Armstrong dryly.  “But let us go on.  What other steps have you taken to discover the lost box?”

“I have had the bank vaults thoroughly searched,” answered Duncan, trying to make the best of a weak situation.