“James Morrison.”

“Yes; I know him.  He was introduced to me by an intimate friend of that boy,” indicating Grant.

Willis Ford smiled triumphantly.  He felt that he had checkmated our hero.

“Is this true, Grant?”

“I presume so,” answered Grant, coolly.  “You refer to Tom Calder, do you not, Mr. Ford?”

“I believe that is his name.”

“He is not an intimate friend of mine, but we came from the same village.  It is that boy who was with me when I first met you, Mr. Reynolds.”

The broker’s face cleared.

“Yes, I remember him.  But how do you happen to know Tom Calder, Mr. Ford?”

“He had a room at the same house with me.  He introduced himself as a friend of this boy.”

“Do you know anything of him—­how he earns his living?”

“Haven’t the faintest idea,” answered Ford.  “My acquaintance with him is very slight.”

“There seems a mystery here,” said the broker.  “This Morrison gives Grant two bonds to dispose of, which are identified as belonging to my housekeeper.  How did he obtain possession of them?  That is the question.”

“There isn’t much doubt about that,” said Mrs. Estabrook.  “This boy whom you have taken into your family has taken them.”

“You are entirely mistaken, Mrs. Estabrook,” said Grant, indignantly.

“Of course you say so!” retorted the housekeeper; “but it stands to reason that that is the way it happened.  You took them and gave them to this man—­that is, if there is such a man.”

“Your son says there is, Mrs. Estabrook,” said the broker, quietly.

“Well, I don’t intend to say how it happened.  Likely enough the man is a thief, and that boy is his accomplice.”

“You will oblige me by not jumping at conclusions, Mrs. Estabrook,” said Mr. Reynolds.  “Whoever has taken the bonds is likely to be discovered.  Meanwhile your loss will, at all events, be partially made up, since Grant has the money realized from the sale of the greater part of them.”

“I should like to place the money in your hands, Mr. Reynolds,” said Grant.

“But it belongs to me,” said the housekeeper.

“That is undoubtedly true,” said her employer; “but till the matter is ascertained beyond a doubt I will retain the money.”

“How can there be any doubt?” asked the housekeeper, discontented.

“I do not think there is; but I will tell you now.  You claim that your bonds were marked by certain numbers, two of which belong to those which were bought by Mr. Ford at the office to-day?”

“Yes, sir.”

“Meanwhile, you and your stepson have had time to compare notes, and you have had a chance to learn his numbers.”

Mrs. Estabrook turned livid.

“I didn’t expect to have such a charge brought against me, Mr. Reynolds, and by you,” she said, her voice trembling with passion.