Mr. Ackerman was as good as his word, for within half an hour he presented himself at the hotel where he found Mr. Tolman, Mr. Donovan and Steve awaiting him in their pleasant upstairs room. As he joined them his eye traveled inquiringly from one to another of the group and lingered with curiosity on the face of the detective. The next instant he was holding out his hand to Stephen.

"Well, my boy, I am glad to see you again," said he, a ring of heartiness in his voice.

"And I am glad to see you, too, Mr. Ackerman," Steve replied, returning the hand-clasp with fervor. "This is my father, sir; and this"—for a second he hesitated, then continued, "is our friend, Mr. Donovan."

With cordiality the New Yorker acknowledged the introductions.

"Mr. Donovan," explained Mr. Tolman, scanning Mr. Ackerman's countenance with a keen, half-quizzical expression, "is from headquarters."

The steamboat magnate started and shot a quick glance at those present. It was plain he was disconcerted and uncertain as to how to proceed.

Mr. Donovan, however, came to his rescue, stepping tactfully into the breach:

"I was not needed for anything but to supply your address, sir; but I was able to do that, so between us all we have contrived to return your pocketbook to you as good as before it left your possession."

As he spoke Mr. Tolman drew forth the missing bill book and held it toward its owner.

"That looks pretty good to me!" Mr. Ackerman exclaimed, as he took the article from Mr. Tolman's outstretched hand and regarded it reflectively. "I don't know when I have ever done anything so careless and stupid. You see I had got part way to the bank before I remembered that I had left my glasses, on which I am absolutely dependent, at home. Therefore, there being no taxi in sight, I hailed a passing bus and climbed up beside this youngster. How the bill book happened to slip out of my pocket I cannot explain. It seemed to me it would be safer to have the securities upon my person than in a bag that might be snatched from me; but apparently my logic was at fault. I was, however, so certain of my wisdom that I never thought to question it until I had reached the sidewalk and the bus had gone.

"Your boy, Mr. Tolman, confided while we rode along this morning that he was visiting in New York for a few days; but of course I did not ask his name or address and so when I wanted his help in tracing the missing pocketbook I had no way of
locating him beyond assuming that he must be staying at one of the hotels. Therefore when the omnibus company could furnish no clue, I got into touch with an agency whose business it is to hunt people up. If the pocketbook had been dropped on the bus I felt sure your boy, who was almost the only other person on top of the coach, would know about it; if, on the other hand, it had been dropped in the street, my problem would be a different one. In either case the sooner I knew my course of action the better. I hope you will believe, Mr. Tolman, that when I called in the aid of detectives I had no suspicions against your son's honesty."

Mr. Tolman waved the final remark aside good-humoredly.

"We have not taken the affair as a personal matter at all," he declared. "We fully appreciate your difficulty in finding Stephen, for he was also up against the problem of finding you. New York is a rather large city anyway, and for two people who do not even know one another's names to get together is like hunting a needle in a haystack. Our only recourse to discovering the owner of the pocketbook would be through the advertising columns of the papers and that is the method we should have followed had not Donovan appeared and saved us the trouble."

He exchanged a smile with the detective.

"The advertising column was my one hope," Mr. Ackerman replied. "I felt sure that any honest person who picked up the purse would advertise it.
It was not the honest people I was worrying about. It was the thought that I had dropped the bill book in the street where any Tom-Dick-and-Harry could run away with it that concerned me. Moreover, even if your boy had found it on the bus, he might have turned it in to an employee of the coach line who was not honest enough to give it in turn to his superiors. So I wanted to know where I stood; and now that I do I cannot tell you how grateful I am both to Stephen and to this officer here for the service they have rendered me." Then, turning toward Mr. Tolman, he added in an undertone, "I hope neither you nor your son have suffered any annoyance through this unfortunate incident."

"Not in the least," was the prompt response. "I confess we were a trifle disconcerted at first; but Mr. Donovan has performed his duty with such courtesy that we entertain toward him nothing but gratitude."

"I am glad of that," Mr. Ackerman replied, "for I should deeply regret placing either you or your boy, even for a moment, in an uncomfortable position, or one where it might appear that I—"

But Mr. Tolman cut him short.

"You took the quickest, most sensible course, Ackerman," said he. "Too much was at stake for you to risk delay. When a pocketbook filled with negotiable securities disappears one must of necessity act with speed. Neither Stephen nor I cherish the least ill-will about the affair; do we, son?"

"No, indeed."

Then smiling ingenuously up into the face of the New York man, he said:

"Don't you want to look in your pocketbook and see if everything is all right, sir?"

The steamboat financier laughed.

"You are a prudent young man," declared he. "No, I am quite willing to risk that the property you have so kindly guarded is intact."

"It ought to be," the boy said. "I haven't even opened the pocketbook."

"A better proof still that everything is safe within it," chuckled Mr. Ackerman. "No, sonny, I am not worrying. I should not worry even if you had ransacked the bill book from one end to the other. I'd take a chance on the honesty of a boy like you."

Mr. Tolman, however, who had been listening, now came forward and broke into the conversation:

"Stephen's suggestion is a good, businesslike one, Ackerman," he declared. "As a mere matter of form—not as a slam against our morals—I am sure that both he and I would prefer that you examined your property while we are all here together and assure yourself that it is all right."

"Pooh! Pooh! Nonsense!" objected the financier.

"It is a wise notion, Mr. Ackerman," rejoined Mr. Donovan. "Business is business. None of us questions the honor of Mr. Tolman or his son. They know that. Nevertheless I am sure we should
all feel better satisfied if you went through the formality of an investigation."

"Very well, just as you say. But I want it understood that I do it at their and your request. I am perfectly satisfied to leave things as they are."

Taking the now familiar red pocketbook from his coat he opened it unconcernedly; then the three persons watching him saw a look of consternation banish the smile from his face.

"What's wrong, Ackerman?" inquired the plain-clothes man quickly.

Without a word the other held the bill book toward him. It was empty. Bonds, securities, money were gone! A gasp of incredulity came from Stephen.

"I didn't open it—truly I didn't!" exclaimed he, in a terror-stricken voice.

But Mr. Ackerman did not heed the remark.

"I am afraid this looks pretty black for us, Ackerman," said Mr. Tolman slowly. "We have nothing to give you but the boy's word."

Mr. Donovan, however, who had been studying the group with a hawklike scrutiny now sprang to his feet and caught up his hat.

"I don't see how they dared put it over!" he exclaimed excitedly. "But they almost got away with it. Even I was fooled."

"You don't mean to insinuate," Mr. Tolman burst out, "that you think we—"

"Good heavens, no!" replied the detective with his hand on the door knob. "Don't go getting hot
under the collar, Mr. Tolman. Nobody is slamming you. I have been pretty stupid about this affair, I'm afraid; but give me credit for recognizing honest people when I see them. No, somebody has tricked you—tricked you all. But the game isn't up yet. If you gentlemen will just wait here—"

The sentence was cut short by the banging of the door. The detective was gone. His departure was followed by an awkward silence.

Mr. Ackerman's face clouded into a frown of disappointment and anxiety; Mr. Tolman paced the floor and puffed viciously at a cigar; and Steve, his heart cold within him, looked from one to the other, chagrin, mortification and terror in his eyes.

"I didn't open the pocketbook, Mr. Ackerman," he reiterated for the twentieth time. "I truly didn't."

But the steamboat magnate was too deeply absorbed in his own thoughts and speculations to notice the high-pitched voice with its intonation of distress.

At last Mr. Tolman could endure the situation no longer.

"This is a most unfortunate happening, Ackerman," he burst out. "I am more concerned about it than I can express. My boy and I are utter strangers to you and we have no way of proving our honesty. All I can say is that we are as much amazed at the turn affairs have taken as yourself, and we regret it with quite as much poignancy—perhaps
more since it reflects directly upon us. If there is anything we can do—"

He stopped, awaiting a reply from the other man, but none came.

"Good heavens, Ackerman," he cried. "You don't mean to say you do not believe my son and me—that you suspect us of double-dealing!"

"I don't know what to believe, Tolman," owned Mr. Ackerman with candor. "I want very much to credit your story; in my heart, I do credit it. But head and heart seem to be at variance in this matter. Frankly I am puzzled to know where the contents of that pocketbook have gone. Were the things taken out before the bill book fell into your son's hands or afterward? And if afterward, who took them? Who had the chance? Donovan seems to think he has a clue, but I confess I have none."

"Hadn't you looked over the bonds and stuff since you took them home?"

"No," Mr. Ackerman admitted. "I got them from the broker yesterday and as it was too late to put them into the safe-deposit vault, I took them home with me instead of putting them in our office safe as I should have done. I thought it would be easier for me to stop at the bank with them this morning on my way to business. It was foolish planning but I aimed to save time."

"So the pocketbook was at your house over night?"

Mr. Ackerman nodded.

"Yes," confessed he. "Nevertheless it did not
go out of my possession. I had it in the inner pocket of my coat all the time."

"You are sure no one took the things out while you were asleep last night?"

"Why—I—I don't see how they could," faltered Mr. Ackerman. "My servants are honest—at least, they always have been. I have had them for years. Moreover, none of them knew I had valuable papers about me. How could they?" was the reply.

Once more silence fell upon the room.

"Come, Tolman," ejaculated the steamboat man presently, "you are a level-headed person. What is your theory?"

"If I did not know my son and myself as well as I do," Mr. Tolman answered with deliberation, "my theory would be precisely what I fancy yours is. I should reason that during the interval between the finding of the purse and its return the contents had been extracted."

He saw the New Yorker color.

"That, I admit, is my logical theory," Mr. Ackerman owned with a blush, "but it is not my intuitive one. My brain tells me one thing and my heart another; and in spite of the fact that the arguments of my brain seem correct I find myself believing my heart and in consequence cherishing a groundless faith in you and your boy," concluded he, with a faint smile.

"That is certainly generous of you, Ackerman!" Mr. Tolman returned, much moved by the other's
confidence. "Stephen and I are in a very compromising situation with nothing but your belief between us and a great deal of unpleasantness. We appreciate your attitude of mind more than we can express. The only other explanation I can offer, and in the face of the difficulties it would involve it hardly seems a possible one, is that while the coat was hanging in the lobby—"

There was a sound outside and a sharp knock at the door, and an instant later Mr. Donovan entered, his face wreathed in smiles. Following him was the woman who had checked the coats, a much frightened bell boy, and a blue-uniformed policeman.

The woman was sobbing.

"Indeed, sir," she wailed, approaching Steve, "I never meant to keep the pocketbook and make trouble for you. I have a boy of my own at home, a lad about your age. What is to become of him now? Oh, dear; oh, dear!"

She burst into passionate weeping.

"Now see here, my good woman, stop all this crying and talk quietly," cut in the policeman in a curt but not unkind tone. "If you will tell us the truth, perhaps we can help you. In any case we must know exactly what happened."

"She must understand that anything she says can be used against her," cautioned the detective, who in spite of his eagerness to solve the mystery was determined the culprit should have fair play.

"Indeed, I don't care, sir," protested the maid,
wiping her eyes on her ridiculously small apron. "I can't be any worse off than I am now with a policeman taking me to the lock-up. I'll tell the gentlemen the truth, I swear I will."

With a courtesy he habitually displayed toward all womanhood Mr. Tolman drew forward a chair and she sank gratefully into it.

"I spied the bill book in the young gentleman's pocket the minute he took off his coat," began she in a low tone. "It was bright colored and as it was sticking part way out I couldn't help seeing it. Of course, I expected he would take it with him into the dining room but when he didn't I came to the conclusion that there couldn't be anything of value in it. But by and by I had more coats to hang up and one of them, a big, heavy, fur-lined one, brushed against the young gentleman's ulster and knocked the pocketbook out on to the floor so that it lay open under the coat rack. It was then that I saw it was stuffed full of papers and things."

She stopped a moment to catch her breath and then went resolutely on:

"It seemed to me it was no sort of a plan to put the wallet back into the lad's pocket, for when I wasn't looking somebody might take it. So I decided I much better keep it safe for him, and maybe," she owned with a blush, "get a good-sized tip for doing it. I have a big pocket in my underskirt where I carry my own money and I slipped it right in there, meaning to hand it to the young man when he came out from lunch."

The corners of her mouth twitched and her tears began to fall again, but she wiped them away with her apron and proceeded steadily:

"But nothing turned out as I planned, for no sooner was the bill book in my pocket than I was called away to help about the wraps at a lady's luncheon upstairs. There were so many people about the hall that I had no chance to restore the bill book to the lad's pocket without some one seeing me and thinking, perhaps, that I was stealing. There was no help but to take it with me, trusting they would not keep me long upstairs and that I would get back to my regular place before the young gentleman came out of the dining room. It was when I got out of the elevator in the upper hall that I spied Dick, one of the bell boys I knew, and I called to him; and after explaining that I couldn't get away to go downstairs I asked him to take the wallet and put it in 47's pocket. He's a good-natured little chap and always ready to do an errand, and more than that he's an honest boy. So I felt quite safe and went to work, supposing the young man had his pocketbook long ago."

All eyes were turned upon the unlucky bell boy who hung his head and colored uncomfortably.

"So it was the boy who took the contents of the pocketbook!" was Mr. Ackerman's comment.

"Speak up, boy," commanded the officer. "The gentleman is talking to you." The lad looked up with a frightened start.

He might have been sixteen years of age but he
did not look it for he was pale and underfed; nor was there anything in his bearing to indicate the poise and maturity of one who was master of the occasion. On the contrary, he was simply a boy who was frankly distressed and frightened, and as unfeignedly helpless in the present emergency as if he had been six years old and been caught stealing jam from the pantry shelf. It did not take more than a glance to convince the onlookers that he was no hardened criminal. If he had done wrong it had been the result either of impulse or mischief, and the dire result of his deed was a thing he had been too unsophisticated to foresee. The plight in which he now found himself plainly amazed and overwhelmed him and he looked pleadingly at his captors.

"Well, my boy, what have you to say for yourself?" repeated Mr. Ackerman more gently.

"Nothin'."

"Nothing?"

"No, sir."

"You did take the things out of the pocketbook then."

"Yes, sir."

"But you are not a boy accustomed to taking what does not belong to you."

The culprit shot a glance of gratitude toward the speaker but made no reply.

"How did you happen to do it this time?" persisted Mr. Ackerman kindly. "Come, tell me all about it."

Perhaps it was the ring of sympathy in the elder man's voice that won the boy's heart. Whatever the charm, it conquered; and he met the eyes that scanned his countenance with a timid smile.

"I wanted to see what was in the pocketbook," said he with naïve honesty, "and so I took the things out to look at them. I wasn't goin' to keep 'em. I dodged into one of the little alcoves in the hall and had just pulled the papers out when I heard somebody comin'. So I crammed the whole wad of stuff into my pocket, waiting for a time when I could look it over and put it back. But I got held up just like Mrs. Nolan did," he pointed toward the woman in the chair. "Some man was sick and the clerk sent me to get a bottle of medicine the minute I got downstairs, and all I had the chance to do was to stick the empty wallet in 47's pocket and beat it for the drug store. I thought there would be letters or something among the papers that would give the name of the man they belonged to, and I'd take 'em to the clerk at the desk an' say I found 'em. But no sooner had I got the medicine up to room Number 792 than the policeman nabbed me with the papers an' things on me. That's all there is to it, sir."

"Have you the things now?" the officer put in quickly.

"Sure! Didn't I just tell you I hadn't had the chance to hand 'em over to the clerk," the boy reiterated, pulling a wad of crumpled Liberty
Bonds and documents out of his pocket, and tumbling them upon the table.

There was no doubting the lad's story. Truth spoke in every line of his face and in the frankness with which he met the scrutiny of those who listened to him. If one had questioned his uprightness the facts bore out his statements, for once out of the hotel on an errand he might easily have taken to his heels and never returned; or he might have disposed of his booty during his absence. But he had done neither. He had gone to the drug store and come back with every intention of making restitution for the result of his curiosity. That was perfectly evident.

"I'm sorry, sir," he declared, when no one spoke. "I know I shouldn't have looked in the pocketbook or touched the papers; but I meant no harm—honest I didn't."

"I'll be bound of that, sir," the woman interrupted. "Dick was ever a lad to be trusted. The hotel people will tell you that. He's been here several years and there's never been a thing against him. I blame myself for getting him into this trouble, for without meaning to I put temptation in his way. I know that what he's told you is the living t............