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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 Iโ€”"

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 formโ€”not as a slam against our moralsโ€”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 itโ€”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 weโ€”"

"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 youโ€”tricked you all. But the game isn't up yet. If you gentlemen will just wait hereโ€”"

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 poignancyโ€”perhaps more since it reflects directly upon us. If there is anything we can doโ€”"

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 meโ€”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?"

"Whyโ€”Iโ€”I don't see how they could," faltered Mr. Ackerman. "My servants are honestโ€”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 lobbyโ€”"

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

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