When Fred met Mr. Wainwright at the office the next morning his employer greeted him with a pleasant smile, but did not stop to speak. Fred felt relieved, for it embarrassed him to be thanked, and since the evening previous no one had met him without speaking of his heroism. Now Fred was inclined to be modest, and he could not possibly feel that he had done anything heroic, though he was quite aware that he had saved the life of Rose Wainwright. He looked upon it rather as a fortunate opportunity for rendering his employer a valuable service.

At one o'clock Fred took his hat, intending to go to lunch. He lunched at a quiet place in Nassau Street, and never spent over twenty-five cents for this meal, feeling that he must give the bulk of his salary to his mother.

He was just going out when he heard his name called.

Looking back, he saw that it was the broker himself who was speaking to him. Mr. Wainwright had his hat on, and seemed about going out, too.

"You must go to lunch with me to-day, Fred."

"Thank you, sir," answered Fred respectfully.

They walked through Wall Street together, the broker chatting pleasantly. On the way Fred met Raymond, who stared in surprise and disgust as he saw the intimate terms on which Fred appeared to be with his wealthy employer. Mr. Wainwright led the way into an expensive restaurant of a very select character, and motioned Fred to sit down at a table with him.

After the orders were given, he said: "I have invited you to lunch with me, as I could not speak at the office without being overheard. Of course the great service which you rendered me and mine last evening, I can never forget. I do not propose to pay you for it."

"I am glad of that, sir," said Fred earnestly.

"I feel that money is entirely inadequate to express my gratitude, but I shall lose no opportunity of advancing your interests and pushing you on in business."

"Thank you, sir."

"Indeed, it so happens that I have an opportunity even now of showing my confidence in you."

Fred listened with increased attention.

"Some months since," continued the broker, "a confidential clerk who had been employed in my office for years suddenly disappeared, and with him about fifteen thousand dollars in money and securities. As they were my property, and no one else was involved, I did not make the loss public, thinking that I might stand a better chance of getting them back."

"But, sir, I should think the securities would be sold, and the amount realized spent."

"Well thought of, but there was one hindrance. They were not negotiable without the indorsement of the owner in whose name they stood."

"Yes, sir, I see."

"Sooner or later, I expected to hear from them, and I have done so. Yesterday this letter came to me from my defaulting clerk."

He placed a letter, with a Canadian postmark in Fred's hand.

"Shall I read it?'" asked Fred.

"Yes, do so."

This was the letter:

MR. WAINWRIGHT,

DEAR SIR—I am ashamed to address you after the manner in which I have betrayed your confidence and robbed you, but I do it in the hope of repairing to some extent the wrong I have committed, and of restoring to you a large part of the stolen bonds. If it depended on myself alone I should have little difficulty, but I had a partner in my crime. I may say indeed that I never should have robbed you had I not been instigated to it by another, This man, who calls himself Paul Bowman, I made acquaintance with at a billiard saloon in New York. He insinuated himself into my confidence, inquired my salary, denounced it as inadequate, and finally induced me to take advantage of the confidence reposed in me to abstract the securities which you lost. He had made all arrangements for my safe flight, accompanying me, of course. We went to Montreal first, but this is so apt to be the refuge of defaulters that we finally came to the small village from which I address these lines.

There was a considerable sum of money which we spent, also five hundred dollars in government bonds on which we realized. The other securities we have not as yet been able to negotiate. I have proposed to Bowman to restore them to you by express, and trust to your kindness to spare us a criminal prosecution, and enable us to return to the States, for which I have a homesick longing. But he laughs the idea to scorn, and has managed to spirit away the bonds and conceal them in some place unknown to me. Of course this makes me entirely dependent upon him. To make matters worse, I have fallen sick with rheumatism, and am physically helpless.

If you could send here a confidential messenger who could ascertain the hiding-place of the bonds, I would thankfully consent to his taking them back to you, and I would make no conditions with you. If you felt that you could repose confidence in me once more. I would willingly return to your employment, and make arrangements to pay you by degrees the value of the money thus far expended by Bowman and myself. There are still thirteen thousand five hundred dollars' worth of securities left untouched in their original packages.

We are living in a small village called St. Victor, thirty miles from the American line. We occupy a small cottage rather out of the village, and go by our own names. Do not write to me, for the letter would be seen by Paul Bowman, and defeat my plans, but instruct your messenger to seek a private interview with me. I am detained at home by sickness at present, but Bowman is away most of the day. He is fond of hunting, and spends considerable of the day in the woods, while his evenings are spent at the inn, where there is a pool table. I have managed to send this to the post office by a small girl who comes here in the morning to make the bed and sweep. Hoping earnestly that this communication may reach you, I sign myself

Fred read this letter with great interest. "He seems to write in good faith," he said, as he handed it back.

"Yes; Sinclair is not so wicked as weak. I quite believe him when he says that it was Bowman who instigated him to the deed."

"Do you think there is any chance of recovering the securities?" asked Fred.

"That depends upon whether I can secure a discreet and trustworthy messenger."

"Yes, sir; I suppose that is important."

"Perhaps you can suggest some one?" said the broker, eying Fred attentively.

Fred shook his head.

"I have too few acquaintances to think of anyone who would be fit," he answered.

"Would you undertake it yourself?" asked Mr. Wainwright.

"I?" stammered Fred in genuine surprise.

"Yes."

"But don't you think I am too young?"

"Perhaps your youth may be a recommendation."

"I don't see how, sir."

"By drawing away suspicion from you. Should I send a man, the appearance of a stranger in a small place like St. Victor—I think it has little more than a thousand inhabitants—would very likely excite the suspicions of this Bowman, and so defeat the chances of success."

"Yes, sir, I see that."

"Of course your youth presents this objection—that you may not have the requisite judgment and knowledge of the world for so delicate a mission."

"That is what I am afraid of, sir."

"Still, I have observed you closely, and have found you prompt, self-reliant, and possessed of unusual good sense. So, upon the whole, having no other person in my mind, I have decided to send you to St. Victor if you will consent to go."

"I will certainly go, sir, if you desire it, and will do my best to succeed."

"That is all that any one could do, whatever might be his age and experience. When will you be ready?"

"To-morrow, if you wish it, sir."

"The sooner the better. I shall provide you with ample funds to defray your expenses. As to instructions, I have none to give. You must be guided by circumstances, and fall back in times of perplexity upon your natural shrewdness. Now let us address ourselves to the dinner."