ved. In that
long period the Akrae Company made millions. But Elisha supposed it
to be bankrupt and worthless; because--well, to be frank, because his
brother wrote him to that effect."

He paused, fearful of the effect which this announcement might have upon
the girl. But she had guessed this part of her father's dishonor and was
prepared for it. She made no comment, and he continued.

"Now we come to the will. Your father, Caroline, was not a bad man at
heart. I knew him well, and I believe that may be said truthfully. He
realized what he had done, how he had defrauded the brother who had been
so kind to him, and he meant, he kept promising himself, to some day
repay the money he had taken. To insure that, he put that note with the
other papers of the Company. If he did repay, it could be destroyed. If
he did not, if he should die, it would be there to prove--what it did
prove. But always in his mind was the thought of you and Steve, the
children he loved. He had quarreled with his brother it is true; he had
cheated him, but restitution for that cheat he had provided. But
what would become of you, left--in case he died without making
restitution--penniless? He knew his brother, as I said; knew his
character, respected his honesty, and believed in his conscientiousness
and his big heart. So he made his will, and in it, as you know, he
appointed Elisha your guardian. He threw his children and their future
upon the mercy and generosity of the brother he had wronged. That is his
reason, as we surmise it, for making that will."

He paused again. Caroline did not speak for a moment. Then she asked:

"And no one knew--you or my uncle or anyone--of all this until last
March?"

"No. Graves had, with his usual care and patience, pieced together the
evidence and investigated until we were sure that a stockholder in the
Akrae Company existed and that all of your father's estate belonged
to him. Who that stockholder was we did not know until that day of the
meeting at our office. Then Captain Warren told us."

"But he did not know, either?"

"Not until then. He supposed his Akrae stock worthless, and had
practically forgotten it. When we told him of its value, of the note,
and of the missing shareholder, he knew, of course."

"What did he say?"

"Say? Caroline, he was the most distressed and conscience-stricken man
in the city. One would have thought he was the wrongdoer and not the
wronged. He would have gone straight