amazement appeared on the
faces of all on board.

"What's that?" demanded Fred at last. "Whose is it? What is it doing on
board the Black Growler?"

"It's a railway mortgage bond and given by one of the strongest
railroads in the United States," said Grant, who had been looking
carefully at the surprising discovery which his friend had made.

"Is it good for anything?" inquired John.

"Not much," laughed Grant. "Only five thousand dollars, that's all."

"Do you mean to tell me you could get five thousand dollars for that
piece of paper?"

"Yes, sir, I think you could."

"Well, then," said John, "why don't we do it? It may be as good as
money, as you say, but I think I'd rather see the cold cash. Where can
we get the money?"

"It might take a little time to get it cashed, but almost any bank
would pay it. It's not a registered bond and it looks as if it was all
right every way."

"Yes, but whose is it?" said Fred. "That's what troubles me."

"I guess you won't have any trouble in finding out whose bond it is,"
laughed George. "Though I must confess I don't see how it came on
board."

"Neither do I," said Fred slowly. "It must have been here some time."

"Yes," said John dryly. "I guess this is the first time we have turned
over or shaken out the cushions."

"'We' have shaken out, is good," retorted Fred. "I was doing this
little job all myself. There wasn't a fellow who offered to lend a
hand. But what shall I do with the thing?" he added.

"Put it in your pocket now," said Grant, "and wait until we have had
our luncheon. We can talk it over while we are at the table and decide
what is the best thing to do."

Grant's advice was followed. Fred thrust the bond into the envelope and
then placed the package in the inner pocket of his jacket.

Throughout their meal the discovery of the bond was the chief topic of
conversation. The mystery of its presence on board the Black Growler as
well as that of its ownership again and again were talked over, but no
satisfactory conclusion had been obtained when at last the boys
departed from the hotel.

"I'll tell you what we'll do, fellows," said Grant. "Let's take that
bond down to the bank. There must be one or two banks here and we can
find out about it and leave it there, if it is thought best. It may be
that we shan't want to be found with the goods on us a little later."

"That's all right, Soc," said Fred, who was more nervous than any of
the boys concerni