t you see it's Phil's handwriting--but it isn't PHIL!"

"But have you any idea WHO it is?" said Stacy.

"Not me," said Barker, with widely opened eyes. "You see it must be
somebody whom we are familiar with. I can't imagine such a scoundrel."

"How did YOU know that Demorest had stock?" asked Stacy.

"He told me in one of his letters and advised me to go into it. But just
then Kitty wanted money, I think, and I didn't go in."

"I remember it," struck in Demorest. "But surely it was no secret. My
name would be on the transfer books for any one to see."

"Not so," said Stacy quickly. "You were one of the original
shareholders; there was no transfer, and the books as well as the shares
of the company were in my hands."

"And your clerks?" added Demorest.

Stacy was silent. After a pause he asked, "Did anybody ever see that
letter, Barker?"

"No one but myself and Kitty."

"And would she be likely to talk of it?" continued Stacy.

"Of course not. Why should she? Whom could she talk to?" Yet he stopped
suddenly, and then with his characteristic reaction added, with a laugh,
"Why no, certainly not."

"Of course, everybody knew that you had bought the shares at
Sacramento?"

"Yes. Why, you know I told you the Van Loo clerks came to me and wanted
to take it off my hands."

"Yes, I remember; the Van Loo clerks; they knew it, of course," said
Stacy with a grim smile. "Well, boys," he said, with sudden alacrity,
"I'm going to turn in, for by sun-up to-morrow I must be on my way to
catch the first train at the Divide for 'Frisco. We'll hunt this thing
down together, for I reckon we're all concerned in it," he added,
looking at the others, "and once more we're partners as in the old
times. Let us even say that I've given Barker's signal or password," he
added, with a laugh, "and we'll stick together. Barker boy," he went on,
grasping his younger partner's hand, "your instinct has saved us this
time; d----d if I don't sometimes think it better than any other man's
sabe; only," he dropped his voice slightly, "I wish you had it in other
things than FINANCE. Phil, I've a word to say to you alone before I go.
I may want you to follow me."

"But what can I do?" said Barker eagerly. "You're not going to leave me
out."

"You've done quite enough for us, old man," said Stacy, laying his hand
on Barker's shoulder. "And it may be for US to do something for YOU.
Trot off to bed now, like a good boy. I'll keep you posted when