Ben was exceedingly modest and unassuming,
and it was this among other things that pleased Mrs. Hamilton.

Conrad continued to find his salary insufficient. He was still more
dissatisfied after an interview with one of his school companions, a
boy employed in a Wall Street broker's office.

He was just returning from an errand on which Mrs. Hamilton had sent
him, when he overtook Fred Lathrop on his way uptown.

The attention of Conrad was drawn to a heavy gold ring with a handsome
stone on Fred's finger.

"Where did you get that ring?" asked Conrad, who had himself a fancy
for rings.

"Bought it in Maiden Lane. How do you like it?"

"It is splendid. Do you mind telling me how much you paid?"

"I paid forty-five dollars. It's worth more."

"Forty-five dollars!" ejaculated Conrad. "Why, you must be a
millionaire. Where did you get so much money?"

"I didn't find it in the street," answered Fred jocularly.

"Can't you tell a feller? You didn't save it out of your wages, did
you?"

"My wages? I should say not. Why, I only get six dollars a week, and
have to pay car fare and lunches out of that."

"Then it isn't equal to my five dollars, for that is all clear. But,
all the same, I can't save anything."

"Nor I."

"Then how can you afford to buy forty-five dollar rings?"

"I don't mind telling you," said Fred. "I made the money by
speculating."

"Speculating!" repeated Conrad, still in the dark.

"Yes. I'll tell you all about it."

"Do! there's a good fellow."

"You see, I bought fifty Erie shares on a margin."

"How's that?"

"Why I got a broker to buy me fifty shares on a margin of one per
cent. He did it to oblige me. I hadn't any money to put up, but I
had done him one or two favors, and he did it out of good nature. As
the stock was on the rise, he didn't run much of a risk. Well, I
bought at 44 and sold at 45 1-4. So I made fifty dollars over and
above the commission. I tell you I felt good when the broker paid me
over five ten-dollar bills."

"I should think you would."

"I was afraid I'd spend the money foolishly, so I went right off and
bought this ring. I can sell it for what I gave any time."

Conrad's cupidity was greatly excited by this remarkable luck of
Fred's.

"That seems an easy way of making money," he said. "Do you think I
could try it?"

"Anybody can do it if he's got the money to plank down for a margin."

"I don't think I quite understand."