ert felt that he was fortunate in so soon running across this man and
decided that as long as Mr. Waldo remained in the hotel it was his
policy to remain also.

He did not see how he was to find out anything about the missing boy,
but resolved to watch and wait in the hope of obtaining a clew. He did
not wish to attract Mr. Waldo's suspicions, but took care to keep him in
view.

The next morning he observed Mr. Waldo in the reading room at the rear
of the hotel talking with another person--rather a pretentious-looking
man, with black whiskers and a jaunty air.

At the news stand he bought a copy of a morning paper and took a seat
sufficiently near to hear what was said.

Though Waldo and his companion spoke in low tones, neither was
apprehensive of being heard, as it was hardly to be presumed that any
one within hearing distance would feel an interest in what they had to
say.

"As I was saying"--this was the first sentence which Robert heard from
Mr. Waldo--"it is entirely uncertain when I shall derive any advantage
from my cousin's estate. During his life he holds it."

"How is his health?"

"I suppose he is well. In fact, I don't know but he is likely to live as
long as I do. There can't be more than five years' difference in our
ages."

"That is a discouraging outlook."

"I should say so! But there is one chance for me during his life."

"What is that?"

"He may be declared insane. In that case the management of the estate
would naturally be transferred to me as the direct heir."

"But is there any ground for assumption that he is insane?"

"Yes. Ever since his son's death he has acted in an eccentric way--made
a hermit of himself and withdrawn from society. You know grief brooded
over often terminates in insanity. Then there was his wife's terrible
death, which had a strange effect upon him.

"I did not understand that the boy died."

"Well, he disappeared. He is undoubtedly dead."

"It is his being out of the way that makes you the heir, is it not?"

"Of course," answered Waldo.

"Then all I can say is that it was mighty fortunate for you," said his
companion dryly.

"It hasn't done me any good yet and may not. These hermits are likely to
live long. Their habits are regular and they are not tempted to violate
the laws of health. I tell you, Mr. Thompson, it's a tantalizing thing
to be so near a large fortune and yet kept out of it."

"I suppose you pray for your cousin's death, then?"

"