to think of a gold watch. Till then, your silver
watch will do."

Harold took a different view of the matter, and his desire for a gold
watch had greatly increased since a school friend about his own age
had one. For this reason he was considerably excited by the chance
that seems to present itself.

"You are sure the watch is a valuable one?" he asked.

"Yes; I have seen it myself."

"Then why don't you buy the ticket yourself?"

"I haven't the money. If I had, I wouldn't let anybody else have it."

"Let me see the ticket."

The other produced it from his vest pocket, but, of course, this threw
no light upon the quality of the watch.

"I can secure the watch, and have nearly five dollars left," thought
Harold. "It is surely worth double the price it will cost me, and then
I shall have something to show for my money."

On the other hand, his possession of the watch would excite surprise
at home, and he would be called upon to explain how he obtained it.
This, however, did not trouble Harold.

"I've a great mind to take it," he said, slowly.

"You can't do any better. To tell the truth, I hate to let it go, but
I don't see any prospect of my being able to get it out myself, and my
friend needs the money."

Harold hesitated a moment, then yielded to the inducement offered.

"Give me the ticket," he said. "Here is the money."

As he spoke, he produced a ten-dollar bill. In return, the ticket was
handed to him.

The pawnbroker, whose name was found on the ticket, was located less
than fifteen minutes walk from the billiard saloon. Harold, eager to
secure the watch, went directly there.

"Well, young man, what can I do for you?" asked a small man, with
wrinkled face and blinking eyes.

"I want to redeem my watch. Here is the ticket."

The old man glanced at the ticket, then went to a safe, and took out
the watch. Here were kept the articles of small bulk and large value.

Harold took out fifteen dollars which he had put in his vest pocket
for the purpose, and tendered them to the pawnbroker.

"I want a dollar and a half more," said the old man.

"What for?" asked Harold, in surprise.

"One month's interest. You don't think I do business for nothing, do
you?"

"Isn't that high?" asked Harold, and not without reason.

"It's our regular charge, young man. Ten per cent a month--that's what
we all charge."

This statement was correct. Though the New York pawnbroker is allowed
to charge but three p