When Grant, with some difficulty, understood what was the charge against him, he was almost speechless with indignation.

"Do you mean to say I stole your bonds?" he demanded.

"Yes, I do; and it was a base, cruel act."

"I agree with you in that, Mrs. Estabrook. It was base and cruel, but I had nothing to do with it."

"You dare to say that, when you brought the bonds to my son, Willis, to be sold to-day?"

"Is this true, Grant?" asked Mr. Reynolds. "Did you sell any bonds at the office to-day?"

"Yes, sir."

The broker looked grave.

"Where did you get them?" he asked.

"They were handed to me by an acquaintance in Wall Street."

"Who was he?"

"His name is James Morrison."

"What do you know of him? Is he in any business?"

"I know very little of him, sir."

"Have you handed him the money?"

"No, sir. I am to meet him to-morrow morning at the Fifth Avenue Hotel, and pay him."

"Why doesn't he call at the office?"

"I don't know," answered Grant, puzzled. "I suggested to him to bring the bonds to the office himself, but he said he was in haste, and offered me a dollar to attend to the matter."

"This seems a mysterious case."

"Excuse me, Mr. Reynolds, but I think it is plain enough," said the housekeeper, spitefully. "That boy opened my bureau drawer, and stole the bonds."

"That is not true, Mr. Reynolds," exclaimed Grant, indignantly.

"How did you know the bonds were offered for sale at my office to-day, Mrs. Estabrook?" inquired the broker.

"My son--Willis Ford--told me."

"When did you see him?"

"Just now."

"Is he in the house?"

"Yes, sir. I left him in my room."

"Ask him to be kind enough to accompany you here."

The housekeeper left the room. Grant and his employer remained silent during her absence.

CHAPTER XVII -- THE TELLTALE KEY

Willis Ford entered the presence of his employer with an air of confidence which he did not feel. Knowing his own guilt, he felt ill at ease and nervous; but the crisis had come and he must meet it.

"Take a seat, Mr. Ford," said Mr. Reynolds, gravely. "Your stepmother tells me that she has lost some government bonds?"

"All I had in the world," moaned the housekeeper.

"Yes, sir; I regret to say that she has been robbed."

"I learn, moreover, that a part of the bonds were brought to my office for sale to-day?"

"Yes, sir."

"And by Grant Thornton?"

"He can answer that question for himself, sir. He is present."

"It is true," said Grant, quietly.

"Did you ask him where the bonds came from?"

"He volunteered the information. He said they were intrusted to him for sale by a friend."

"Acquaintance," corrected Grant.

"It may have been so. I understood him to say friend."

"You had no suspicions that anything was wrong?" asked the broker.

"No; I felt perfect confidence in the boy."

Grant was rather surprised to hear this. If this were the case, Willis Ford had always been very successful, in concealing his real sentiments.

"How did you pay him?"

"In a check to his own order."