By dint of actual meanness, he had laid up two hundred dollars, which he
now had in the savings-bank in the next village, and he could therefore
have bought one if he had chosen; but, like Gilpin,

"Though on pleasure bent, he had a frugal mind."

Now, however, there seemed a chance of getting a gold watch at a low
price. Nick reasoned rightly that at an auction it would go much below
its value, and it would be a good thing for him to buy it--even as an
investment--as he would probably have chances enough to trade it off at
a handsome profit.

"I shouldn't wonder if I could double my money on it," he reflected.

Accordingly, when the watch was put up, Nick eagerly bid two dollars.

Philip's lip curled when he heard this generous bid, and he heartily
hoped that this treasured possession of his dead father might not fall
into such hands.

Nick rather hoped that no one would bid against him, but in this he was
destined to be disappointed.

"Five dollars!" was next heard.

And this bid came from Mr. Dunbar, the father of his friend Frank.
Philip's eyes brightened up, for there was no one he would sooner see
the possessor of the watch than his kind friend.

Nick looked chopfallen when he heard this large increase on his original
bid, and hesitated to continue, but finally mustered up courage to say,
in a rather feeble tone:

"Five and a quarter."

"Five dollars and a quarter bid!" said the auctioneer. "Do I hear more?"

"Six dollars," said Mr. Dunbar quietly.

The bid was repeated, and the auctioneer waited for a higher one, but
Nick retired ignominiously from the contest.

He wasn't sure whether he could get much over six dollars for it
himself, and he foresaw that Mr. Dunbar intended to have it, even if it
cost considerable more.

"It's kinder hard on a feller," he complained to the man standing next
him. "What does Mr. Dunbar want of the watch? He's got one already."

"Perhaps he thinks it is a good bargain at the price."

"It's what I've been wantin' all along," said Nick. "He might have let
me have it."

"Why don't you bid more?"

"I wanted to get it cheap."

"And the auctioneer wants to get as much as he can for the articles, and
so do Philip's friends," This was a consideration which, of course, had
no weight with Nicholas. However, he had one comfort. He would bid on
the violin, and probably no one else would bid against it. He did not
see it, to be sure, but concluded, of course, that i