ive under pressure."

In spite of Kendrick's efforts at conversation on the way over, it was
plain that his guest was ill at ease; but it was not until they were
comfortably seated in the library that he undertook to relieve the
bookkeeper's anxiety to know what was in his mind.

"I think perhaps your appetite will be improved, Jimmy, if we talk
before we eat," smiled Phil. He offered his cigarette-case. "There is
no reason why you and I should not be good friends."

Having first satisfied himself that there was no doubt whatever of
young Stiles' loyalty to Nathaniel Lawson, he proceeded to recount
briefly the events which had led up to his discovery of the real
identity of Miss Margaret Williams. The extent of Kendrick's evident
knowledge startled Stiles, if his nervousness was any criterion.

"Miss Lawson was masquerading in Ferguson's office for some reason. I
caught her listening at the keyhole while Podmore was interviewing
Ferguson day before yesterday. You might begin by explaining why she
should report all this to you, Stiles, and why you tried to follow me
last night after I left Mr. Lawson. I know that Miss Lawson is a
valued member of the _Recorder_ staff. Now, what about it?"

"She's doin' some special stunt for the paper," Stiles nodded after a
little hesitation. "We've been good friends for quite a while, but
there aint no reason why she should tell me all she knows, is there?
She came to me yesterday an' asked me to keep an eye on your movements
for a bit. She said you were workin' with Podmore an' that you an' him
had swiped some envelope from Mr. Wade, the railroad president, and
hidden it."

"That's what comes of listening at keyholes. Go on."

"That's all, Mr. Kendrick. She was kind of worried over you callin' on
her father an' give me Hail Columbia for losin' sight of you last night
after she'd gone to the trouble of pointin' you out to me. But I aint
no dime novel detective!"

"Why should she be interested in my movements?"

"Search me!"

"Why did those two fellows jump on you last night? Don't say they were
after your watch. Tell me the truth."

"Well, you seen how they was watchin' me at the office to-day, didn't
you? I've been watched like that ever since----" Stiles stopped short
in some confusion.

"Ever since the theft of the satchel containing fifty thousand
dollars," prompted Kendrick. "I know all about that. It's all right.
Go on."

But for a moment Stiles