& Cohn's offices, but the rent is high--$5,000 a
year. They ask $3,000 for the furniture as it stands."

"Take both for Halsey & Company," said Fred. "Pay one year in advance.
I'll give you a check for $8,000," and he did.

"I'll have the lease for you this afternoon," said the old man.

Bob and Fred then went off to engage a sign painter to put up their firm
name in big gold letters on the immense plate glass front of the
offices.

The next day they found their name

"HALSEY & COMPANY,
"Bankers,
"Speculators in Stocks, Bonds, etc."

in big gold letters, the handsomest on the street. Mr. Allison, the man
who had kept the books for Risley & Cohn for fifteen years, had been
engaged for them by Bowles, who told him they were a couple of boys. He
was elderly, bald, with a full, round face known to every broker in Wall
Street. His knowledge of Wall Street was thorough.

"It will create a sensation when it is known who Halsey & Company are,"
he remarked to them, as they watched the people admire the sign as they
went by.

"Yes, I guess so. We'll have some fun with 'em. But see here, Mr.
Allison, we are no fools if we haven't got any beards. We want you to
manage the banking end of this thing, and stand ready to collar us when
you see us going wrong. Do you understand?" and Fred faced him as he
spoke.

The old man looked over his glasses at him for a few moments as if
surprised at what he had just heard.

"Well, that shows you have good, old-fashioned horse sense, young man,"
he replied. "Most boys of your age think they know it all, and have to
pay dearly for lessons they might have had free."

Just then Broker Tracey came by and stopped to look at the new firm name
on the glass front. Fred went to the door and invited him in. Tracey
looked at him in astonishment and then at the sign again.

"How do you like our new quarters?" Fred asked him.

"Whose quarters?"

"Halsey & Company--Fred Halsey and Bob Newcombe--we are the firm. Mr.
Allison here is our manager."

Tracey glanced at Allison, whom he had known for years, and the old man
said:

"It is true, Sir."

"Got any capital?" Tracey asked.

"Plenty of it," replied Allison.

He turned on Fred and asked:

"What has happened? Where did you get it?"

"What some people lose others gain," Fred replied. "I got a good deal of
fleece out of M. & C. the other day. Did you lose any wool?"

Tracey's face was a picture to look a