autiously up to the rear of the
building which was their objective. They had had only one alarm so far,
and this had been so easily disposed of that they had begun to feel
quite elated.

"This window gives access to the drawing-office, Dale, and ought to suit
us well. Give me a lift on to the sill, and hand up the tools."

In a surprisingly short space of time the window was forced open, and
Max clambered into the room. A whispered word, and Dale handed up the
bag and sprang quietly up after it.

"Heat No. 1 pulled off at a paddle," commented Dale exultingly.

"The door is open, as I expected," whispered Max, who was too intent
upon the work in hand to heed his friend's playfulness. "Now I will
light the lantern and we will go upstairs. The door of the manager's
room is sure to be locked, but we shall make short work of that."

As Max expected, the door was locked, but they had come provided with
tools for all eventualities, and in ten minutes the whole of the bottom
panels right up to the framework had been neatly sawn out in one piece.
Through the aperture the two lads crept, drawing the bag through after
them.

"Heat No. 2 won by a dozen lengths," cried Dale joyously.

The room was a fairly large one, and contained the manager's desk, a
really handsome piece of furniture which had been Max's father's, two or
three tables, bookcases, a screen, and a large and massive safe.

Max lost no time. Setting Dale to keep watch and ward at the window
which commanded a view of the entrance-gates, he placed the lantern on
the desk, so that its light fell upon the safe, and then advanced upon
it, key in hand. This was the crucial moment. Had Schenk appropriated
the money and securities committed to his charge, or were they still
there, awaiting the strange midnight visit from their rightful owner? It
was, indeed, a strong indictment of the methods of the invaders that the
legitimate owner should have to come by stealth at dead of night, while
the unfaithful steward could do as he listed in the broad glare of day.

Max's hand trembled, and the lock seemed to stick. Then the lever seemed
to jamb, until he feared that, after all, something had happened that
would balk him at the last moment. But it was only his momentary
nervousness, and the door swung ponderously open at last.

"Well, Max, how goes it?" enquired Dale excitedly, turning to watch his
friend as he explored the open safe.

"All's well, I think. It seems full