"Yes, sir, he will," replied Tom, feeling quite elated and forgetting the money he had in his pocket.

"Well, now you may tell him we are very satisfied with the way you have done your work, and when there is a chance of a rise you shall have it. But mind, my lad, you must be steady and careful, and not get yourself mixed up with bad company."

"Thank you, sir, I will be careful," replied Tom, thinking he would sit down and write to his father after he got home and tell him all about it.

He knew it would please father and mother too, better than any Christmas present he could send to them, and he had made up his mind to do as Mr. Phillips advised, and be more careful of the company he kept, when once he was out of his present difficulties.

By the time he had put his great-coat on, he had forgotten the money he had in his pocket, and went out with as light a heart as though he were still an honest lad. He had forgotten Jack and the races, and everything else but his father's delight when he got his letter. He knew exactly what would happen, his mother would go the day after it arrived to show it to his aunt and then to the rectory. His aunt was sewing-mistress at the village school, and she would be as proud as his mother when she heard how he was getting on in this great, splendid London.

THE STOLEN HALF-SOVEREIGN CHANGES HANDS.

The City was a very beautiful place to Tom just then, and he forgot that there was such a person as Jack, until he came suddenly upon him waiting at the corner of Moorgate Street.

He started and stepped back as he recognized him, and then came the recollection of the money he had in his pocket. "I didn't expect to see you, Jack," he faltered.

"And you don't seem killingly glad now you do see me," replied Jack in something of a huff at his cool reception. "I suppose you have forgotten all about that money again?" he added reproachfully.