“Never heard of Simpson?” ejaculated Sylvanus, arching his eyebrows. “Why, he’s the poor man’s friend; that is, they are, for there’s more than one of them. The particular Simpson I mean has an office half way down the Bowery.”

“Would he lend me something on my watch?”

“Of course he would. Let me look at it.”

Ben submitted the watch to Mr. Snodgrass for examination.

“That’s a good watch,” said the author. “It probably cost eighteen or twenty dollars. You could possibly get five dollars on it.”

“No more?”

“Yes, if you want to sell it; but you are only hocking it.”

“How long can I have to redeem it?”

“A year. The first six months you pay three per cent. a month interest.”

“Three per cent. a month!” ejaculated Ben in dismay.