"'No;' he replied, 'suppose, during my absence, a thief should enter the house? You are confined to the bed by rheumatism. What resistance could you make?'

"'But that is very improbable,' I persisted.

"'I don't know about that. This is a lonely cottage, and might be entered at any time,' he rejoined.

"'Where are you going to put the bonds?' I asked uneasily,

"He evaded a reply, but promised to tell me when I recovered my health. I protested, for we were jointly concerned in the robbery, and half the proceeds belonged to me. At any rate, I had as much title to them as he. But the contest was not an equal one. Had I been a well man I would have forcibly prevented his carrying out his purpose, but what could I do, racked with pain as I was, and unable to sit up in bed? I was worse off then than I am now."

"So he carried off the bonds?"

"Yes, and I don't know where he carried them. You see, that complicates matters."

"I do see," answered Fred, perplexed, "and I don't see the way out of the difficulty. Have you any idea where he can have concealed the securities?"

"No."

"Do you think he would keep them in his room at the hotel? It is just across the hall from mine, on the second floor."