“So you have put up here,” he said. “Well, it is a good place. And is this gentleman a friend of yours?” indicating the man in the white hat.

“I bought the watch from him.”

“Ha! I thought so. I see you know me, Steve Ashton.”

“Yes, sir,” answered Ashton, nervously. “I hope you are well.”

“You are very kind. Then you really hope I am well?”

“Of course. Why shouldn't I?”

“Well, there are some of your companions, I hear, who are not so cordial—Jim Beckwith, for instance. By the way, you have some business arrangements with Jim Beckwith?”

“I know him, sir,” answered Astern, hesitatingly. “You know him well, I suspect. So you sold my young friend here a watch?”

“Yes, sir.”

“At a remarkable sacrifice?”