“I can’t explain it. You see, since Boothe has been away Eric has been free to do as he pleased. He’s in desperate need of money, just now; but, although I’ve been on the watch, not a single crooked transaction have I been able to discover—except one.”

“What was that?”

“I found on his desk yesterday a scrap of paper with my name scribbled over it in many styles of handwriting. Anyone seeing it would have thought I had been trying to create a lot of different signatures. I tore the paper in two, crumpled it up, and tossed it in the waste basket. But, afterward, I decided the thing ought to be burnt, and searched for the scraps. They weren’t among the other papers, for I went through the entire contents of the basket. Some one had taken them, and it could be no one but Eric.”

Phœbe looked grave at this.

“What does it mean, Phil?”

“I’ve tried to think. I know of two or three forged deposit slips, aside from that one of Mr. Martin’s. Then there was the forged check of Mrs. Randolph—I’m positive it was forged. These things are sure to be discovered some day, and then the charge of forgery and embezzlement will lie between Eric and me.”

“Oh, Phil!”

“As Eric is Mr. Spaythe’s own son it will be easy for him to accuse me. If I tell Mr. Spaythe what I know he will ask why I didn’t report it at the time. I’m in a net, Phœbe, and Eric knows it. If he can save himself at my expense, he won’t hesitate.”

“I see!” she cried, clasping her hands tightly. “Isn’t it dreadful, Phil?”

“That is why I now suspect that Eric is up to mischief. It surprised me that he told his father so bluntly he was going to St. Louis. It would be better policy for him to keep quiet about the trip; but he risked Mr. Spaythe’s anger with unusual boldness. And he took pains to advertise his going to the whole town—even to let people see him ride away in the train.”