"Yes, and naturally you objected to such a bold procedure, Jack, and determined to turn the tables on them; was that it?" asked the bank president, smiling broadly, as though he might be the happiest man in the country just then.

"Yes, sir," Jack made answer. "We set a little trap, and they tumbled into it. So we tied them up, as you see, though we tried not to treat the poor chaps too roughly while doing it, and have fed them as well as we could. I found that bag, and we expected to go ashore at Covington to turn the men and the property over to the right authorities. And seeing that it's yours, sir, will you please take it off my hands? I hope it's all there."

While the boats drifted down-stream Mr. Gregory, with trembling hands, opened the bag, and proceeded to hastily look over the papers. There were some thousands of dollars in bank notes tied up in packages; but he hardly gave these any attention, for the bonds represented the solvency of his bank.

"Good!" he presently cried, aloud; "I believe they're here, every one. I'm the happiest man going right now. And, Jack, shake hands with me, my boy. Your father will have cause to feel proud of you when I tell him how you've acquitted yourself."

"Don't forget Jimmie Brannagan, Mr. Gregory," said Jack. "He had as much to do with it as I did. Now, don't you say a single word against that, Jimmie, do you hear? And, Mr. Gregory, since you've got back everything, please go as easy as you can with these fellows. They're hardly more than boys, you see, and perhaps one more chance might be the making of either of them."

"That speaks well for your heart, Jack, although I'm afraid you're mistaken in the matter. But I promise you to get as light a sentence as I can for them. I ought to feel in a forgiving mood, for a terrible load has been taken off my mind this day, thanks to you boys."

"And how about that same reward we do be hearin' talk of, sir?" asked Jimmie.

"Jimmie!" exclaimed Jack, frowning; but Mr. Gregory only laughed.

"He's quite correct, Jack," he said promptly. "Jimmie knows his rights, and isn't afraid to press them. There was a reward offered for the capture of the thieves, and a larger one for the recovery of the stolen property. After you come back from this little excursion I want both of you to drop over and call on me. I'll have something for you worth while. Perhaps it may be an engrossed resolution of thanks from the directors of my bank; and possibly it may be something more."

So, after all, Jack did not set foot ashore at Covington when they arrived opposite the place. The two prisoners had been transferred to the police launch, with something more substantial in place of the cords that Jimmie had wound around their wrists; and after each of the officers had warmly shaken hands with the boys, Mr. Gregory gave them a last grip, when the larger boat was turned in toward the bank.