"No. Can it?" asked the other, his eyes full of eager anticipation.

"Yes. I suspected that it might, and on examining it closely saw how it could be done. With my knife-blade I removed the back, and found this."

He held up a paper. It was very thin, and seemed to be covered with printing, together with some writing.

"Oh! What is it?" gasped the little chap, staring at the document, which really seemed too large to have occupied so small a space in the locket.

"As far as I can make out, it represents stock to the extent of five hundred shares in the Consolidated Hecla Gold Mine. Bushels of just such stuff is printed every year, for the purpose of defrauding innocent people. Perhaps this was sold to your father for the same purpose, Jed," said Frank.

"Then you believe it ain't worth anything?" remarked the boy, with keen disappointment.

"I didn't say that. At the time, perhaps, it wasn't worth the paper it was printed on; but conditions may have changed. Possibly they have made a valuable strike at the mines of the Consolidated Hecla. The eagerness of your uncle to get possession of this document would seem to prove that."

"But how would he know this paper was in my locket?" went on the boy.

"That's something I can't say. He evidently found it out somehow or other, or he wouldn't have been so determined to get possession of the locket. Its value in dollars and cents wouldn't amount to much, you see. Now, as soon as I get back home I shall see Jerry's father, who is a banker, and he can tell us if there is any real value attached to this stock. If so, you are a lucky fellow, Jed."

"And I owe it all to you, Frank, you and the rest. How can I ever thank you for being so kind?" he cried, seizing the other's hand.