"What's that?" demanded Fred at last. "Whose is it? What is it doing on board the Black Growler?"

"It's a railway mortgage bond and given by one of the strongest railroads in the United States," said Grant, who had been looking carefully at the surprising discovery which his friend had made.

"Is it good for anything?" inquired John.

"Not much," laughed Grant. "Only five thousand dollars, that's all."

"Do you mean to tell me you could get five thousand dollars for that piece of paper?"

"Yes, sir, I think you could."

"Well, then," said John, "why don't we do it? It may be as good as money, as you say, but I think I'd rather see the cold cash. Where can we get the money?"

"It might take a little time to get it cashed, but almost any bank would pay it. It's not a registered bond and it looks as if it was all right every way."

"Yes, but whose is it?" said Fred. "That's what troubles me."

"I guess you won't have any trouble in finding out whose bond it is," laughed George. "Though I must confess I don't see how it came on board."