"Why, because—why Corcoran wouldn't—why should Corcoran give you a present like that?"

"The very words I said myself!"

"Do you mean to say it was Corcoran?"

"Well, it wasn't from Corcoran himself. But he had the buying of it. The watch came from the Corcoran kid and Midget, the dog."

"Oh!" Carl gasped, a wave of understanding flooding his face. "It was because of what you did that day. I'd almost forgotten."

"So had I. Corcoran thanked me up at the works some time afterward; you remember I told you about it. Well, I thought that was the end of the matter," Hal explained. "But evidently the Corcorans thought they wouldn't leave it there. So—" with a flourish he held up the gift.

"Oh, Hal, I think that was splendid of them," Mrs. McGregor declared. "You deserve it, too. Carl said you might have been killed that day."

"Nonsense! That's Carlie's yellow journalism. He told you a great yarn, I've no doubt. You ought to be on one of the daily papers, kid."

"But you did take an awful chance, you know you did," insisted Carl stoutly.

"Oh, you have to take a chance now and then to put a little spice into life. It was no great stunt I did," Hal protested. "I just happened to do it before anybody else did, that's all."