"Yes. I left the notes with him."
"And you wanted to raise some money on them?"
"Yes, that is what I wish."
"Then you'll be pleased to know that Mr. Sandford has anticipated you. I loaned him eight thousand dollars upon them this morning."
"Loaned him eight thousand dollars?"
"Certainly. Is it extraordinary that your agent has done what you desired?"
"I never asked him to borrow for me; and I never authorized him to transfer the notes."
"He hasn't transferred them; he has only pledged them."
"He couldn't pledge them; he had no legal right in them."
"But he has pledged them, and they are in my safe, subject to the repayment of the sum I loaned."