“Now, what is it, Mr. Norton?” he asked cheerfully.

“It's about the directors' statement,” said John with a troubled air.

“Well?” his companion interrogated, while he bent upon the young man a shrewd glance. He wondered if the bookkeeper had been purloining the funds of the company.

“I have just come from Mr. Haviland,” John explained. “I want to resign. He expects me to make up the statement without going over the securities. He has offered me fifteen thousand dollars for the kind of a statement he wants.”

He paused uncertainly, and then went on hurriedly: “Last week securities to the value of thirty thousand dollars, which I supposed were in the safe and which should have been there, were returned from a broker's office. Mr. Haviland has been speculating. I have known this for some time, but I did not know that it was with the funds of the company until these securities were handed me by mistake.”

“You are quite sure of what you say, Norton?” the director asked. “These are very grave charges you are making.”

“I am quite sure, Mr. Bliss. I suppose he expects to return every dollar he has taken,” John added. It was a comfort to be able to say a good word for Haviland.

“No doubt,—every man who speculates with money not his own intends to do that. Haviland will be called on to make good within twenty-four hours, and if he can't—why—” The pause was eloquent. He was silent for a moment; then he said: “Tell me as nearly as you can just what passed between you to-night.”

Slowly and carefully John gave the substance of his interview with Haviland, while Mr. Bliss watched him narrowly.

“And you want to resign, Norton?” he asked at length.