explained Mr. Lake, "and must have neglected to replace them."
"I hope you have not lost them," said Phil politely.
"Oh, no; my aunt will find them and take care of them for me, so that I shall get them back. The trouble is that I am left temporarily without funds."
"But you can get money in the city," suggested Phil.
"No doubt; only it is necessary for me to stay over a train ten miles short of the city."
Mr. Lionel Lake seemed very much perplexed.
"If I knew some one in the cars," he said reflectively.
It did occur to Phil to offer to loan him something, but the scantiness of his own resources warned him that it would not be prudent, so he remained silent.
Finally Mr. Lake appeared to have an idea.
"Have you got five dollars, Philip?" he said familiarly.
"Yes, sir," answered Philip slowly.
"Then I'll make a proposal. Lend it to me and I will give you this ring as security. It is worth twenty-five dollars easily.
He drew from his vest-pocket a neat gold ring, with some sort of a stone in the setting.
"There!" said Mr. Lake, "I'll give you this ring and my address, and you can bring it to my office to-morrow morning. I'll give you back the five dollars and one dollar for the accommodation. That's good interest, isn't it?"
"But I might keep the ring and sell it," suggested Phil.
"Oh, I am not afraid. You look honest. I will trust you," said the young man, in a careless, off- hand manner. "Say, is it a bargain?"
"Yes," answered Phil.
It occurred to him that he could not earn a dollar more easily. Besides, he would be doing a favor to this very polite young man.
"All right, then!"
Five dollars of Phil's scanty hoard was handed to Mr. Lake, who, in return, gave Phil the ring, which he put on his finger.
He also handed Phil a scrap of paper, on which he penciled:
"LIONEL LAKE, No. 237 Broadway."
"I'm ever so much obliged," he said. "Good-by. I get out at the next station."
Phil was congratulating himself on his good stroke of business, when the conductor entered the car, followed by a young lady. When they came to where Phil was seated, the young lady said:
"That is my ring on that boy's finger?"
"Aha! we've found the thief, then!" said the conductor. "Boy, give up the ring you stole from this young lady!"
As he spoke he placed his hand on Phil's shoulder.
"Stole!" repeated Phil, gasping. "I don't understand you."
"Oh, yes, you do!" said the conductor roughly.
CHAPTER V.
AN OVERBEARING CONDUCTOR
No matter how honest a boy may be, a sudden charge of theft is likely to make him look confused and guilty.
Such was the case with Phil.
"I assure you," he said earnestly, "that I did not steal this ring."
"Where did you get it, then?" demanded the conductor roughly.
He was one of those men who, in any position, will make themselves disagreeable. Moreover, he was a man who always thought ill of others, when there was any chance of doing so. In fact, he preferred to credit his fellows with bad qualities rather than with good.
"It was handed me by a young man who just left the car," said Phil.
"That's a likely story," sneered the conductor.
"Young men are not in the habit of giving valuable rings to strangers."
"He did not give it to me, I advanced him five dollars on it."
"What was the young man's name?" asked the conductor incredulously.
"There's his name and address," answered Phil, drawing from his pocket the paper handed him by Mr. Lake.
"Lionel Lake, 237 Broadway," repeated the conductor. "If there is any such person, which I very much doubt, you are probably a confederate of his."
"You have no right to say this," returned Phil indignantly.
"I haven't, haven't I?" snapped the conductor.
"Do you know what I am going to do with you?"
"If you wish me to return the ring to this young lady, I will do so, if she is positive it is hers."
"Yes, you must do that, but it won't get you out of trouble. I shall hand you over to a policeman as soon as we reach New York."
Phil was certainly dismayed, for he felt that it might be difficult for him to prove that he came honestly in possession of the ring.
"The fact is," added the conductor, "your story is too thin."
"Conductor," said a new voice, "you are doing the boy an injustice."
The speaker was an old man with gray hair, but of form still robust, though he was at least sixty five. He sat in the seat just behind Phil.
"Thank you, sir," said Phil gratefully.
"I understand my business," said the conductor impertinently, "and don't need any instructions from you."
"Young man," said the old gentleman, in a very dignified tone, "I have usually found officials of your class polite and gentlemanly, but you are an
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