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 did not like to say it. This alarmed him so much that he begged him not to keep him in suspense; after a little hesitation Mr Hughes, thinking him now strong enough to stand it, broke the news as gently as he could that the whole of Ernest's money had disappeared.

The day after my return from Battersby I called on my solicitor, and was told that he had written to Pryer, requiring him to refund the monies for which he had given his I.O.U.'s. Pryer replied that he had given orders to his broker to close his operations, which unfortunately had resulted so far in heavy loss, and that the balance should be paid to my solicitor on the following settling day, then about a week distant. When the time came, we heard nothing from Pryer, and going to his lodgings found that he had left with his few effects on the very day after he had heard from us, and had not been seen since.

I had heard from Ernest the name of the broker who had been employed, and went at once to see him. He told me Pryer had closed all his accounts for cash on the day that Ernest had been sentenced, and had received £2315, which was all that remained of Ernest's original £5000. With this he had decamped, nor had we enough clue as to his whereabouts to be able to take any steps to recover the money. There was in fact nothing to be done but to consider the whole as lost. I may say here that neither I nor Ernest ever heard of Pryer again, nor have any idea what became of him.

This placed me in a difficult position. I knew, of course, that in a few years Ernest would have many times over as much money as he had lost, but I knew also that he did not know this, and feared that the supposed loss of all he had in the world might be more than he could stand when coupled with his other misfortunes.

The prison authorities had found Theobald's address from a letter in Ernest's pocket, and had communicated with him more than once concerning his son's illness, but Theobald had not written to me, and I supposed my godson to be in good health. He would be just twenty-four years old when he left prison, and if I followed out his aunt's instructions, would