"He had a small valise, about the size of this," said Fred, his eyes resting on the satchel which Lawrence had brought from the Clifton, and thrown down carelessly. "Why," continued Fred, in excitement, "this is his valise. I recognize it by a dark spot on the side." "What do you mean?" said Lawrence sharply. "This is my valise." He took it in his hand, and uttered an ejaculation. "The boy is right! This is not my valise." "Do you mean to say this valise belongs to the man who roomed with you last night?" demanded die detective. "Yes, I feel sure of it." "Then--good Heavens!--it no doubt contains the property stolen from my uncle. Mr. Ferguson, shall we be justified in opening it?" "I will take the responsibility," said the detective. He took from his pocket a bent wire, and dexterously inserting it in the lock opened the valise. All gathered eagerly about it, anxious to ascertain whether their suspicions were correct. There were a few articles of underwear, which the detective took out hastily and laid upon the bed. "Ha, here we have it!" he exclaimed triumphantly as he drew out two long envelopes, such as are employed for bonds and securities. "I will take the liberty to open them." One envelope proved to contain two one thousand dollar railroad bonds. The other contained two U. S. Government bonds of five hundred dollars each, and miscellaneous securities all together amounting to three thousand dollars more. "A very clever capture on my word!" said Ferguson. "Really, Mr. Lawrence, you have beaten me in my own line." "I am entitled to no credit. It belongs to the boy who identified the valise. I assure you the wrong bag was given me at the Clifton most fortunately. I am content to lose the few articles which my own contained for the sake of recovering my uncle's property. It really seems like an interposition of Providence." "I suspect the thief will feel very ill-satisfied with the exchange. I wonder what he will do about it." There was little chance for speculation on this point. There was a knock at the door, and a hall boy put in his head. "There is a gentleman below who wishes to see you, Mr. Lawrence," he said. "Here is his card." Mr. Lawrence took from his hand a card on which had been written the name F. GRANT PALMER. "That is the man, Mr. Lawrence," exclaimed Fred in excitement. "He has come for his valise." "Bring Mr. Palmer up in about five minutes," said Lawrence; "not sooner." "All right, sir!" "Now let us repack the valise," said the detective. "I always carry a large bunch of keys with me, and shall probably find one that will relock it." The shirts, socks, and other articles which had been taken from the bag were carefully replaced, and Ferguson, as he had thought probable, found a key which fitted the lock. Then the valise was laid carefully on the sofa. "Mr. Palmer must not see us, and particularly the train-boy," said the detective, "or he will think something is up. Where can you conceal us?"