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THE STEEL HORSE.

home, and one adventure to our credit already. I hope if we have any more they will all turn out as well as this one has."

Having been shown to their seats in the Academy of Music, the boys devoted themselves to the business of the hour and forgot all about the sharper and his disappointment. Their quiet demeanor evidently excited the surprise of the gentleman in gray, and drew from him some remarks which were addressed to one who came in and took a seat beside him just as the entertainment was about to begin.

"Takes it most too cool, don't he?" said the man in gray. "You're quite sure that there's no mistake about it? Bear in mind that I haven't seen him since his last escapade two years ago, and he has had time to change a good deal since then."

"How in the world can there be any mistake about it?" asked the other, in reply. "Don't I see him every day, and oughtn't I to know him if anybody?"

The first speaker drew a photograph from the inside pocket of his coat and looked at it intently, now and then raising his eyes to com-