The Tupelo journal., 1910-07-08

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til Monday night, when Mr.. Bailey
had surrendered to the police, little
was known of his movements. Some
time after one on SATURDAY he had en-
tered the Western Union Office at
Cherry and White streets and had sent
two kilograms. He was at the Green
wood Country club on Saturday night,
and appeared unlike himself. 1t was
reported that he would be released
under enormous bond some time that
day, Tuesday.
The article closed by saying that
while the officers of the bank refused
to talk until the examiner had finished
his work, it was known that securities
aggregating a million and a quarter
were missing. Then there was a dia-
tribe on the possibility of such an
occurrence; on the folly of a one-man
bank, and of a board of directors that
met only to lunch together and to
listen to a brief report from the cash
Ter. and on the poor policy of a gov
eminent that arranges a three or four
day examination twice a year. The
mystery, it insinuated, had not been
cleared by the arrest Of the cashier.
Before now minor officials had been
used to cloak the misdeeds of men
higher up. Inseparable as the words
Speculation" and "peculation" have
grown to be, John Bailey was not
known to be in the stock market. His
only words, after his surrender, had
been: "Send for Mr.. Armstrong at
once" The telegraph message which
had finally reached the president of
the Traders bank, in an interior town
in California, had been responded to
by a telegram from DR.. Walker, the
young physician who was travelling
with the Armstrong family, saying
that Paul Armstrong was very i'll and
unable to travel.
That was how things stood that
Tuesday evening. The Traders bank
had suspended payment, and John
Bailey was under arrest, charged with
wrecking it; Paul Armstrong lay very
i'll in California, and his only son had
been murdered two days before. / sat
dazed and bewildered. The children's
money was gone; that was bad
enough, though I had plenty, if they
would let me share. But Gertrude's
grief vas beyond any power of mine
to comfort; the mar she had chosen
stood accused of a colossal embezzle-
ment-and eve worse. For in the in
slant that / sat there / seemed to see
the coils closing around John Bailey
as the murderer of Arnold Armstrong.
Gertrude lifted her head at last and
stared across the table at Halsey.
Why did he do it," she walled.
Couldn't you stop him, Halsey? 1t
was suicidal to go back"
Halsey was looking steadily through
the windows of the breakfast room,
but it was evident he saw nothing.
1T was the only thing to do, Trude,"
he said at last. "Aunt Ray, when !
found Jack at the Greenwood club last
Saturday night, he was frantic. l can
not talk until Jack tells me ], may, but
he is absolutely innocent of all this,
believe me. l thought, Trude and
thought, we were helping him, but it
was the wrong way. He came back.
Isn't that the act Of an innocent
MANI"
Then why did he leave at all?" l
asked, unconvinced. What innocent
man would u away from here at
three o'clock in the morning? Doesn't
it look rather as though he thought
it impossible to escape?"
Gertrude rose angrily. "You are not
even just" she famed. you don't
know anything about it, and you con.
denim him!"
Il know that we have all lost a
great deal of money!" / said. Il shall
believe Mr.. Bailey innocent the mo-
ment he is shown to be. You profess
to know the truth, but you cannot tell
me! What am I to Think"
Halsey leaned over and patted my
hand.
You must take US on faith" he
said. Jack Bailey hasn't a penny
that doesn't belong to him; the guilty
man will be. known in a day or So"
Il shall believe that when it is
proved" l said grimly. I'm the mean.
time, l take no one on faith. The In.
neses never do"
Gertrude, who had been standing
aloof at a window, turned suddenly.
"But when the bonds are offered for
sale, Halsey, won't the thief be de.
tected at once?"
Halsey turned with a superior
| smile.
1T wouldn't be done that way" he
said. They would be taken out OF
the vault by some one who had access
to it, and used as collateral for a loan
in another bank. 1t would be possible
to realize so per cent. of their face
value"
CTo BE C%oNTINUEDo
So