Question

Why did the stranger not tell the ironmaster that he was not nils olof?

Answer 1

Although the peddler of rattraps had never seen the ironmaster at Ramsjo before and did not even know his name, he pretended to be who Nils Olof thought he was. It occurred to him that if a fine gentleman thought he was an old acquaintance then he might perhaps throw him a couple of kronor. Hence, he decided not to undeceive the ironmaster.
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Answer 2

Answer:

The stranger not tell the ironmaster that he was not Nils Olof as he thought that if the gentleman believed that he was an old friend or acquaintance of his, then he might take pity on him and help him by giving him some money.