The woman said, "I'm sorry to trouble you, but I'm afraid I've lost my watch - do you happen to know the time?" The tramp was a little annoyed at being woken up again, but he politely told the woman that he didn't have a watch and didn't know the time.
After the woman had gone, the tramp had an idea.
He then hung the paper round his neck and eventually dropped off again.
After about 15 minutes, a policeman who was walking through the park noticed the tramp asleep on the bench, and the sign around his neck.
He woke the tramp up and said, "I read your sign. I thought you'd like to know that it's 2:30 p.m."
Tramp = Homeless person
Apologize = To make excuse for a fault or offense
Politely = Adv for Politely. Refine / Showing consideration for others
Contain = To have as component part
Possession = Noun for possess. To own something
Some sources from http://www.thefreedictionary.com