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According to one legend, as a young man, Nicholas went to study in Alexandria and on one of his sea voyages from Myra to Alexandria, he is said to have saved the life of a sailor who fell from the ship's rigging during a storm. In a colourful version of this legend, Nicholas saved the man on his voyage back from Alexandria to Myra and, upon his arrival, took the sailor to the church. At that time, the previous bishop of the city had just died and the church fathers were instructed in a dream to choose for their next bishop, a "man who conquers"(Greek: nikei). While the saint was praying, the loose-lipped sailor went around telling how courageously he was saved by the man Nikei-Laos, upon which the church elders had no choice but to elect Nicholas as their new bishop. Another legend tells how a terrible famine struck the island and a malicious butcher lured three little children into his house, where he slaughtered and butchered them, placing their remains in a barrel to cure, planning to sell them off as ham. Saint Nicholas, visiting the region to care for the hungry, not only saw through the butcher's horrific crime but also resurrected the three boys from the barrel by his prayers. Another version of this story, possibly formed around the eleventh century, claims that the butcher's victims were instead three clerks who wished to stay the night. The man murdered them, and was advised by his wife to dispose of them by turning them into meat pies. The Saint saw through this and brought the men back to life. In his most famous exploit however, a poor man had three daughters but could not afford a proper dowry for them. This meant that they would remain unmarried and probably, in absence of any other possible employment would have to become prostitutes. Hearing of the poor man's plight, Nicholas decided to help him but being too modest to help the man in public, (or to save the man the humiliation of accepting charity), he went to his house under the cover of night and threw three purses (one for each daughter) filled with gold coins through the window opening into the man's house. One version has him throwing one purse for three consecutive nights. Another has him throw the purses over a period of three years, each time the night before one of the daughters comes "of age". Invariably, the third time the father lies in wait, trying to discover the identity of their benefactor. In one version the father confronts the saint, only to have Saint Nicholas say it is not him he should thank, but God alone. In another version, Nicholas learns of the poor man's plan and drops the third bag down the chimney instead; a variant holds that the daughter had washed her stockings that evening and hung them over the embers to dry, and that the bag of gold fell into the stocking. For his help to the poor, Nicholas is the patron saint of pawnbrokers; the three gold balls traditionally hung outside a pawnshop symbolize the three sacks of gold. People then began to suspect that he was behind a large number of other anonymous gifts to the poor, using the inheritance from his wealthy parents. After he died, people in the region continued to give to the poor anonymously, and such gifts were still often attributed to St. Nicholas. Source:http://en.wikipedia.org/wiki/Saint_Nicholas#Deeds_and_miracles_attributed_to_Saint_Nicholas

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