When they came out through the French window, there was the pond with one tempting little hole in the ice, right in front of their noses. Could there be a better hiding-place?”

“Ah, a hiding-place --mdash; that is better!” cried Stanley Hopkins. “Yes, yes, I see it all now! It was early, there were folk upon the roads, they were afraid of being seen with the silver, so they sank it in the pond, intending to return for it when the coast was clear. Excellent, Mr. Holmes --mdash; that is better than your idea of a blind.”

“Quite so, you have got an admirable theory. I have no doubt that my own ideas were quite wild, but you must admit that they have ended in discovering the silver.”

“Yes, sir --mdash; yes. It was all your doing. But I have had a bad setback.”

“A setback?”

“Yes, Mr. Holmes. The Randall gang were arrested in New York this morning.”

“Dear me, Hopkins! That is certainly rather against your theory that they committed a murder in Kent last night.”

“It is fatal, Mr. Holmes --mdash; absolutely fatal. Still, there are other gangs of three besides the Randalls, or it may be some new gang of which the police have never heard.”

“Quite so, it is perfectly possible. What, are you off?”

“Yes, Mr. Holmes, there is no rest for me until I have got to the bottom of the business. I suppose you have no hint to give me?”

“I have given you one.”

Which?

“Well, I suggested a blind.”

But why, Mr. Holmes, why?”

“Ah, that’s the question, of course. But I commend the idea to your mind. You might possibly find that there was something in it. You won’t stop for dinner? Well, good-bye, and let us know how you get on.”

Dinner was over, and the table cleared before Holmes alluded to the matter again. He had lit his pipe and held his slippered feet to the cheerful blaze of the fire. Suddenly he looked at his watch.

“I expect developments, Watson.”

“When?”

“Now --mdash; within a few minutes. I dare say you thought I acted rather badly to Stanley Hopkins just now?”

“I trust your judgment.”

A very sensible reply, Watson. You must look at it this way: what I know is unofficial, what he knows is official. I have the right to private judgment, but he has none. He must disclose all, or he is a traitor to his service. In a doubtful case I would not put him in so painful a position, and so I reserve my information until my own mind is clear upon the matter.”

“But when will that be?”

The time has come. You will now be present at the last scene of a remarkable little drama.”

There was a sound upon the stairs, and our door was opened to admit as fine a specimen of manhood as ever passed through it. He was a very tall young man, golden-moustached, blue-eyed, with a skin which had been burned by tropical suns, and a springy step, which showed that the huge frame was as active as it was strong. He closed the door behind him, and then he stood with clenched hands and heaving breast, choking down some overmastering emotion.