I cleared my throat.

“‘One: All the evidence points to Lowen having been the man who forced the safe.

“‘Two: He had a grudge against Davenheim.

“‘Three: He lied in his first statement that he had never left the study.

“‘Four: If you accept Billy Kellett’s story as true, Lowen is unmistakably implicated.’”

I paused. “Well?” I asked, for I felt that I had put my finger on all the vital facts.

Poirot looked at me pityingly, shaking his head very gently. “Mon pauvre ami! But it is that you have not the gift! The important detail, you appreciate him never! Also, your reasoning is false.”

“How?”

“Let me take your four points.

“One: Mr. Lowen could not possibly know that he would have the chance to open the safe. He came for a business interview. He could not know beforehand that Mr. Davenheim would be absent posting a letter, and that he would consequently be alone in the study!”