The chairman and secretary conferred together in an undertone. The directors whispered to each other. One or two looked suspiciously at the guard. I could see that my evidence remained unshaken, and that, like myself, they suspected some complicity between the guard and the defaulter.

"How far did you conduct that 4.15 express on the day in question, Somers?" asked the chairman.

"All through, sir," replied the guard; "from London to Crampton."

"How was it that you were not relieved at Clayborough? I thought there was always a change of guards at Clayborough."

"There used to be, sir, till the new regulations came in force last Midsummer; since when, the guards in charge of Express trains go the whole way through."

The chairman turned to the secretary.

"I think it would be as well," he said, "if we had the day-book to refer to upon this point."

Again the secretary touched the silver hand-bell, and desired the porter in attendance to summon Mr. Raikes. From a word or two dropped by another of the directors, I gathered that Mr. Raikes was one of the under-secretaries.

He came—a small, slight, sandy-haired, keen-eyed man, with an eager, nervous manner, and a forest of light beard and moustache. He just showed himself at the door of the board-room, and being requested to bring a certain day-book from a certain shelf in a certain room, bowed and vanished.

He was there such a moment, and the surprise of seeing him was so great and sudden, that it was not till the door had closed upon him that I found voice to speak. He was no sooner gone, however, than I sprang to my feet.