Peace had just that laxity of moral nature which would have made him a thoroughly unscrupulous instrument in the hands of a lawless power.

But he lacked the golden opportunity, and became instead a desperate criminal.

The arrest, trial, and conviction of Cooney and his confederate had no other effect upon Peace than causing him to give up all idea of remaining longer in “Sanderson’s Hotel.”

He had narrowly escaped recognition. At present he stood well with Mr. Wrench, and naturally enough he had no desire for the astute detective to be enlightened as to his antecedents or real character.

It was therefore necessary for him to be cautious.

He had a large amount of material connected with his business, consisting chiefly of frames, prints and tools, which had been packed up, and were still at the goods department at the London station, and he had still many commissions to execute.

He took two unfurnished rooms in the neighbourhood of Leather-lane, Holborn, and had his stock-in-trade removed to his new lodgings.

One room he proposed using as a workshop, the other he could make occasional rise of as a dormitory.

His newly found friend, Kempshead, had left London upon a tour to some of the leading towns in the capacity of a commercial traveller; he had, therefore nothing to regret in leaving Sanderson’s, so he paid his bill, and moved to his new quarters.

He had thoughts of returning to his native town, Sheffield, but as yet London had many allurements for him, and he was loth to leave it.