"Miss Sanderson was very popular in a certain rather flashy set in Chicago. But her folks were bounders. They lived right up to the limit, just as Dawson did, in my opinion. Oh, you can be sure that if a proposition like this were put up to her she'd take a chance to get away with it. She runs no risks. She didn't do it anyhow, and as for her part, after the fact, why, a woman is always pretty safe - more sinned against than sinning, and all that. It's a queer sort of honeymoon, hey?"

"Have you any copies of the forged certificates?" asked Craig.

"Yes, plenty of them. Since the story has been told in print they have been pouring in. Here are several."

He pulled several finely engraved certificates from his pocket and
Kennedy scrutinised them minutely.

"I may keep these to study at my leisure?" he asked.

Certainly," replied Carroll, "and if you want any more I can wire to Chicago for them."

"No, these will be sufficient for the present, thank you," said Craig. "I shall keep in touch with you and let you know the moment anything develops.

Our ride uptown to the laboratory was completed in silence which I did not interrupt, for I could see that Kennedy was thinking out a course of action. The quick pace at which he crossed the campus to the Chemistry Building told me that he had decided on something.

In the laboratory Craig hastily wrote a note, opened a drawer of his desk, and selected one from a bunch of special envelopes which he seemed to be saving for some purpose. He sealed it with some care, and gave it to me to post immediately. It was addressed to Dawson at the Hotel Amsterdam. On my return I found him deeply engrossed in the examination of the forged shares of stock. Having talked with him more or less in the past about handwriting I did not have to be told that he was using a microscope to discover any erasures and that photography both direct and by transmitted light might show something.

"I can't see anything wrong with these documents," he remarked at length. "They show no erasures or alterations. On their face they look as good as the real article. Even if they are tracings they are remarkably line work. It certainly is a fact, however, that they superimpose. They might all have been made from the same pair of signatures of the president and treasurer.