"But the reasons are not good enough. I can't stop a man leaving this country anywhere round the coast except by going to the police."

"Can it be," I suggested, "that Samuel and Denson are working in collusion, and have perhaps insured the stones, and now want your help to make out a case of loss?"

"Scarcely that, I think, for more than one reason. First, it isn't a risk any insurer would take, in the circumstances. Next, the insurer would certainly want to know why the police were not informed at once. But there is more. I have not been idle this while, as you would know. I will tell you some of the things I have ascertained. To begin with, Samuel is known in Hatton Garden only as a dealer on a very small and peddling scale. A dabbler in commissions, in fact, rather than a buyer and seller of diamonds in quantities on his own account. His office is nothing but a desk in a small room he shares with two others—small dealers like himself. When I spoke to the people most likely to know, of his offering fifteen thousand pounds' worth of diamonds on his own account, they laughed. An investment of two or three hundred pounds in stones was about his limit, they said. Now that fact offers fresh suggestions, doesn't it?" Hewitt looked at me significantly.

"You mean," I said after a little consideration, "that Samuel may have been entrusted with the diamonds to sell by the real owner, and has made all these arrangements with Denson to get the gems for themselves and represent them as stolen?"

Hewitt nodded thoughtfully. "There's that possibility," he said. "Though even in that case the owner would certainly want to know why the police had not been told, and I don't know what satisfactory answer Samuel could make. And more, I find that no such robbery has been reported to any of the principal dealers in Hatton Garden to-day; and, so far as I can ascertain, none of them has entrusted Samuel with anything like so large a quantity of diamonds as he talks of—lately, at any rate."

"Isn't it possible that the diamonds are purely imaginary?" I suggested. "Mightn't there be some trick played on that basis? Perhaps a trick on the American customer—if there was one."

Hewitt was thoughtful. "There are many possibilities," he said, "which I must consider. The diamonds may even be stolen property to begin with; that would account for a great deal, though perhaps not all. But the whole thing is so oddly suspicious, that unless my client is willing to let me a great deal further into his confidence to-morrow morning I shall throw up the case."

"Did you direct any inquiries after Denson?"

"Of course; which brings me to the other things I have ascertained. He has not been here long—a few months. I cannot find that he has been doing any particular business all the time with anybody except Samuel. With him, however, he seems to have been very friendly. The housekeeper speaks of them as being 'very thick together.' The rooms are cheaply furnished, as you see. And here is another thing to consider. The housekeeper vows that he never left his glass box at the foot of the stairs from the time Samuel went upstairs first to the time when he came down again, vastly agitated, at a quarter-past one, and sent a message; and during all that time Denson never passed the box! And the main door is the only way out."

"But wasn't he there at all?"