"Do try to listen carefully. You must return it to him and lead him to believe you brought it away from that room. Let him snatch it from you while you are threatening to denounce him; or give it him as the terms of a truce between you; anyhow you please. But mind, it must be done so that he is convinced no eyes but yours have seen it. That's vital."

The light was beginning to break through even my thick skull then.

"We have it here; our people found it exactly as you said."

"Then the murder is known?"

"Oh, yes; the police have it in hand by this time; but they know nothing about that ring. We sent two men to the place who are suspected of being in his pay; and they will be able to report to him that nothing of the sort was found on the spot. We have taken every precaution, of course. It has been photographed from a dozen different points and a replica is being made. I am waiting now for the impression of the mould."

"It has occurred to you, of course, that he may destroy it?" I suggested.

He shook his head. "There's no fear of that. For one thing he's much too proud of it; there isn't another exactly like it in all Europe, probably not in the whole world; for another, he looks on it as a sort of mascot; there's some kind of legend or other about it; and lastly, if you do your part well, he will feel he can keep it with absolute safety."

The scheme was subtle enough to be worthy even of von Gratzen, and it increased my dread of his almost diabolical cunning. "When will you make him account for it?"

"That depends. He's a vindictive devil and is sure to denounce you for the murder, the instant he thinks he can do it safely. The most effective moment to deal with him would be when we get him in the witness box, giving evidence against you. But we shall see."

"And when am I to be arrested?"