"Those bills and acceptances you hold with Alfred's name to them, and a full quittance from you to him for all money directly or indirectly advanced to him by you and Con Staveley. We know almost to a sovereign what they amount to. You have a list in your pocket. I also have a list from Con Staveley."

"What if I refuse?"

Felix smiles.

"Why, then, I suppose, we must be quixotic enough to pay to Mr. Sheldrake such of those bills as bear his name. Those bearing Mr. Staveley's name we should be able to settle with that gentleman direct. We should pay your bills under protest."

"We pay!" interrupted Mr. Sheldrake incredulously.

"Well, say instead that I pay. I am able, I assure you; and I assure you also that I am able to prove how many of the cheques bearing Mr. Sheldrake's name for which bills were given came back to Mr. Sheldrake through Mr. Staveley, and never passed through the bank. Here is a suspicion of fraud, which it might be worth while to prosecute. But we should not want it, I believe. We shall be able to keep Alfred's name out of the proceedings. The other cases we have against you are, in my detective friend's opinion, amply sufficient. And be sure of this"--and here Felix's voice grew stern--"that unless the terms I have stated are accepted by you, I will make the name of Sheldrake famous in criminal records, and will so gibbet you in public opinion that your very friends and acquaintances shall think it prudent to know you no more. Excuse me for using strong language; all that passes is without prejudice, and we are here in private conference."

His earnestness and determined manner carry conviction with them. Mr. Sheldrake does not hesitate.

"And if I give you those bills, and the quittance, as you desire—"

"We wash our hands of you."

"You will give me back those documents and letters--you dog, you!" with a dark look at Mr. Musgrave--"which you say you have?"