"You mean those bonds I took?"
"Exactly. So after a while Pongo gives it up and amscrays, muttering curses in his beard. But he isn't ready to quit altogether, so this morning he's back on watch, waiting to see if he can get a line on the lost boodle. And what does he see but a car containing yourself, the bloke who came out of the place last night, and me. We look as if we were going to pull up at the door, and then we suddenly whizz on and stop around the next corner. All very suspicious. Pongo curls his mustachios and lurks like anything. I hop out of the car, and you go on with it. Pongo has one awful moment while he wonders which way he ought to go and whether he can split himself in half, and then he decides to stick to me — (a) because I'm a new factor that might be worth investigating, (b) because I'm obviously going back to the scene of the crime and you aren't, and possibly (c) because he knows who you are and knows he can pick you up again if he wants to. Pongo sees me speak to the cop at the door and go in; presently I come out again, so he takes his chance and lets fry."
"But why?"
The Saint shrugged.
"Maybe he didn't like my face. Maybe he knew who I was and was scared things might get too hot if I was butting in. Maybe he'd already trailed you here and he'd only just made up his mind what to do about both of us, which would mean you're next on his list.
Maybe a lot of things. That's one of the questions we've got to find the answer to."
"But what's it all about?"
"It appears to be about seven thousand quid's worth of bearer bonds, which is enough reason for a good many things to happen. What I'd like to know is how a man who couldn't pay you a tenner collected all that mazuma. What sort of a job was he in?"
"He was with a firm of sherry importers in the City."
"Sherry!"