"We've got him," he said gleefully.

"I hope so," said Mr. Immelbern, more cautiously.

"I know what I'm talking about, Sid," said the Colonel stubbornly. "He's a serious young fellow, one of these conservative chaps like myself — but that's the best kind. None of this dashing around, keeping up with the times, going off like a firework and fizzling out like a pricked balloon. I'll bet you anything you like, in another hour he'll be looking around for a thousand pounds to give us to put on tomorrow's certainty. His kind starts slowly, but it goes a lot further than any of you fussy Smart Alecs."

Mr. Immelbern made a rude noise.

Simon Templar bought a Star at Devonshire House and turned without anxiety to the stop press. Greenfly had won the two o'clock at five to one.

As he strolled back towards Clarges Street he was smiling. It was a peculiarly ecstatic sort of smile; and as a matter of fact he had volunteered to go out and buy the paper, even though he knew what the result would be as certainly as Messrs. Uppingdon and Immelbern knew it, for the sole and sufficient reason that he wanted to give that smile the freedom of his face and let it walk around. To have been compelled to sit around any longer in Uppingdon's apartment and sustain the necessary mask of gravity and sober interest without a breathing spell would have sprained every muscle within six inches of his mouth.

"Hullo, Saint," said a familiar sleepy voice beside him.

A hand touched his arm, and he turned quickly to see a big baby-faced man in a bowler hat of unfashionable shape, whose jaws moved rhythmically like those of a ruminating cow.

"Hush," said the Saint. "Somebody might hear."

"Is there anybody left who doesn't know?" asked Chief Inspector Teal sardonically.