"Well," said Raffles, "there's no harm in our hearing what sort of property it is, and where you think it's to be found."

The usurer leant forward in his chair; he had long been sitting in the one which at first he had seemed inclined to wield as a defensive weapon. We all drew together into a smaller triangle. And I found our visitor looking specially hard at me for the first time.

"I've seen you, too, before to-day," said he. "I thought I had, after you'd gone this morning, and when we met in the afternoon I made sure. It was at the Savoy when me and my wife were dining there and you gentlemen were at the next table." There was a crafty twinkle in his eye, but the natural allusion to the necklace was not made. "I suppose," he continued, "you are partners in—amusement? Otherwise I should insist on speaking to Mr. Raffles alone."

"Bunny and I are one," said Raffles airily.

"Though two to one—numerically speaking," remarked Levy, with a disparaging eye on me. "However, if you're both in the job, so much the more chance of bringing it off, I daresay. But you'll never 'ave to 'andle a lighter swag, gentlemen!"

"More jewellery?" inquired Raffles, as one thoroughly enjoying the joke.

"No—lighter than that—a letter!"

"One little letter?"

"That's all."

"Of your own writing, Mr. Levy?"