"That is rather significant, isn't it?" suggested the reporter.
"Significant? What do you mean?" exclaimed Dunlap excitedly.
"I mean that Arbogast was a defaulter. What his system of defrauding the bank was, I do not yet know; but an examination of the books will no doubt reveal this; and I should advise you, Mr. Dunlap, to lose no time in having it made."
"But," argued Dunlap anxiously, "I tell you the books were examined last week."
"Yes; by Arbogast's accomplice."
"What, Chatham his accomplice?" exclaimed Dunlap faintly.
"Chatham was in the plot beyond a doubt," answered Sturgis. "So long as no one had access to his books except his accomplice Chatham, of course Arbogast felt secure. But when, yesterday, the announcement was made that after the beginning of the new year his books would pass to the custody of another man, he saw that the game was up."
The men had returned to the president's office.
"Those are his very words," continued the reporter; "those he telegraphed to Chatham yesterday, as you will see if you hold before that mirror this sheet of blotting paper which I found on Arbogast's desk."
Dunlap, with an unsteady hand, took the blotting paper; and, holding it before the glass, studied the reflection intently.