The cablegram was from the Chief of Police, New York City.

“Answering your inquiry. Saul Morris is alive, and is believed to be in England at this moment. No charges pending against him here, but generally supposed to be the man who cleared out strong room of ss. Mantania, February 17, 1898, Southampton, England, and got away with 55,000,000 francs. Acknowledge.”

Elk read and re-read the cablegram, then he folded it carefully, put it back in its envelope and passed it across the table.

“Saul Morris is in England,” he said mechanically. “That seems to explain a whole lot.”

The search which detectives had conducted at the railway termini had produced nine bags, all of which contained identical outfits. In every case there was a spare suit, a clean shirt, two collars, one tie, a Browning pistol with cartridges, a forged passport without photograph, the Annatio and money. Only in one respect did the grips differ. At Paddington the police had recovered one which was a little larger than its fellows, all of which were of the same pattern and size. This held the same outfit as the remainder, with the exception that, in addition, there was a thick pad of cheque forms, every cheque representing a different branch of a different bank. There were cheques upon the Credit Lyonnais, upon the Ninth National Bank of New York, upon the Burrowstown Trust, upon the Bank of Spain, the Banks of Italy and Roumania, in addition to about fifty branches of the five principal banks of England. Occupied as he had been, Elk had not had time to make a very close inspection, but in the morning he determined to deal seriously with the cheques. He was satisfied that inquiries made at the banks and branches would reveal different depositors; but the numbers might enable him to bring the ownership home to one man or one group of men.

As the bags were brought in, they had been examined superficially and placed in Elk’s safe, and to accommodate them, the ordinary contents of the safe had been taken out and placed in other repositories. Each bag had been numbered and labelled with the name of the station from whence it was taken, the name of the officer who had brought it in, and particulars of its contents. These facts are important, as having a bearing upon what subsequently happened.

Elk arrived at his office soon after ten o’clock, having enjoyed the first full night’s sleep he had had for weeks. He had, as his assistants, Balder and a detective-sergeant named Fayre, a promising young man, in whom Elk placed considerable trust. Dick Gordon arrived almost simultaneously with the detective chief, and they went into the building together.

“There isn’t the ghost of a chance that we shall be rewarded for the trouble we’ve taken to trace these cheques,” said Elk, “and I am inclined to place more hope upon the possibility of the handbags yielding a few items which were not apparent at first examination. All these bags are lined, and there is a possibility that they have false bottoms. I am going to cut them up thoroughly, and if there’s anything left after I’m through, the Frogs are welcome to their secret.”

In the office, Balder and the detective-sergeant were waiting, and Elk searched for his key. The production of the key of the safe was invariably something of a ritual where Elk was concerned. He gave Dick Gordon the impression that he was preparing to disrobe, for the key reposed in some mysterious region which involved the loosening of coat, waistcoat, and the diving into a pocket where no pocket should be. Presently the ceremony was through, Elk solemnly inserted the key and swung back the door.

The safe was so packed with bags that they began to slide toward him, when the restraining pressure of the door was removed. One by one he handed them out, and Fayre put them on the table.