He shook his head, as his trembling legs carried him down the hillside.

"You're all right," said Baggin reassuringly. "I'll admit that it was a bit spooky." He tapped his pocket mechanically, and stopped dead.

"Gone!" he gasped, and dived into his pocket. "My memorandum book!" Suddenly he grasped his companion and shook him savagely.

"It was you, damn you! I felt you pawing over me in the dark."

Grayson looked at him good-naturedly. "Don't be an ass, Baggin," he said. "What would I do with your code when I had it? God knows I don't want the responsibility of this business!"

Baggin released him sullenly. "I—I beg pardon, Grayson. But I did feel hands upon me in the darkness, and thought at the time it was you. I daresay it was that accursed Spaniard."

He looked about him eagerly. The crowd was dispersing in all directions. The stranger was not to be seen.

"Thank Heaven, the thing was in cipher. He won't be able to make anything of it, anyway. He probably thought it was a fat wallet full of money, and will be desperately disappointed." He laughed mirthlessly. Plainly he was greatly disturbed.

Grayson observed him with a malicious satisfaction. "You shouldn't carry valuables around in a place like this," he remarked gravely.

The two men descended the hill and made their way to their hotel.