“He!” Winnie gasped.

“Yes; much as it may pain you to learn the fact, I must inform you that all indications now make it a certainty that the thief can be no other than your Professor of Art, Carrington Waite.”

Milly gave a little cry and fainted dead away. The others all sprang to her assistance, but as I was quite a distance from her I did not move, and I heard Mr. Mudge give a suppressed chuckle, and remark below his breath: “Ah! my little lady, I thought that would make you show your hand.”

Milly speedily recovered; and with her first breath exclaimed, “Oh, no, no! You are mistaken; it cannot be so.”

“Why not?” Mr. Mudge asked. “Was not Professor Waite in the studio at the time that the robbery was committed? Did I not find the lock of this door in his tool chest? Is it not a well-known fact that he is a poor man, and yet a few days after the robbery did he not deposit in the savings bank just one hundred dollars more than his quarter’s salary? What stronger proof do we require?”

“I can explain all these circumstances.” Milly replied eagerly, and she told the story of the broken lock, which amused Mr. Mudge greatly.

“That disposes of one bit of circumstantial evidence,” he admitted; “but the other items?”

“As to the money,” Milly continued, with a slight flush, “papa bought one of Mr. Waite’s small pictures, and sent him a check for a hundred dollars just at the time you speak of. I think if you inquire more particularly at the bank you will find that it was papa’s check which he deposited; and I can testify that he was not in the studio at the time the robbery was committed. I was lying awake and I heard him come up the stairs. He was earlier than usual. It was some time before twelve. He hardly remained a moment, merely left his canvases and paint-box, and went right away.”

“That is all very well under the supposition that the robbery was committed between the time that Miss Winnie looked into the cabinet and Miss Cynthia’s discovery. But Miss Winnie has just admitted to me that the money was gone when she opened the cabinet, so the theft must have occurred before that time.” Winnie threw a piteous glance at Milly, which Milly did not notice.

“But still, after Professor Waite went away,” Milly insisted.