[A Triple Discovery]

Blagden returned as he had come, quickly remounting the stairs of the lodging house, ascending the ladder and crossing the roofs, and at length, with a feeling of relief, clambered down into his own dwelling, and re-entered his apartment, to find Mills and Atherton seated at the table, busily examining the documents which Bellingham had left behind him.

"Now then," said Blagden brusquely, "leave those papers alone a minute; there's time enough for them later. But here's the question to settle first. We've been listening to the damndest yarn I ever heard in my life. And what I want to know is this. Do you fellows believe it, or don't you?"

"I don't," Mills answered readily. "Not for a minute. Bellingham appeared to be a very decent chap, but I don't consider him sane. I think he's gone crazy over this thing. It's too tough a story to swallow."

Blagden smiled. "Tubby," he rejoined, "you were born a doubter. You may suffer from other faults, but your imagination will never be your ruin; I'm sure of that. What do you say, Atherton? Do you believe it?"

"Yes, I do," Atherton promptly rejoined. "You see, Tubby," he added, turning to Mills, "I've had the advantage of knowing Bellingham before he knew he was being watched, and he was as sane a man then as you would wish to see. Of course he's a nervous wreck now, but who wouldn't be? He must feel like a hare with the hounds after him. I hope he gets away all right."

"Oh, nonsense!" cried Mills unbelievingly, "he'll get away. I don't believe he's being followed at all."

"Well, I do," Atherton retorted. "You can bet that fellow who was after him was no ordinary detective, and if he had the enterprise to be climbing pine trees at two o'clock in the morning, to get the goods on Bellingham, I don't believe he's going to let him escape if he can help it. What's your opinion?" he asked of Blagden, who stood by the mantel piece, smoking furiously, his brow contracted as he pondered over the amazing story to which they had just been listening.

Blagden laid aside his pipe and began pacing up and down the room. "Frankly, Atherton," he confessed, "I'm puzzled. I'm half inclined to believe the whole thing is true; it would explain practically everything about the market which has perplexed us for so long. And yet it's such a romantic, impossible sort of a tale that I can't convince myself it's so; at least, not without further proof. But I'm sure of one thing; we ought to investigate with all the care in the world; it may be the opportunity of a lifetime. Can you make anything out of his figures?" And he motioned toward the papers on the table.

"Not a great deal," Atherton answered. "I should say he was still in the experimental stage; he's guessing at different theories, and then seeing how they fit the facts. But of course, unless you've got the whole code at your fingers' ends, you couldn't expect to follow the ups and downs of the tape intelligently. He has made a beginning; it remains for us to try to complete it."