Fenton took the diamond crescent, which Naball held out to him, and looked at it closely.

"Humph!--set in silver--rather toney," he said; "well, is this part of the swag?"

"That's what I want to find out," said Naball quickly. "You know the peculiar way in which Caprice has treated this robbery."

"I know she's a fool," retorted Fenton politely. "She ought to go right along in this matter; but for some silly reason, she won't."

"No; and that's why I've come to you. I'm going down to see her when I leave here, and it's likely she'll deny that this belongs to her. Now, I want your evidence to put against her denial. Is this the property of Caprice?"

Fenton examined the jewel again and nodded.

"Yes, sir," he replied, with a nasal drawl, "guess I gave her this."

"I thought you'd recognise it," said Naball, replacing the jewel in his pocket; "so now I'll go and see her, in order to find out how Villiers got hold of it."

"Stole it, I reckon?"

"I'm not so sure of that," replied the detective coolly. "I don't believe Caprice cares two straws about Villiers being the husband of Madame Midas. If he stole the diamonds, she'd lag him as sure as fate; no, as I told you before, she's got a finger in this pie herself, and Villiers is helping her."