"What money?" asked Jerce, suddenly.

"The two thousand a year which Uncle Henry did not spend. Even if nothing was done with it, the amount in twenty years would increase to forty thousand pounds."

"And that should be given to me," put in Ferdy, quickly, "seeing that Clarry has the full income."

"Half of which is in trust for you, Mr. Baird," said Barras, in his dry way; "but the accumulations, Miss Baird," he added, addressing Clarice, "certainly amount to the sum you mention; and if these monies were let out at the same rate of interest which my late client extorted from Mr. Clarke, the amount in the banks ought to be much greater. Unfortunately"--Mr. Barras stopped and hesitated.

"Well?" asked Clarice, impatiently. "Well, the money isn't in the bank. I have all the books of the late Mr. Horran, and all his business papers, but in no instance can I find what he has done with forty thousand pounds, or with possible accumulations."

Jerce started up in dismay. "Is this the reason why you asked me if Horran was a scoundrel?" he demanded.

"That is the reason," replied Barras, serenely. "I want to know what has become of that money. I think I can guess, however."

"You can guess?" repeated Clarice, puzzled.

"Yes. You wondered why Mr. Horran was murdered. I answer, for the sum of forty thousand pounds."

Barras said this so quietly, that he took away the breath of his hearers, and they looked at one another, unable to speak. Seeing this, Barras explained himself still further. "I collected the rents of the Baird property," he said. "Two thousand a year I paid into the London Bank, according to the directions of Mr. Horran, and that I can account for, by the books and the papers, since it went in Mr. Horran's income as guardian, in keeping up this house, and in educational and clothing expenses. But the remaining two thousand a year I paid personally to Mr. Horran, as it came in, and he never accounted to me for its use. There was no reason that he should do so," added the lawyer, coolly, "seeing that Mr. Horran had full power under Mrs. Baird's will to deal with the estate as he chose. Certainly, judging from Mr. Clarke's loan, which came under my notice, I fancied that Mr. Horran might be investing the money, or letting it out at large interest, but I can find nothing in the papers left by the deceased likely to throw any light on its disposal."