This impression was heightened by his catching the words "naval base," which could only deal with possible developments in a state of war. Stuart strained his ears to the utmost, but isolated words were all that he could glean.

Later, Stuart was to learn that his guess was at fault in general, but that the conclusion he had reached—namely, that injury to the United States was intended—was not far wide of the mark.

As the conference proceeded, it became evident to the hidden observer that the relations between the conspirators were growing strained. The Cuban seemed to be in taunting mood. The veins on the negro general's bull neck began to swell, and he turned and called Manuel,

"Pale Toad!"

A moment after, his raucous voice insulted the Englishman with the description,

"Snake that does not even hiss!"

Stuart expected to see violence follow these words, but the Cuban only moved restlessly under the insult; the Englishman smiled. It was a pleasant smile, but Stuart was keen enough to grasp that a man who smiles when he is insulted must either be a craven or a dangerous man with an inordinate gift of self-control. Cecil could not be a coward, or such men as Manuel and Leborge would not so evidently fear him, therefore the other character must befit him.

Another word which repeated itself frequently was——

"Panama."

This confirmed Stuart in his suspicions that the conspiracy, whatever it might portend, was directed against the authority of the United States, since the Panama Canal Zone is under American jurisdiction.