An ugly smile crossed Frobisher's face, but he carried the conversation no further. He was puzzled and bewildered, and neither feeling was palatable. He had been outgeneralled by a woman, and the reflection was bitter. But he was going to have his own way over this matter, as Angela would discover.

"Mr. Arnott to see you, sir," the butler announced. "In the library, sir."

Arnott seemed to be anxious about something. He was fussing up and down the library with a mass of papers in his hand. His manner was hardly flattering.

"Well, you have made a nice mess of it," he said, "you and Lefroy between you. He's bolted." Frobisher chuckled for the first time since he rose.

"Bet you a penny old Benstein had found out all about those forgeries," he said. "Lefroy didn't know that I was au fait as to that transaction. So Lefroy has retired discreetly—urgent business on behalf of the master, and all that kind of thing, eh? That leaves the field clear for us."

"To a certain extent, perhaps. But you won't get the concessions. Hamid Khan has been utterly beaten by Mrs. Benstein and your friend Harold Denvers. It appears that Mrs. Benstein knew Hamid Khan years ago, he being no more of a Koord than you or I. The Shan has dismissed him, and at the present moment is on his way to Paris with Denvers."

A round rasping oath shot from Frobisher's lips. "So that young blackguard was in it," he exclaimed. "I fancied so."

"In it! In it up to his neck. I bribed one of the Shan's servants. Why, Denvers, calling himself Aben Abdullah or some such name, and beautifully disguised, was in your house the night before last at your wife's dance. It was he who stopped your little game and enabled Mrs. Benstein to turn the tables on you. Those concessions are as good as in Denvers' pocket."

"But where did the money come from to get that gem out of Benstein's clutches? I know for a fact that the Shan is desperately hard up for the moment."

"What does that matter?" Arnott asked irritably. "You were at Mrs. Benstein's luncheon-party at the Belgrave yesterday. Who was there besides the actors in the game? You are losing your wits, Frobisher. What do you suppose Parkford was doing there?"