"Why should he be?" Grey asked.

"Because he is in love with Ethel Hargrave," Tanza said. "One can see that with half an eye. And what is more, the girl is in love with him. But these things are in the air at present. So far as I am concerned, I should be disposed to keep our discovery a profound secret. That rascal Bark will not dare to say anything, and I flatter myself I can find a way to keep Swift's mouth closed. Unfortunately, Miss Hargrave has made some discoveries, but we may be able to convince her that she has made a mistake. If Arnold Rent dies, which seems more than probable, we may save the scandal altogether. Charlock we can trust."

They were back at the yacht again presently, still discussing the tragedy in which they were both profoundly interested. There was no sign of Bark, and Swift seemed to be decidedly better. After luncheon Tanza had a long talk with him, and left him in appreciably higher spirits. Just as the Italian arrived on deck again an urgent message came for Grey, saying that Mr. Rent desired to see him immediately.

Grey found Rent sitting in bed, propped up with pillows. It needed no practised eye to see that the end was near. Mrs. Rent and Ethel were with the sufferer, and at a sign from him they left him and Grey together. Rent was very weak and low, yet there was a resolute look in his eyes, and he lost no time in coming directly to the point.

"You know why I sent for you?" he demanded.

"I can give a fair guess," Grey murmured.

"Ah, I am glad of that, because it will save me a deal of talking, and time is precious. Tell me in a few words what you have discovered. It would be a kindness to speak frankly and openly to me."

"Perhaps it would," Grey said. "Then I may say I have discovered everything. Nothing is hidden from me."

"This is what I expected," the dying man murmured. "I have felt that ever since you have been in the neighbourhood. Oh, I know what Tanza was after. I have not been altogether blind. But I swear to you that so far as Mrs. Charlock was concerned I am absolutely and entirely innocent. It was a cruel misfortune—but go on, please. Let me hear your story first."

"There is not much to tell," Grey said, picking up the thread. "To begin with, I know all about your entanglement with the French maid. An accident put me on the track, but it is a waste of time to go into that. I know what happened between your workshop and the fountain. I know how you laid the trap which led Hortense to her death. But perhaps I had better tell it to you just as I told it to Tanza a little while ago."