Mr. Cumming looked at him inquiringly.

"It was an explanation," Cuthbert said, after a pause, "that closed my lips altogether on the subject. But in the present strange state of affairs I do not know that I need abstain from mentioning it to you. Brander explained that my father said that he required it to close up a matter that had long been troubling him. I gathered from the way he put it that it was some folly with a woman in his early years, and I need not say that respect for my father's memory prevented me from pursuing the matter further. Brander said that he had himself advanced the money on the mortgage in order that the business should be done privately and without any third person being cognizant of it."

Cumming sat thoughtfully for a minute without speaking and then he leapt suddenly to his feet and put his hand on Cuthbert's shoulder.

"You take my word for it, Mr. Hartington, that mortgage was just as much a bogus affair as the transfer. The one supplies the motive we have been looking for for the other. The failure of the bank brought Fairclose into the market, and not only did Brander purchase it for ten or fifteen thousand below its value at any other time, but he gained another fifteen thousand by this bogus mortgage. There is your motive for the forgery of your father's name on the transfer."

"I cannot believe it," Cuthbert said, slowly. "Brander could never be such a scoundrel as that. Besides, of course, the men who wound up the affairs of the bank would look closely into the mortgage. Whether it was real or whether it was a forgery, Brander would equally have obtained the money at my father's death, so your supposition of a motive fails."

"I do not know. Had the claim been made direct to you, you would naturally have got some sharp lawyer to investigate it, and, it would have been inquired into a good deal more closely than the official liquidator probably took the trouble to do. A mortgage, of which no one knows anything until after the mortgagor's death, would always be looked upon with suspicion, and some collateral proofs would be required. Of course, I may be wrong altogether, but it would be well for you to ascertain whether the official liquidator did take any steps to obtain such evidence."

"That I will certainly do," Cuthbert said. "I did write to him at the time, and I am bound to say his answer seemed entirely satisfactory and straightforward. He said that Mr. Brander had given proof that he did draw a check for the amount of the mortgage on the day on which it was executed, and although he did not show that interest had been specifically paid by checks from my father, there were receipts found among my father's papers for the half-yearly payments of interest. These were, it seemed, settled, when Brander, who collected his rents, made up his accounts with him."

"That all seems straightforward enough, Mr. Hartington, and as long as there was no ground for suspicion would doubtless pass muster, but it is certainly worth while inquiring into."

Cuthbert sat silent for some time.

"After all the whole of this is but the barest suspicion," he said. "The only thread of fact being that the transfer was kept secret from the directors, of which no doubt Brander will be able to give some plausible explanation, and his character stands so high at Abchester that the question, if raised, would be scouted as an atrocious libel upon him. But supposing that we had absolute proof, I don't see how I should stand. If my father was not a shareholder in the bank its creditors had, of course, no claim whatever on his property, but as the property has in fact been sold and the proceeds divided long ago who should I have to go against?"