"Yes, that hour will be O.K., sir," he said aloud. "Thanks. Meet me at the corner," he added in a whisper.

So Jimmy Stiles was being watched in that office, thought Phil as he went down in the elevator. What for? Who by? A couple more questions to add to his collection. Well, they'd go over to the Island residence for their lunch where they would be undisturbed. He had telephoned already to Mrs. Parlby to serve luncheon for two, and dropped into the National Club to fill in the interval till twelve-thirty.

Sharp on time Stiles put in an appearance at the appointed place, but he demurred upon learning where Kendrick was proposing to take him.

"Gee Whiz! I got to get back to the office inside an hour," he objected.

"I'll promise to get you back on time," assured Phil. "The launch is moored down at the Canoe Club and she can do forty-five under pressure."

In spite of Kendrick's efforts at conversation on the way over, it was plain that his guest was ill at ease; but it was not until they were comfortably seated in the library that he undertook to relieve the bookkeeper's anxiety to know what was in his mind.

"I think perhaps your appetite will be improved, Jimmy, if we talk before we eat," smiled Phil. He offered his cigarette-case. "There is no reason why you and I should not be good friends."

Having first satisfied himself that there was no doubt whatever of young Stiles' loyalty to Nathaniel Lawson, he proceeded to recount briefly the events which had led up to his discovery of the real identity of Miss Margaret Williams. The extent of Kendrick's evident knowledge startled Stiles, if his nervousness was any criterion.

"Miss Lawson was masquerading in Ferguson's office for some reason. I caught her listening at the keyhole while Podmore was interviewing Ferguson day before yesterday. You might begin by explaining why she should report all this to you, Stiles, and why you tried to follow me last night after I left Mr. Lawson. I know that Miss Lawson is a valued member of the Recorder staff. Now, what about it?"

"She's doin' some special stunt for the paper," Stiles nodded after a little hesitation. "We've been good friends for quite a while, but there aint no reason why she should tell me all she knows, is there? She came to me yesterday an' asked me to keep an eye on your movements for a bit. She said you were workin' with Podmore an' that you an' him had swiped some envelope from Mr. Wade, the railroad president, and hidden it."