"None of us know where Mr. John Horbury is," repeated Joseph, in his suavest tones. "We all wish to Heaven we did!"

The girl turned and gave the junior partner a look which took in every inch of him. It was a look which began with a swift speculation and ended in something very like distaste. But Joseph Chestermarke met it with his usual quiet smile.

"It would make such a lot of difference—if we knew!" he murmured. "As it is—things are unpleasant."

Miss Fosdyke finished her reflection and turned away.

"I remember you now," she said calmly. "You're Joseph Chestermarke. Now I will sit down. And I insist on being told—everything!"

"My dear young lady!" exclaimed Gabriel, "there is next to nothing to tell. If you will have the unpleasant truth, here it is. Your uncle, whom we have trusted for more years than I care to mention, disappeared on Saturday evening, and nobody knows where he is, nor whither he went. All we know is that we find some of our property missing—valuable securities. And this gentleman—Lord Ellersdeane—tells us that six weeks ago he entrusted jewels worth a hundred thousand pounds to your uncle's keeping—they, too, are missing. What can we think?"

The girl's face had flushed, and her brows had drawn together in an angry frown by the time Gabriel had finished, and Neale, silently watching her from the background, saw her fingers clench themselves. She gave a swift glance at the Earl, and then fixed her eyes steadily on Gabriel.

"Are you telling me that my uncle is a—thief?" she demanded. "Are you, Mr. Chestermarke?"

"I'm not, anyhow!" exclaimed the Earl. "I—I—so far as I'm concerned, I say there's some mistake."

"Thank you!" she answered quietly. "But—you, Mr. Chestermarke? Come—I'm entitled to an answer."