"First give me one of those cigars," I said, "and then I'll tell you."

He handed me the box of cigars and I drew up an easy-chair on the other side of the fire. And then I told him my adventures, and as I was not unwilling that this redoubtable adventurer should see that he had a not wholly unworthy accomplice, I told them in pretty full detail. He was an excellent listener, I must say that for him. With an amused yet appreciative smile, putting in now and then a question shrewd and to the point, he heard my tale to the end. And then he said in a quiet manner which I already realised detracted nothing from the value of his approval—

"You did remarkably well, Mr Belke. I congratulate you."

"Thank you, Mr Tiel," I replied. "And now may I ask you your adventures?"

"Certainly," said he. "I owe you an explanation."

II.

TIEL'S STORY.

"How much do you know of our scheme?" asked Tiel.

I shrugged my shoulders.