That night the little "party" was held in the apartments of The Thinking Machine. President Fraser was first to arrive. He was pale and weak, but there was a fever of impatience in his manner. Then came West, Dunston, Miss Clarke, Miss Willis and Charles Burton, a clerk whose engagement to the pretty Miss Willis had been recently announced.

The party gathered, each staring at the other curiously, with questions in their eyes, until The Thinking Machine entered, rubbing his fingers together briskly. Behind him came Hatch, bearing a shabby gripsack. The reporter's face showed excitement despite his rigid efforts to repress it. There were some preliminaries, and then the scientist began.

"To come to the matter quickly," he said, in preface, "we will take it for granted that no employee of the Ralston Bank is a professional burglar. But the person who was responsible for that burglary, who shared the money stolen, who planned it and actually assisted in its execution is in this room--now."

Instantly there was consternation, but it found no expression in words, only in the faces of those present.

"Further, I may inform you," went on the scientist, "that no one will be permitted to leave this room until I finish."

"Permitted?" demanded Dunston. "We are not prisoners."

"You will be if I give the word," was the response, and Dunston sat back, dazed. He glanced uneasily at the faces of the others; they glanced uneasily at him.

"The actual facts in the robbery you know," went on The Thinking Machine. "You know that the safe was blown, that a large sum of money was stolen, that Mr. West's handkerchief was found near the safe. Now, I'll tell you what I have learned. We will begin with President Fraser.

"Against Mr. Fraser is more direct evidence than against anyone else, because in his pocket was found one of the stolen bundles of money, containing ten thousand dollars. Mr. Fraser needed ninety thousand dollars previous to the robbery."

"But----" began the old man, with deathlike face.