"What, then, do you infer?"

"That he has been handsomely paid for his complicity in the robbery."

"What explanation does he personally give of this unusual expenditure?"

"He admits that they were paid for by this suspicious stranger."

"Has the stranger—what is his name, by the way?"

"Roland Reed, he calls himself, but this, probably, is not his real name."

"Well, has this Reed made his appearance in the village since?"

"If so, he has come during the night, and has not been seen by any of us."

"I can't say I share your suspicion against Mr. Reed. Your theory that he took out the bonds and substituted other papers is far-fetched and improbable. As to the boy, I consider him honest and reliable."

"Do you know Luke Larkin?" asked Mr. Duncan quickly.