She flinched as if he had dealt her the blow intended for Tollemache; but her champion was in no mind to permit a discomfited rogue to vent his spleen on a woman.

"Unless you're a bigger fool than you are unquestionably a knave, you'll hold your tongue," he said, speaking with a vehemence that silenced Raymond for the moment. "Now let us have no more humbug. I don't want to hurt you. Where are the other articles? Either give them up yourself or tell me where to find them."

Though quivering with passion, the detected thief apparently realized that he had nothing to gain by further pretense. From the left-hand outer pocket of his jacket he took two cases similar in size and material to that which held the pearls, though the color of the leather differed in each instance. He ignored Tollemache, and gave them to Mrs. Carmac. Even in that supreme instant his brazen nerve did not fail him.

"This dispute really affects you and me," he said. "I suggest that you discuss it with me privately."

"At present, Raymond, I would call your attention to the fact that you are discussing things with me," said Tollemache firmly. "Mrs. Carmac," he went on, "kindly glance through your belongings, and tell me if there is anything missing."

She obeyed, though in a pitiable state of nervousness. In the cold, clear light of a December day, diamonds and rubies, sapphires and emeralds, winked at her evilly as her trembling fingers turned over the contents of the cases, which had evidently been extracted from a larger receptacle so that they might be disposed of in Raymond's clothing without attracting attention by their bulk.

"Yes," she faltered, "I believe that every article is here."


"Now," said Tollemache, turning again to the ashen-faced Raymond, "I've proved my charge in the presence of witnesses. The stolen goods have been found in your possession. I admit that it is sheer good luck alone that swung the investigation my way. Had you been searched tonight, we might have whistled for the actual proof, because Mrs. Carmac's property would have been lying beneath the sea on the reef, unless it happened to be picked up by the diver. The facts are simple. You were with Mrs. Carmac in the deck saloon of the Stella during the gale. When Mr. Carmac shouted to his wife that the yacht had broken down, and would be dashed ashore within ten minutes, Mrs. Carmac fainted. Neither you nor anyone on board realized that the vessel would strike on Les Verrés and not on the coast.

"Being a thief in heart, you remembered that a small fortune was lying in those two boxes, and you thought you had plenty of time to open them, secure both the money and the jewels, and trust to luck for escape when the yacht was wrecked. If either of your employers was saved, and inquiry seemed possible, you had the plausible excuse that you were safeguarding the most valuable part of their property. You might have found some difficulty in explaining how you came to be in possession of duplicate keys; but you took the chance. I must say that for a man at the very gates of death you displayed a cool nerve which might command admiration if applied to a worthy object.