Piper explained, taking to himself abundant credit for quick thought, rapidity of action and amazing cleverness in keeping concealed once he had slipped inside.

“Well, what did you learn, anyhow?” questioned Hooker. “Did you find out anything, or did you waste your time?”

“I never waste my time,” retorted Sleuth with dignity. “It was through my natural desire to learn all that could be learned that I was detected and ejected. At the present moment the officers of the bank are in the directors’ room at the rear, going over the securities. There’s a door leading from that room into the outside corridor, and, in order to hear and see, I had to open that door. They closed it once, but I opened it again on a crack, and that aroused the suspicions of Rufus Sprague, who stepped out quickly and nabbed me. Then, refusing to listen, they chucked me outside. I was ready to throw a bombshell into their midst, but I’m glad now that I was restrained from action.”

“What did you propose to tell them, Sleuth?”

“It was on the tip of my tongue to advise them to look for a certain party known as ‘James Wilson,’ alias ‘William Hunt,’ alias ‘Philip Hastings,’ alias ‘Gentleman Jim,’ and furthermore and finally, alias Clarence Sage.”

“Then you fancy——”

“Fancy, Hooker? Nay, sir, this is no case of guesswork; I know what I’m about. Doubtless Sage is as far from Oakdale as his feet could carry him in the time since the would-be robbers fled.”

“The would-be robbers!” echoed Roy. “Then they really didn’t get anything?”

“Right there,” said Sleuth, “you touch the one point that as yet remains inexplicable to me. The inner door of the vault apparently has not been broken open by the burglars. It was unlocked by Timmick in the presence of Urian Eliot and the directors. They removed cash and securities to that back room for investigation. At first everything seemed undisturbed and they were congratulating themselves, when the discovery was made that a package of securities amounting to twenty thousand dollars was missing.”

“Gee!” gasped Hooker. “Then there was a robbery. But how can it be possible, if the inner door of the vault had not been opened?”