“I suspect, to begin with, that Margate’s scheme at the outset was only a colossal bluff. I don’t believe he had, nor has, photograph copies of the government plans.”

“Great Scott!” exclaimed Patsy, gazing. “He must have a nerve, chief, in that case.”

“The proof of a pudding is its eating,” Nick replied. “Whether it’s a big bluff, or not, the rascal was in a fair way to get by with it. He has brought Garland to the point of planking down the money demanded.”

“You think it a case of blackmail, then,” said Chick.

“I do.”

“But the photograph of the portfolio—he certainly must have taken that,” Chick argued.

“Very true,” Nick admitted. “It is a small photograph, however, and may have been taken with an ordinary kodak. Margate may have had a camera of that kind. He is a[{27}] keen, far-sighted fellow. He may have apprehended that his designs at that time might miscarry, and that he later could work out the scheme I now suspect. Having that in view, he may have taken a photograph of the portfolio. A photograph of a big government plan with such a camera, however, would be of no earthly use.”

“That’s very true,” Chick admitted.

“Bear in mind, now, that Margate had the plans considerably less than twenty-four hours after stealing them from Dillon,” Nick continued. “It’s not reasonable to suppose that he would immediately have thought of having them photographed, nor be supplied with the necessary paraphernalia.”

“True again, Nick, as far as that goes.”