“We must find the answer to that question,” Nick replied. “Other detectives, in their efforts to discover the crooks themselves, may have neglected to look sharply enough for it. We may meet with more success, in fact, by working backward.”

“Working backward, chief?” questioned Patsy. “What do you mean?”

“By finding out where the goods are disposed of, through what channel they reach their destination, and by working back over the same route, even to the moment of the theft,” Nick explained.

“By Jove, that plan might prove profitable,” said Chick. “The goods cannot have been pawned in this city. The headquarters men would have run them down within forty-eight hours.”

“Undoubtedly,” Nick agreed. “It is safe to assume, nevertheless, that the goods are stolen to be converted into money, which necessitates either pawning or selling them. They may have been shipped to some other city for that purpose.”

“Quite likely.”

“But how are we to learn what city, chief, assuming that you are right?” questioned Patsy.

“I have a hunch that the way will appear,” replied Nick. “There is one other point of which we can take advantage, I think, and it may start us on the case right off the reel.”

“You mean?”

“Bart Bailey’s presence in New York, and what occurred to-day.”