The two rascals glanced at each other in the dim light of the dawn that now showed itself, and the detective saw that they were trembling.

“What do you know about such a watch?” demanded Miguel.

“I know that you had it, and lost it. I also know that Don Solado went to see Mrs. van Raikes, the hostess at that ball, and confessed to her that the watch was lost.

“Well, where is the crime, even if what you say is true?” blustered Don Solado.

“It consists in the fact that you stole it from Prince Marcos——”

“What rubbish!” interrupted Miguel. “Is it likely I would condescend to such a contemptible crime as picking a pocket?”

“I don’t know anything about that,” returned Nick. “But I do know you took the watch. Moreover, I know where it is now. It will be brought up in evidence against you if necessary.”

“Where is the watch?” asked Solado.

“In the possession of Prince Marcos.”

“Are you sure of that?”