"Dear Mr. Leonard: This evening I discovered that Luke Filbon, by falsifying the books, was enabled to steal twenty thousand dollars from the company. Filbon came in just as I had finished my examination of the books, and not only confessed, but restored the money, which he had secreted in his desk. Before he left, I allowed him to go on his promise to return in the morning for an understanding—I placed the money, all in notes, in the safe, but immediately afterward withdrew them, fearing that Filbon might return and repossess them. I might have changed the combination of the safe, but that would have taken time, and my nerves are not in good condition. Besides, I want to see Filbon again as soon as possible. I don't think I did right in letting him go. Of course, you will see me in the morning, but in the possible event that I may be kept up all night, and, therefore, not reach home, and to make sure that you may understand matters when you come to the office, I have written this note.

"John Dashwood."

There was a cloud on Nick's brow when he had finished reading what Dashwood had written. He now feared the worst.

"Why did Gabriel Leonard keep silent regarding this note?" he said to himself. "And why did he give a false account of his movements after he left the office? Because, in his breast, he holds a guilty secret. I am satisfied that it was Leonard whom the patrolman saw going from Filbon's house toward the river fifteen minutes after another man had gone in that same direction. Supposing that other man to have been John Dashwood, they might have met on the wharf, or near it. What happened when they did meet? If the river knows, the river may hold the secret forever. I must make another trip to that wharf. Last night was not a good time for an exhaustive investigation."

After lunch Nick took a car, rode out Broadway, alighted at the street on which Mrs. Filbon lived, and walked down to the wharf. There were a few people near the approaches. They were discussing the suicide, and one of them dropped a remark which caused Nick to stop in his walk.

"Strange that his boat should have been stolen on the night of his death, isn't it?"

"Looks queer, for a fact," said another man. "The verdict will be suicide, of course, but I'm leery on that theory. Maybe the man that stole the boat poisoned Filbon first, gave him the stuff in a drink of whisky, and then planted the bottle by Filbon's side."

"Who would do that?" asked the first speaker. "The man that notified the policeman?"

"Sure. And then he went back and swiped the boat."

"But why would he notify the policeman?"