"Yes, it does."
"I think I can figure the thing out, Nick. Leonard is in a bad way. He is shy of money. Maybe he has been speculating, and has eaten up all his ready cash and all the money he could raise on his factory stock. On top of his pecuniary troubles comes this blackmailing demand of Madame Ree. I can't guess what the secret is, but it is a sure gamble that she has got a strangle-hold on Leonard. She demands money, and fixes last evening as the time for payment.
"Leonard, not having been able to scare up the wherewithal, comes to the office, in the hope that he may find enough money in the safe to stop the woman's mouth, for awhile, at least. He discovers that Filbon has robbed him, but has not run off with the money. John Dashwood has it. The amount is more than enough to square the madame's claim. He starts out to find Dashwood, being informed by the note left on the desk that Dashwood has gone to Luke Filbon's house. When near the house he sees Dashwood, who has been down to the river looking for Filbon, who, not being at home, may have made his way to the river for the purpose of ending his life.
"Now, what follows? Here is my idea of what followed: Leonard killed Dashwood to get the twenty thousand dollars, and threw the body into the river, which may not reveal its secret for a week. Why should he murder Dashwood? Because, Nick, Dashwood, upon the request being made, refused to give up the money. It is very probable that Dashwood knew that Madame Ree had been dogging Leonard. Let us assume that he had seen them together, had overheard some suspicious words. If he had known that they were acquainted, had suspected that a criminal secret existed between them, he must have formed some decided opinion respecting the woman's presence in front of the factory building that night. Therefore, he would refuse to hand over the money to Leonard. Angry words may have passed. Dashwood may have mentioned Madame Ree's name, and—men have become devils upon less provocation than Leonard may have received. It is certain that murder was not contemplated when Leonard went out to seek Dashwood. The crime was committed on the impulse of the moment, the weapon picked up on the wharf on which they were standing when the conversation took place. And it was Dashwood who was killed that night, for he has brown, silky hair. Now, what do you say to all this?"
"I say," said Nick solemnly, "that Gabriel Leonard never murdered John Dashwood."
CHAPTER V.
NICK HAS AN ADVENTURE.
The chief of police looked at Nick Carter, as if he could not believe the evidence of his ears. "Leonard did not kill Dashwood?" he exclaimed, in surprise and incredulity. "Then, in the name of wonder, who did?"
"I don't know," said Nick simply.