“Well,” responded Folsom, “what are we to think?”

“Anything you please. I am willing to take hold of this case, but, as I start under unusual difficulties, I want you to let me go at it in my own way.”

“Certainly, Mr. Carter,” said Kerr; “but I don’t see the difficulties with all this evidence——”

Nick raised his hand.

“You’ve done first-rate work, Mr. Kerr,” he said. “The evidence is sound as far as it goes. But it don’t go quite far enough. The difficulties I refer to are the fact that so many men know that I am here, and that the only man who can say that Judson was murdered is dead.”

“I see.”

It was Kerr who spoke.

Folsom turned pale.

“You think, then,” he said, hoarsely, “that it was not a case of murder at all?”

“I didn’t say so,” responded Nick; “but this I will say, for, as I am in it now pretty deep, there’s no use in concealing my thoughts from you two—but you mustn’t let it go any further.”