Our hero proceeded to carry out the business of the transfer. He had settled the matter as to the heirship, and in the meantime Mrs. Speir very reluctantly took possession of an elegant residence, and when Mr. Townsend and our hero called upon her the latter said:

"You will have a grand home to welcome your daughter to when she returns, and this home is your own."

When everything was arranged Jack went under a disguise and through Mr. Townsend he had himself introduced as a young Spanish millionaire of excellent family.

To those of our readers who have not read the previous exploits of our hero, we will say that Jack Alvarez had lived many years in Madrid and spoke the language like a native. His boyhood years had been passed in Spain—indeed, his mother, an American woman, was in Spain when her two sons, Jack and Gil, were born.

As the young Spanish millionaire Jack went under a most radical change. He was an adept at disguises, and no one would ever have suspected in the young Spaniard who could not speak English the real Jack Alvarez, the acute detective. Our hero arranged to play a dual rôle, and it was as Jack Alvarez he met the baron. There had come a complete change over the demeanor of the baron. He appeared to have money, and he actually invited our hero to dine with him and Jack accepted the invitation, and during the meal the baron said:

"I may appear gay, but I am very sad."

"Indeed?"

"Yes, you are my only confidant; I loved Amalie Speir, the young governess, and I have been heartbroken since the discovery that the poor girl committed suicide."

"It was sad. What do you suppose could have been her motive?"

"Despondency, of course."