"I reckon I've met you before," said the disguised officer.

"You think you've met me before?"

"Yes."

"Where?"

"Can't recall just now, but the faint remembrance don't bring me a pleasant feeling."

"You are a fool," exclaimed Denman, and rising from his seat beside the disguised detective he walked to the other end of the car.

At length the train ran into the depot at Brooklyn, and the few passengers went aboard the boat that was to convey them to the city.

The detective was a happy man. He had accomplished a big feat, and little dreamed of the terrible discovery he was destined to make later on.

Upon reaching the city, Denman started down town and entered a building occupied by a foreign importing horse.

The detective was at his wit's end. He was anxious to overhear what passed between the master of the "Nancy" and the members of the firm. In a moment his decision was made, and it was founded on a cunning line of reasoning.