"Supposing that Jap came back and sneaked the ring the second time," said Gunther, taking his arm.

Beecher started in surprise.

"I wasn't thinking of that," he said.

"But I was. That puzzle of yours has been running in my head ever since. I've got six people now absolutely logically worked out for the thief—perfect deduction. Take me over to Mrs. Kildair; I want to meet that woman."

"I say, Bruce," said Beecher as they started to cross the room, "it's going to be an awful smash. All the boys are caught. There'll be the deuce to pay here later on."

"Shouldn't wonder—they started in pretty fierce."

"Eat, drink, and be merry—eh?"

"Sure."

By the hazards of the crowd they found themselves opposite Nan Charters, who was on the arm of Charlie Lorraine, a clean-cut, pleasant type of the racing set, decidedly handsome in a dark way.

"Hello, fellows, any old clothes to give away?" said Lorraine, who had the topic of the evening in jest. "I speak first. How the deuce did Eddie Fontaine miss you two? Heard what we are doing? We are organizing the Eddie Club. Every one who's taken his tip is going up to live on Eddie's farm for the winter—great idea, eh?"