"Is that all?"

"No, this evening I got the last link I'd been waiting for."

"What's that?"

"Your account with your broker, and the record of sales," he said, bringing out a slip from his pocket.

"Do you get convictions on such evidence as this?" she said steadily.

"No," he said frankly; "but I get confessions."

"Why should I take my own ring?"

"The situation was unusual. You probably learned of Majendie's failure and you plunged on the short side."

"But why not do so openly?" she said calmly.

He hesitated.