Marsh took a photograph from his pocket. "Among the traces left in that apartment," he went on, "were the imprints of a man's hands on the dining room table. I have here a photograph of those imprints, and among the many identifying marks there is a scar of a peculiar shape."

Marsh returned the photograph to his pocket.

"I am very glad to learn that you have cleared up the murder of my employer, Mr. Marsh," said Hunt. "What seems curious to me, however, is why you should think this man Atwood would want to kill Mr. Merton. Surely Mr. Merton could never have had any dealings with a criminal such as you describe Atwood to be."

"On the contrary, Mr. Hunt," returned Marsh, "Merton had extensive business dealings with Atwood. In fact, he went so far as to place Atwood in a position where he could rob Merton of several hundred thousand dollars worth of stocks and bonds. The transfer of these securities had been taking place for a year or more, and it had reached the point where the greater part of Merton's fortune was in Atwood's hands. It is evident that Atwood's original intention was to step quietly out of sight with this fortune, but subsequent events led him to believe that he could go on in quiet security if Merton were out of the way. That was the reason why Merton was murdered."

Hunt threw the remains of his cigar into the fireplace, and slipped the hand that had held it down into the pillows of the davenport.

"And you think you have at last located this man Atwood do you, Mr. Marsh?"

"Yes," returned Marsh, calmly, "because I have absolute proof that CLARK ATWOOD AND GILBERT HUNT ARE ONE AND THE SAME MAN!"

Instantly Hunt's hand whipped out from behind the sofa cushions, and the three detectives found themselves covered by an automatic as Hunt stood up.

"Clever work, gentlemen," he said, smiling. "But after leading men of your type around by the nose for many years, you can hardly expect me to stay here and calmly accept defeat now."

"Oh, no," answered Marsh. "We fully expected you to put up a good fight." He slipped his hands into his trouser pockets, and crossing his legs, leaned back, smiling up at Hunt. "Go ahead; what's your next move?"