With his hat off Gatton looked more like a seaman than ever, for he had short, crisply curly hair and that kind of bull-dog line of cranium which one associates with members of the senior service. Upon a chair set in a recess formed by one of the lofty windows a leather grip rested. It was wet and stained, and had palpably been recovered but recently from the water. Seeing my glance straying towards this object at the moment of my entrance, the Inspector nodded.

"Yes," said he, "it has just come in."

"What is it?"

"Well," replied Gatton, sitting upon a corner of the table and folding his arms, "it is a piece of evidence sufficient to hang the most innocent man breathing."

He eyed me in a significant manner and I felt my heart beginning to beat more rapidly.

"May I know the particulars?"

"Certainly. I asked you to come along for the purpose of telling you. Sir Eric Coverly's refusal to answer the questions put to him had necessitated his being watched, as you know. I mean to say, it's sheerly automatic; the Commissioner himself couldn't make an exception. Well, last night he left his chambers and started for Miss Merlin's flat. He came out of a back door and went along a narrow passage, instead of going out at the front. He evidently thought he had got away unobserved. He was carrying—that."

"Good heavens!" I said. "The young fool seems determined to put a rope around his own neck."

"As a matter of fact," continued Gatton, "he was not unobserved. He was followed right across St. James's Park. By the lake he lingered for some time; and the man tracking him kept carefully out of sight, of course. There was nobody else about at the moment, and presently, thinking himself safe, Coverly dropped his bag in the water! Immediately he set off walking rapidly again, and he was followed right to Miss Merlin's door. But the spot where he had dropped the bag had been marked, of course, and when I came in here to-day it had been fished, up—and placed there for my inspection."

With ever-growing misgivings: