At the door, Matt pushed a button that turned on the lights. As soon as McGlory and Bunce were in the room, the door was locked and Matt took charge of the key.

"That's the stuff, pard," approved McGlory, with great satisfaction. "If the old tinhorn don't spout to please us, we can phone the office for a policeman."

"Ye're not sending me to the brig this trip, mates," spoke up Bunce. "'Cos why? 'Cos in fillin' the bill for me, ye're givin' the mandarin a leg up out of a purty bad hole."

"What have you got to tell us?" inquired Matt curtly. "Out with it, Bunce."

"When ye last seen me, my lad," said Bunce, "I was sailin' in convoy with Philo Grattan. But he's doin' things I don't approve of, not any ways. It was all right to put our helm up an' bear down on a chink joss house to lift the Eye o' Buddha, an' it was all right, too, when ye helped the big high boy get the ruby back. That was all in the game, an' we'd ought to've made the most of it. But not Philo Grattan. D'ye know what he's layin' to do? Nothin' more, on my soul, than to strangle Tsan Ti with a yellow cord an' take the ruby away from him. My eye, mates, but Grattan's a clever hand at overhauling his locker for a game like that. The boss of the Chinee Empire sends these yellow cords to the chinks he don't like an' don't want around. When the cords come to hand, then the chinks receivin' thereof uses them to choke out their lives. Tsan Ti is found, dead as a mackerel, with the yellow cord twisted into his fat neck. Eye o' Buddha is missin' from his clothes. What's the answer? Why, that Tsan Ti lost the ruby, an' used the cord sent him from the home country. That'll seem plain as a burgee flyin' from the gaff o' one o' these fresh-water yachts. Won't it, now?"

Matt knew that Tsan Ti had received the yellow cord from China, and that he had been allowed two weeks in which either to find the stolen ruby or to use the cord. Of course, the ruby had been recovered, and there was no necessity for using the hideous cord; but, if he was found strangled, it would have seemed as though he himself had committed the deed in compliance with orders from the Chinese regent.

Bunce may have been romancing, but there was a little plausibility back of his words.

"Where is Grattan?" demanded Matt.

"In these here hills, shipmate," replied Bunce.

"Tsan Ti isn't in the Catskills!"