Said Tom to Lionel, as they were walking arm-in-arm towards the pump-room: “Did you notice that magnificent ring which Janvard wore on the third finger of his left hand?”

“I could not fail to notice it. I was thinking about it at the very moment you spoke.”

“I have not seen so splendid a ruby for a long time. The setting, too, is rather unique.”

“Yes, it was the peculiar setting that caused me to recognize it again.”

“That caused you to recognize it! You don’t mean to say that you have ever seen the ring before?”

“I certainly have seen it before.”

“Where?”

“On the finger of Percy Osmond.”

Tom halted suddenly and stared at Lionel as if he could hardly believe the evidence of his ears.

“I am stating nothing but the simple truth,” continued Lionel. “The moment I saw the ring on Janvard’s finger the thought flashed through me that I had certainly seen it somewhere before. All the time I was talking to Janvard I was trying to call that somewhere to mind, but it did not come to me till after we had left the hotel—not, in fact, till a minute before you spoke about it.”