‘But what motive could he have for such a cruel wrong?’

‘Unknown to Shield, he was his rival; and it was his own satisfaction he sought in spreading the falsehood, as it was his own interests he served by endeavouring to make capital of it out of both Shield and me by playing upon the unfortunate misunderstandings between us.’

Madge was now calm and thoughtful. She, too, saw what a powerless instrument the villain’s memorandum was unless it could be proved that he had written it. Who would not say Mr Hadleigh himself had written it, to escape blame?

‘Have you got the memorandum still?’ she asked suddenly. ‘Will you give it to me?’

‘But it is useless, except to satisfy those who trust me that I had no part in the disgraceful affair.’

‘It is not quite useless, Mr Hadleigh. There are letters bearing that man’s name amongst my grandfather’s papers, and Mr Shield can compare the handwriting. That will be enough to assure him that you are blameless, even if he be so ungenerous as you imagine. Give me the paper.’

A clever thought; and Mr Hadleigh was struck by her quickness in seeing it and the energy with which she took up his cause. He did not know that she was working for Philip.

‘You will make a good advocate,’ he said with that far-off look in his eyes. ‘You shall have the paper. It is in the safe in my room.’

‘Thank you, thank you! I will wait here till you send it to me.’

(To be continued.)