'An attempt only?' Mr. Dering asked. 'Where are my certificates?'
'I say attempt, because you can't really steal stock. Dividends are only paid to those who lawfully possess it. This Edmund Gray we can find, if he exists. I take it, however, that he does not. It is probably a name assumed by the forger. And I suppose that he has made haste to sell his stock. Whether or no, you will certainly recover your property. People may as well steal a field as steal stocks and shares.'
'We can easily find out for you,' said Mr. Ellis, 'what has become of your paper.'
'If the thieves have kept it,' George went on, 'all they could make would be the dividends for five months. That, however, is only because the Bank-book was not examined for so long. They could not reckon upon such an unusual stroke of luck. It seems almost certain that they must get rid of the stock as quickly as they could. Suppose that they have realised the whole amount. It is an immense sum of money. It would have to be paid by cheque into a bank: the holder could only draw out the money gradually: he might, to be sure, go to America and have the whole amount transferred, but that would not help him much unless he could draw it out in small sums payable to confederates. In fact, the robbery seems to me hedged about with difficulties almost impossible.'
'It is the most extraordinary attempt at robbery that ever was,' said Mr. Ellis. 'Thirty-eight thousand pounds in shares. Well, I will find out for you if they have been sold and to whom. Meantime, my old friend, don't you be down-hearted about it. As Mr. Austin says, you will certainly get your property back again. What? We live in a civilised country. We cannot have large sums like 40,000l. stolen bodily. Property isn't kept any longer in bags of gold. Bank notes, banks, investments, all tend to make great robberies impossible. Courage; you will get back your property.'
Mr. Dering shook his head doubtfully.
'There is another chance,' George suggested. 'One has heard of robberies effected with the view of blackmail afterwards. Suppose we were to get a letter offering the whole to be returned for a certain sum.'
'No—no. It is now four months since the thing was done. They have sold out the stock and disappeared—gone to America, as you suggested. Why, the things may have been sold a dozen times over in the interval. That is the danger. Suppose they have been sold a dozen times over. Consider. Here is a share in the Great Western. I transfer it from A to B. Very good. The share now belongs to B, and stands in his name whether honestly come by or not. B sends it to another broker, who sells it to C. He, again, to D. Every transaction is right and in form except the first. You can trace the share from owner to owner. B has vanished. A says to C: "You bought that share of a thief." C says: "Very sorry. How was I to know? D has got it now." D says that it is his, and he will stick to it. We go to law about the share. What is going to happen? Upon my word, I don't know. Well—but this is only conjecture. Let me first find out what has become of the shares. Of course there is a record, to which I have only to refer. I will let you know by to-morrow morning, if I can.'
When Mr. Ellis was gone, George began to sum up, for the clearing of his own mind, the ascertained facts of the case, so far as they had got.
'First,' he said, 'the letters to Ellis and Northcote were written on our headed paper. Clearly, therefore, the writer must have had access to the office. Next, he knew and could copy your handwriting. Third, he was able to intercept the delivery of letters, and to prevent your getting any he wished to stop, because the correspondence was conducted openly through the post. That seems to be a very important point. Fourth, the letters were all, apparently, in your handwriting, very skilfully imitated, instead of being dictated and then signed. Fifth, he must at least have known of the last forgery, or how did he arrive at the name of Edmund Gray?' And was it out of devilry and mockery, because that forgery escaped detection, that he used the name again? Sixth, he must have had access to the safe where the cheque-book (as well as the certificates) was kept. Seventh, he must have known the office pretty well, or how did he find out the names of your brokers? Eighth, the handwriting appeared to be exactly the same as that of the former forgery.'