Three days passed. Ray Raymond remained practically inactive, save that we both attended the inquest at Southminster as members of the public and listened to the evidence. The revelation that a man apparently in a state of great destitution carried forty-nine sovereigns upon him struck the coroner as unusual, and at his direction the jury adjourned the inquiry for a week, to allow the police to make further investigation.

As soon as this was decided my companion at once became all activity. He found the man Rait, a big, clumsy seafarer, and questioned him. But from him he obtained nothing further. With the publican Bramberger he contrived to strike up a friendship, loudly declaring his theory that the motive of the murder of poor Pavely was jealousy, it being now known that he had been courting the pretty daughter of an old boatman over at Burnham.

My position was, as usual, one of silent obedience. Hither and thither I went at his bidding, leaving to his, the master mind, the gradual solution of the mystery. He was one of those secretive men who delighted in retaining something up his sleeve. The expression upon his face was never indicative of what was passing within his mind.

The adjourned inquest was held at last, and again we were both present at the back of the room. The police practically admitted their inability to solve the mystery, and after a long deliberation the twelve tradesmen returned a verdict of "wilful murder," leaving the constabulary to further prosecute their inquiries.

Nearly a fortnight had passed since the sturdy North Sea pilot had been so cruelly done to death, and many were the new theories advanced nightly in the smoke-room of the "Goat and Binnacle."

I still remained at the "King's Head," but Raymond was often absent for whole days, and by his manner I knew the spy-seeker to be busy investigating some theory he had formed.

He had been absent a couple of days, staying over at the "White Hart" at Burnham-on-Crouch, that place so frequented by boating men in summer, when one afternoon I ran over to Chelmsford to call upon a man I knew. It was about ten o'clock at night when I left his house to walk to the station to catch the last train, when, to my surprise, I saw close to the Town Hall a smart female figure in a black tailor-made gown and big black hat, walking before me, accompanied by a tall, thin, rather well-dressed young man in breeches and gaiters, who seemed to be something of a dandy.

The girl's back struck me as familiar, and I crossed the road and went forward so as to get a glance at her face beneath the street-lamp.

Yes, I was not mistaken. It was Vera Vallance! Her companion, however, was a complete stranger to me—a well-set-up, rather good-looking young fellow, with a small black moustache, whose age I guessed to be about twenty-eight or so, and whose dark eyes were peculiarly bright and vivacious. He walked with swaggering gait, and seemed to be of a decidedly horsey type.

From their attitude it appeared that they were intimate friends, and as they walked towards the station, I watched his hand steal into her astrachan muff.