"How?"

"By the real nature of the Baron's business."

"Oh, he's a mysterious person, is he?"

"Very. Though I'm his confidential secretary, and deal with his affairs in his absence, yet in some matters he is remarkably close, as though he fears me."

"You live always in Budapest, I suppose?"

"No. In summer we are at the country house, a big place overlooking the Danube outside Semlin, and commanding a wide view of the great Hungarian plain."

"The Baron transacts his business there, eh?"

"From there or from Budapest. His business is solely with an office in the Boulevard des Capucines in Paris, and a registered telegraphic address also in Paris."

"Well, there's nothing very mysterious in that, surely. Some business matters must, of necessity, be conducted with secrecy."

"I know all that, my dear fellow, but—" and he hesitated, as though fearing to take his friend into his confidence.