"That is exactly Sir Henry's belief," Goslin remarked with a sigh. "The poor old fellow is beside himself with grief and fear."

"No wonder!" remarked the Italian. "None of us would care to be betrayed by our own daughters."

"But cannot a trap be laid to secure the thief before he approaches the people in Russia?" suggested the crafty Levantine.

"Yes, yes!" cried Volkonski, his hands still clenched. "The Ministry would give a hundred thousand roubles for them, because by their aid they could crush me—crush you all. Remember, there are names there—names of some of the most prominent officials in the Empire. Think of the power of the Ministry if they held that list in their hands!"

"No," said the Baron in a clear, distinct voice, his grey eyes fixed thoughtfully upon the wall opposite. "Rather think of our positions, of the exultation of our enemies if this great combine of ours were exposed and broken! Myself, I consider it folly that we have met here openly to-day. This is the first time we have all met, save in secret, and how do we know but some spy may be on the boulevard outside noting who has entered here?"

"Mille diavoli!" gasped Cusani, striking the table with his fist and sinking back into his chair. "I recollect I passed outside here a man I know—a man who knows me. He was standing on the kerb. He saw me. His name is Krail—Felix Krail!"

"Is he still there?" cried the men, as with one accord they left their chairs and dashed eagerly across to the window.

"Krail!" cried the Russian in alarm. "Where is he?"

"See!" the Italian pointed out, "see the man in black yonder, standing there near the kiosque, smoking a cigarette. He is still watching. He has seen us meet here!"

"Ah!" said the Baron in a hoarse voice, "I said so. To meet openly like this was far too great a risk. Nobody knew anything of Lénard et Morellet of the Boulevard des Capucines except that they were unimportant financiers. To-morrow the world will know who they really are. Messieurs, we are the victims of a very clever ruse. We have been so tricked that we have been actually summoned here and our identity disclosed!"