To both Charlie and Max—though now separated by the breadth of Europe—they had been breathless, anxious, never-to-be-forgotten days.

The ominous words of Lorena ever recurred to him. Apparently the girl knew far more than she had told him, and her declaration that confirmation of Adams’s charges would be found beyond that white-enamelled door in Park Lane gripped his senses. He could think of nothing else.

She had left him in the Rue de Rivoli, outside the Gardens, refusing her address or any further account of herself. She had warned him—that was, she said, all-sufficient.

He blamed himself a thousand times for not having followed her; for not having sought some further information concerning the peril of old Sam Statham.

Yet the afternoon following, just as he was about to drive from the Grand Hotel to the Gare du Nord, to return to London, one of the clerks from Old Broad Street had arrived, bearing a letter from the head of the firm, giving him instructions to proceed to Servia at once and transact certain business with the Government regarding certain copper concessions in the district of Kaopanik. The deal meant the introduction of a considerable amount of British capital into Servia, and had support from his Majesty King Peter downwards. Indeed, all were in favour save the Opposition in the Skuptchina, or Parliament, a set of unruly peasants who opposed every measure the Pashitch Government put forward.

The business brooked no delay. Therefore Charlie, that same night, entered the Orient express, that train of dusty wagons-lit which runs three times a week between Paris and Constantinople, and three days later arrived in Belgrade, the Servian capital.

He was no stranger in that rather pleasant town, perched high up at the junction of the Save with the broad Danube. The passport officer at Semlin station recognised him, and gave him a visa at once, and on alighting at Belgrade the little ferret-eyed man idling outside the station did not follow him, for he knew him by sight and was well aware that the Grand Hotel was his destination.

There are more spies in Belgrade than in any other city in Europe. So much foreign intrigue is ever in progress that the Servian authorities are compelled to support a whole army of secret agents to watch and report. Hence it is that the stranger, from the moment he sets foot in Belgrade to the moment he leaves it, is watched, and his every movement noted and reported. Yet all is so well managed that the foreigner is never aware of the close surveillance upon him, and Belgrade is as gay a town in the matter of entertaining and general freedom as, well, as any other you may choose to name.

During the days when, owing to the unfortunate events which terminated the reign of the half-imbecile King Alexander and the designing woman who became his Queen, when England had suspended diplomatic negotiations, the great stakes held in the country by Statham Brothers were in a somewhat precarious condition. For two years Servian finance had been in anything but a flourishing condition, but now, under the rule of King Peter, who had done his very utmost to reinstate his country in its former flourishing position, the confidence of Europe had been restored, and Statham Brothers were ready to make further investments.

In Charles Rolfe the great millionaire had the most perfect confidence. The letter he had sent him to Paris was clear and explicit in its instructions. If the concessions were confirmed by the Prime Minister Pashitch and the Council, a million dinars (or francs) were already deposited in the National Bank of Servia, and could be drawn at an hour’s notice upon Charlie’s signature.