came down on the man's wrist, and the
pistol clinked upon the stone floor.

"It's no use, John Clay," said Holmes, blandly, "you have no chance at
all."

"So I see," the other answered, with the utmost coolness. "I fancy that
my pal is all right, though I see you have got his coat-tails."

"There are three men waiting for him at the door," said Holmes.

"Oh, indeed. You seem to have done the thing very completely. I must
compliment you."

"And I you," Holmes answered. "Your red-headed idea was very new and
effective."

"You'll see your pal again presently," said Jones. "He's quicker at
climbing down holes than I am. Just hold out while I fix the derbies."

"I beg that you will not touch me with your filthy hands," remarked our
prisoner, as the handcuffs clattered upon his wrists. "You may not be
aware that I have royal blood in my veins. Have the goodness also, when
you address me, always to say 'sir' and 'please.'"

"All right," said Jones, with a stare and a snigger. "Well, would you
please, sir, march upstairs where we can get a cab to carry your
highness to the police station."

"That is better," said John Clay, serenely. He made a sweeping bow to
the three of us, and walked quietly off in the custody of the detective.

"Really, Mr. Holmes," said Mr. Merryweather, as we followed them from
the cellar, "I do not know how the bank can thank you or repay you.
There is no doubt that you have detected and defeated in the most
complete manner one of the most determined attempts at bank robbery that
have ever come within my experience."

"I have had one or two little scores of my own to settle with Mr. John
Clay," said Holmes. "I have been at some small expense over this matter,
which I shall expect the bank to refund, but beyond that I am amply
repaid by having had an experience which is in many ways unique, and by
hearing the very remarkable narrative of the Red-headed League."

* * * * *

"You see, Watson," he explained, in the early hours of the morning, as
we sat over a glass of whisky and soda in Baker Street, "it was
perfectly obvious from the first that the only possible object of this
rather fantastic business of the advertisement of the League, and the
copying of the 'Encyclopaedia,' must be to get this not over-bright
pawnbroker out of the way for a number of hours every day. It was a
curious way of managing it, but really it would be difficult to suggest
a better. T