t is a year ago to-day since you placed
the matter in our hands. . . . What? Well, without committing myself, I
think that I may venture to express a carefully qualified opinion that
the solution of the case is probably practically in the way of being
almost accomplished! . . . Yes, I shall expect you in half an hour.
Good-by!"

The Tracer of Lost Persons' eyes were twinkling as he hung up the
receiver and turned in his revolving chair to meet the pretty young
woman who had entered in response to his ring.

"The Carden case, if you please, Miss Smith," he said, smiling to
himself.

The young woman also smiled; the Carden case had become a classic in the
office. Nobody except Mr. Keen had believed that the case could ever be
solved.

"Safe-deposit box 108923!" said Miss Smith softly, pressing a speaking
tube to her red lips. In a few moments there came a hissing thud from
the pneumatic tube; Miss Smith unlocked it and extracted a smooth, steel
cylinder.

"The combination for that cylinder is A-4-44-11-X," observed the Tracer,
consulting a cipher code, "which, translated," he added, "gives us the
setting combination, One, D, R-R,-J-'24."

Miss Smith turned the movable disks at the end of the cylinder until
the required combination appeared. Then she unscrewed the cylinder head
and dumped out the documents in the famous Carden case.

"As Mr. Carden will be here in half an hour or so I think we had better
run over the case briefly," nodded the Tracer, leaning back in his chair
and composing himself to listen. "Begin with my preliminary memorandum,
Miss Smith."

"Case 108923," began the girl. Then she read the date, Carden's full
name, Victor Carden, a terse biography of the same gentleman, and added:
"Case accepted. Contingent fee, $5,000."

"Quite so," said Mr. Keen; "now, run through the minutes of the first
interview."

And Miss Smith unrolled a typewritten scroll and read:

"Victor Carden, Esquire, the well-known artist, called this evening at
6.30. Tall, well-bred, good appearance, very handsome; very much
embarrassed. Questioned by Mr. Keen he turned pink, and looked timidly
at the stenographer (Miss Colt). Asked if he might not see Mr. Keen
alone, Miss Colt retired. Mr. Keen set the recording phonograph in
motion by dropping his elbow on his desk."

A brief _resume_ of the cylinder records followed:

"Mr. Carden asked Mr. Keen if he (Mr. Keen) knew who he (Mr. Carden)
was. Mr. Keen replied that ever