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. The method was
no doubt suggested to Clay's ingenious mind by the color of his
accomplice's hair. The four pounds a week was a lure which must draw him,
and what was it to them, who were playing for thousands? They put in the
advertisement, one rogue has the temporary office, the other rogue incites
the man to apply for it, and together they manage to secure his absence
every morning in the week. From the time that I heard of the assistant
having come for half wages, it was obvious to me that he had some strong
motive for securing the situation."

"But how could you guess what the motive was?"

"Had there been women in the house, I should have suspected a mere vulgar
intrigue. That, however, was out of the question. The man's business was a
small one, and there was nothing in his house which could account for such
elaborate preparations, and such an expenditure as they were at. It must
then be something out of the house. What could it be? I thought of the
assistant's fondness for photography, and his trick of vanishing into the
cellar. The cellar! There was the end of this tangled clew. Then I made
inquiries as to this mysterious assistant, and found that I had to deal
with one of the coolest and most daring criminals in London. He was doing
something in the cellar-