ied Gratz.

"What do you gain by it?" asked the Sepoy.

"I cannot tell that in advance; possibly nothing," replied Gratz.

"That is likely," replied the Sepoy quietly.

"We shall see," exclaimed the detective. "I am working out a theory; I
need the assistance of all concerned."

"Look at me!" exclaimed the Sepoy abruptly. "I will credit you with
being something of a physiognomist. Do you see any evidences of
determination in my face?"

"And if I do?" queried Gratz.

"Only this," was the reply: "No matter what your object may be, I will
oppose it with all the resolution and dexterity at my command, if you
conduct your inquiries as you contemplate."

In reply Gratz offered an exasperating shrug of the shoulders.

"There is no mystery to be solved," he said. "I have no further facts to
discover; I know that you have managed to secure three separate bags of
coin from Raikes, and I am aware of your process."

"If you know all this," replied the other with curious calmness, "why do
you----"

The question was interrupted by the sound of approaching footsteps.

"Now!" exclaimed Gratz, as if with sudden determination, "I will try to
grant your request in part. Retire into your bedchamber, leave the door
open, and listen.

"I will place Raikes and his nephew where they cannot see you, but I
will sit here where I can note your slightest move."

The Sepoy arose hastily and entered the bedchamber, seating himself
according to the direction of the detective.

At that moment there was a knock upon the door.

In answer to the salutation of the detective Raikes and his nephew
entered.

Seating themselves in the chairs indicated, they awaited with intense
curiosity the proceedings of this enigmatical man.

Noting the alert questioning in the eyes of the young man, and the
half-awakened inquiry in the sordid countenance of Raikes, Gratz, in
order to prevent the intrusion of any disturbing remark upon his present
purpose, said impressively:

"I must ask you both to listen without interruption. When I want you to
speak I will question you"; and fastening his strange eyes upon the
blinking Raikes, he added: "Now we will proceed.

"You have lost four bags of coin."

"Three!" corrected Raikes, despite his instructions to silence.

"Pardon me," continued Gratz, "and please do not interrupt. I said
four--and here is the fourth," and he pointed to the bag upon the table.

The miser's jaw dropped helplessly, and he sta