to his share of the capital of the concern, or at all
events to the interest on it. I have to express my astonishment that no
recognition of this fact has as yet been made by the syndicate.

"I may say that I have also come on some notes relative to the business
of the syndicate, which have filled me with anxiety and dismay, but
which I do not care to refer to in detail in writing.

"I think I should like an interview with you to hear your explanation of
these two matters, and to discuss what action is to be taken with regard
to them. You could perhaps find it convenient to call on me here, or I
could meet you in London if you preferred it.

"Yours faithfully,

"MADELEINE COBURN."

Madeleine made a grimace as she read this letter.

"Oh," she cried, "but how could I do that? I didn't find any notes, you
know, and besides--it would be so dreadful--acting as a decoy--"

"There's something more important than that," Merriman burst in
indignantly. "Do you realize, Mr. Inspector, that if Miss Coburn were to
send that letter she would put herself in very real danger?"

"Not at all," Willis answered quietly. "You have not heard my whole
scheme. My idea is that when Beamish gets that letter he will lay it
before Archer, and they will decide that they must find out what Miss
Coburn knows, and get her quieted about the money. They will say: 'We
didn't think she was that kind, but it's evident she is out for what
she can get. Let's pay her a thousand or two a year as interest on her
father's alleged share--it will be a drop in the bucket to us, but
it will seem a big thing to her--and that will give us a hold on her
keeping silence, if she really does know anything.' Then Beamish will
ask Miss Coburn to meet him, probably in London. She will do so, not
alone, but with some near friend, perhaps yourself, Mr. Merriman, seeing
you were at the clearing and know something of the circumstances. You
will be armed, and in addition I shall have a couple of men from the
Yard within call--say, disguised as waiters, if a restaurant is chosen
for the meeting. You, Miss Coburn, will come out in a new light at that
meeting. You will put up a bluff. You will tell Captain Beamish you know
he is smuggling brandy, and that the money he offers won't meet the
case at all. You must have 25,000 pounds down paid as the value of
your father's share in the concern, and in such a way as will raise no
suspicion that you knew what was in progress. T