aeroplane
circling above the tree-tops to the north, after which it turned
suddenly and made off in a bee-line south, in the direction whence I had
travelled.

I had actually seen the new invention!

Scarcely, however, had I recovered from my surprise when I heard, coming
from the direction of Grantown, the "pop-pop-pop" of a motor-cycle, and
across the bridge like a flash, in the direction the aerial machine had
taken, came the spy whom I had only that morning left an invalid in bed.

That evening, while writing a letter in the hotel, I had a surprise; I
was called to the telephone, and heard Ray's voice asking me to send the
car to him.

He told me that he was staying as Mr. Charles Black at the Star Hotel in
Kingussie, about twenty-eight miles distant, and promised to come over
to see me shortly.

I told him what I had seen that afternoon, and how the spy had been on
the alert, but to my surprise he only replied:

"Good! Keep on the watch. If what I expect is true, then we're on a big
thing. Keep in touch with me on the 'phone, and have a continuous eye on
your Mr. Goldstein."

I replied that I would, and that our friend had just returned.

Then he rang off.

Why was he at Kingussie, instead of assisting me?

Next day I was early astir, and before luncheon had covered many miles
on the motor-cycle. Ray had not asked me over to Kingussie. If he wanted
me, he would have said so.

Goldstein had not appeared downstairs, therefore after luncheon, I went
forth again, taking the road northward from Grantown, and just as I was
passing beneath the castellated railway-bridge about a mile and a half
from the hotel, I again suddenly saw straight before me the wonderful
Kershaw aeroplane. The car looked like a long, thin cylinder of bright
silvery metal, which I took to be aluminium, and in it I discerned two
men.

It travelled in a circle several times over the tree-tops, and then, just
as at Dulnan Bridge, it dived straight away over the dark pine forest
towards the lonely moors of Cromdale. Without a second's hesitation I
mounted and rode full speed after her, keeping her well in sight as I
went towards Deva.

Yet scarcely had I gone half a mile when I again heard behind me the
"pop-pop-pop" of another cycle, and turning, saw to my satisfaction the
man Goldstein, who had evidently seen the aeroplane, and was now bent
upon obtaining all details of it.

Going up the hill I drew away from him, but as we descen