n, and
listened with puckered brows to a recital of the substance of the
detective's preliminary report, made the afternoon before.

"Mr. Birnes left here rather abruptly," Mr. Latham explained in
conclusion, "saying he would see me again, either last night or
to-day. He has not appeared yet, and it may be that when he comes he
will be able to add materially to what we now know."

The huge German sat for a time with vacant eyes.

"Der gread question, Laadham," he observed at last, gravely, "iss
vere does Vynne ged dem."

"I know that--I know it," said Mr. Latham impatiently. "That is the
very question we are trying to solve."

"Und if we don'd solve him, Laadham, ve'll haf to do vatever as he
says," Mr. Schultze continued slowly. "Und ve _may_ haf to do
vatever as he says, anywhow."

"Put one hundred million dollars into diamonds in one year--just the
five of us?" demanded the other. "It's preposterous."

"Id _iss_ brebosterous," the German agreed readily; "but das iss no
argument." He was silent for a little while. "Vere does he ged dem?
Vere does he ged dem?" he repeated thoughtfully. "Do you believe,
Laadham, it vould be bossible to smuggle in dwenty, d'irty, ein
hundred million dollars of diamonds?"

"Certainly not," was the reply.

"Den, if dey were _nod_ smuggled in, dey are somewhere on der records
of der Custom House, ain'd id?"

Mr. Latham snapped his fingers with a sudden realization of this
possibility.

"Schultze, I believe that is our clew!" he exclaimed keenly.
"Certainly they would have been listed by the customs department; and
come to think of it, the tariff on them would have been enormous, so
enormous that--that--" and he lost the hopeful tone--"so enormous
that we must have heard of it when it became a matter of public
record."

"_Yah_," Mr. Schultze agreed. "Diamonds like dose dupligates of der
Koh-i-noor, der Orloff und der Regent could never haf passed through
der Custom House, Laadham, mitoud attracting attention, so?"

Mr. Latham acquiesced by a nod of his head; Mr. Schultze sat
regarding him through half-closed eyelids.

"Und if dey are _nod_ on der Custom House records," he continued
slowly, "und dey are _nod_ smuggled in, den, Laadham, _den--Mein
Gott_, man, don'd you see?"

"See what?"

"Den dey are produced in dis country!"

For a minute or two Mr. Latham sat perfectly still, gazing into the
other's eyes. First he was startled, then this gave way to
incredu