Cron at his studio
before she went to the bank. The thief apparently was waiting for her
in front of the building. It was no casual snatch. I'm sure of that."

"Your reasoning is very good," Mr. Nichols praised. "Tell me, who
overheard this conversation between Mrs. Dillon and Hanley Cron?"

"Why, I did. There were some other people standing not far away, but I
doubt that they heard. At least they did not appear to be listening."

"So you're the only person who knew of the appointment," Mr. Nichols
said jokingly.

"Don't look at me like that," Penny laughed. "I swear I didn't take
the necklace even if I was on the scene."

"I'll not turn you over to the police without more evidence," the
detective promised. "I was just on my way to the station when you
dropped in."

"I didn't mean to detain you."

"The matter was of no great importance. I merely wanted to inquire if
the police had made any progress tracing the Dillon holdup men. It's
queer how they made such a neat get-away."

"I don't think the police are very alert," Penny grumbled. "After Mrs.
Dillon's handbag was snatched they were on the scene within ten
minutes, but I imagine the thief will never be captured."

"You expect results too quickly, Penny," her father smiled. "From what
you've told me I imagine this purse-snatcher is a member of an
organized gang. The theft was no casual affair. Every detail was
carefully planned."

"I wish you were on the case, Dad."

"I don't. I have enough troubles without wishing more upon myself. I
really am not----"

He broke off as the telephone rang. "Hello," he said gruffly into the
transmitter, then his face became sober as he silently listened. "Drop
into my office tomorrow at nine," he terminated the conversation.
"I'll give you my decision then."

"You sound like one of the judges of the Supreme Court," Penny chuckled
as her father hung up the receiver. "What's this momentous decision
you're to hand down?"

Mr. Nichols sat drumming his fingers against the edge of the desk.

"That was the Reliance Insurance Company. They want me to take the
Dillon case."

"You don't mean in regard to Mrs. Dillon's lost necklace?"

"Yes, that's it."

"But Dad, how does the insurance company figure in the case? The
pearls weren't insured."

"As it happens, they were. For fifteen thousand dollars."

"But I heard Mrs. Dillon say to you herself that the necklace had never
been insured."

"Yes.