At the moment that I saw Hayle enter my room, you might, as the saying goes, have knocked me down with a feather. Of all that could possibly have happened, this was surely the most unexpected! The man had endeavoured to get me out of his way in London, he had played all sorts of tricks upon me in order to put me off the scent, he had bolted from England because he knew I was searching for him, yet here he was deliberately seeking me out, and of his own free will putting his head into the lion’s mouth. It was as astounding as it was inexplicable.

“Good morning, Mr. Fairfax,” he said, bowing most politely to me as he spoke. “I hope you will forgive this early call. I only discovered your address an hour ago, and as I did not wish to run the risk of losing you I came on at once.”

“You appeared to be fairly desirous of doing so last week,” I said. “What has occurred to make you change your mind so suddenly?”

“A variety of circumstances have conspired to bring such a result about,” he answered. “I have been thinking the matter over, and not being able to determine the benefit of this hole-and-corner sort of game, I have made up my mind to settle it once and for all.”

“I am glad you have come to that way of thinking,” I said. “It will save us both an infinity of trouble. You understand, of course, that I represent Messrs. Kitwater and Codd.”

“I am well aware of it,” he replied, “and in common fairness to yourself, I can only say that I am sorry to hear it.”

“May I ask why you are sorry?”

“Because you have the honour to represent the biggest pair of scoundrels unhung,” he answered. “And in saying this, I pledge you my word that I am by no means overstepping the mark. I have known them both for a great many years and can therefore speak from experience.”

Before going further with him I was desirous of convincing myself upon one point.

“You knew them, then, when they were missionaries in China, I suppose?”

“That’s the first time I have ever heard what they were,” he replied. “Kitwater a missionary! You must forgive my laughing, but the idea is too ludicrous. I’ll admit he’s done a considerable amount of converting, but it has been converting other people’s money into his own pockets.”

He laughed at his own bad joke, and almost instantly grew serious once more. He was quite at his ease, and, though he must have known that I was familiar with the story, or supposed story of his villainy, seemed in no way ashamed.

“Now, Mr. Fairfax,” he went on, “I know that you are surprised to see me this morning, but I don’t think you will be when we have had a little talk together. First and foremost you have been told the story of the stones I possess?”

“I have heard Mr. Kitwater’s version of it,” I answered cautiously. “I know that you robbed my clients of them and then disappeared!”

“I did not rob them of the stones,” he said, not in the least offended by the bluntness of my speech. “It is plain that you do not know how we obtained them. Perhaps it’s as well that you should not, for there’s more behind, and you’d go and get them. No! We obtained them honestly enough at a certain place, and I was appointed to carry them. For this reason I secured them in a belt about my waist. That night the Chinese came down upon us and made us prisoners. They murdered our two native servants, blinded Kitwater, and cut out Codd’s tongue. I alone managed to effect my escape. Leaving my two companions for dead, I managed to get away into the jungle. Good Heavens! man, you can’t imagine what I suffered after that.”

I looked at him and saw that his face had grown pale at the mere recollection of his experiences.

“At last I reached the British outpost of Nampoung, on the Burmah-Chinese border, where the officers took me in and played the part of the good Samaritan. When I was well enough to travel, I made my way down to Rangoon, where, still believing my late companions to be dead, I shipped for England.”

“As Mr. George Bertram,” I said quietly. “Why under an assumed name when, according to your story, you had nothing to fear?”

“Because I had good and sufficient reason for so doing,” he replied. “You must remember that I had a quarter of a million’s worth of precious stones in my possession, and, well, to put it bluntly, up to that time I had been living what you might call a make-shift sort of life. For the future I told myself I was going to be a rich man. That being so I wanted to start with a clean sheet. You can scarcely blame me!”

I did not answer him on this point, but continued my cross-examination.

“You reached London, and sold some of the stones there, later on you disposed of some more in Amsterdam. Why did you refuse the dealers your name and address?”

Once more he was quite equal to the occasion.

“Because if I had told them, everybody would have got to know it, and, to be perfectly frank with you, I could not feel quite certain that Kitwater and Codd were really dead.”

“By that I am to presume that you intended if possible to swindle them out of their share?” I asked, not a little surprised by his admission.

“Once more, to be quite frank with you, I did. I have no desire to be rude, but I rather fancy you would have done the same had you been similarly situated. I never was much of a success in the moral business.”

I could well believe this, but I did not tell him so.

“When did you first become aware that they were in London?”

“On the day that they landed,” he answered. “I watched every ship that came in from Rangoon, and at last had the doubtful satisfaction of seeing my two old friends pass out of the dock-gates. Poor beggars, they had indeed had a hard time of it.”

“Then you could pity them? Even while you were robbing them?”

“Why not,” he answered. “There was no reason because I had the stones that I should not feel sorry for the pain they had suffered. I had to remember how near I’d been to it myself.”

This speech sounded very pretty though somewhat illogical.

“And pray how did you know that they had called in my assistance?”

“Because I kept my eyes on them. I know Mr. Kitwater of old, you see. I watched them go into your office and come out from a shop on the other side of the street.”

The whole mystery was now explained. What an amount of trouble I should have been spared had I only known this before?

“You did not approve then of my being imported into the case?”

“I distinctly disapproved,” he answered. “I know your reputation, of course, and I began to see that if you took up their case for them I should in all probability have to climb down.”

“It is doubtless for that reason you called upon me, representing yourself to be Mr. Bayley, Managing Director of that South American Mining Company? I can now quite understand your motive. You wanted to get me out of the way in order that I might not hunt you? Is that not so?”

“You hit the nail upon the head exactly. But you were virtuous, and would not swallow the bait. It would have simplified matters from my point of view if you had. I should not have been compelled to waste my money upon those two roughs, nor would you have spent an exceedingly uncomfortable quarter of an hour in that doorway in Holywell street.”

This was news indeed. So he had been aware of my presence there? I put the question to him.

“Oh! Yes! I knew you were there,” he said with a laugh. “And I can tell you I did not like the situation one bit. As a matter of fact I found that it required all my nerve to pretend that I did not know it. Every moment I expected you to come out and speak to me. I can assure you the failure of my plot was no end of a disappointment to me. I had expected to see the men I had sent after you, and instead I found you myself.”

“Upon my word, Mr. Hayle, if I cannot appreciate your actions I must say I admire your candour. I can also add that in a fairly long experience of — of----”

“Why not say of criminals at once, Mr. Fairfax?” he asked with a smile. “I assure you I shall not be offended. We have both our own views on this question, and you of course are entitled to air yours if it pleases you. You were about to observe that----”

“That in all my experience I had never met any one who could so calmly own to an attempt to murder a fellow-being. But supposing we now come to business.”

“With all my heart,” he answered. “I am as anxious as yourself to get everything settled. You will admit that it is rather hard lines on a man who can lay his hands upon a quarter of a million of money, to have a gentleman like yourself upon his trail, and, instead of being able to enjoy himself, to be compelled to remain continually in hiding. I am an individual who likes to make the most of his life. I also enjoy the society of my fellow-men.”

“May we not substitute ‘woman’?” I asked. “I am afraid your quarter of a million would not last very long if you had much to do with Mademoiselle Beaumarais.”

“So you have heard of her, have you?” he answered. “But you need have no fear. Dog does not eat dog, and that charming lady will not despoil me of very much! Now to another matter! What amount do you think your clients would feel inclined to take in full settlement of their claim upon me?”

“I cannot say,” I answered. “How many of the gems have you realized upon?”

“There were ninety-three originally,” he said when he had consulted his pocket-book, “and I have sold sixty, which leaves a balance of thirty-three, all of which are better than any I have yet disposed of. Will your clients be prepared to accept fifty thousand pounds, of course, given without prejudice.”

“Your generosity amazes me,” I answered. “My clients, your partners, are to take twenty-five thousand pounds apiece, while you get off, scot-free, after your treatment of them, with two hundred thousand.”

“They may consider themselves lucky to get anything at all,” he retorted. “Run your eye over the case, and see how it stands. You must know as well as I do that they haven’t a leg to stand upon. If I wanted to be nasty, I should say let them prove that they have a right to the stones. They can’t call in the assistance of the law----”

“Why not?”

“Because to get even with me it would be necessary for them to make certain incriminating admissions, and to call certain evidence that would entail caustic remarks from a learned judge, and would not improbably lead to a charge of murder being preferred against them. No, Mr. Fairfax, I know my own business, and, what is better, I know theirs. If they like to take fifty thousand pounds, and will retire into obscurity upon it, I will pay it to them, always through you. But I won’t see either of them, and I won’t pay a halfpenny more than I have offered.”

“You don’t mean to tell me that you are in earnest?”

“I am quite in earnest,” he answered. “I never was more so. Will you place my offer before them, or will you not?”

“I will write and also wire them to-day,” I said. “But I think I know exactly what they will say.”

“Point out the applicability of the moral concerning the bird in the hand. If they don’t take what they can get now, the time may come when there may be nothing at all. I never was a very patient man, and I can assure you most confidentially, that I am about tired of this game.”

“But how am I to know that this is not another trick on your part, and that you won’t be clearing out of Paris within a few hours? I should present a sorry picture if my clients were to accept your generous offer, and I had to inform them that you were not on hand to back it up.”

“Oh, you needn’t be afraid about that,” he said with a laugh. “I am not going to bilk you. Provided you play fair by me, I will guarantee to do the same by you. With the advantages I at present enjoy, I am naturally most anxious to know that I can move about Europe unmolested. Besides, you can have me watched, and so make sure of me. There is that beautiful myrmidon of yours, who is so assiduously making love to Mademoiselle Beaumarais’s maid. Give him the work.”

I was more than surprised to find that he knew about this business. He saw it, and uttered one of his peculiar laughs.

“He didn’t think I knew it,” he said. “But I did! His cleverness is a little too marked. He overacts his parts, and even Shakespeare will tell you how foolish a proceeding that is. If you doubt my word concerning my stay in Par............