"Tuesday evening!" I exclaimed. "And this is Thursday morning. Why didn't you go down yesterday?"
"Because I made a blunder, my dear Watson—which is, I am afraid, a more common occurrence than any one would think who only knew me through your memoirs. The fact is that I could not believe it possible that the most remarkable horse in England could long remain concealed, especially in so sparsely inhabited a place as the north of Dartmoor. From hour to hour yesterday I expected to hear that he had been found, and that his abductor was the murderer of John Straker. When, however, another morning had come, and I found that beyond the arrest of young Fitzroy Simpson nothing had been done, I felt that it was time for me to take action. Yet in some ways I feel that yesterday has not been wasted."
"You have formed a theory, then?"
"At least I have got a grip of the essential facts of the case. I shall enumerate them to you, for nothing clears up a case so much as stating it to another person, and I can hardly expect your co-operation if I do not show you the position from which we start."
I lay back against the cushions, puffing at my cigar, while Holmes, leaning forward, with his long, thin forefinger checking off the points upon the palm of his left hand, gave me a sketch of the events which had led to our journey.
"Silver Blaze," said he, "is from the Somomy stock, and holds as brilliant a record as his famous ancestor. He is now in his fifth year, and has brought in turn each of the prizes of the turf to Colonel Ross, his fortunate owner. Up to the time of the catastrophe he was the first favorite for the Wessex Cup, the betting being three to one on him. He has always, however, been a prime favorite with the racing public, and has never yet disappointed them, so that even at those odds enormous sums of money have been laid upon him. It is obvious, therefore, that there were many people who had the strongest interest in preventing Silver Blaze from being there at the fall of the flag next Tuesday.
