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RAVENSDENE COURT

away in silence, evidently very thoughtful, and disappeared into the library.

"So there it all is," I said in conclusion, "and if anybody can make head or tail of it and get a definite and dependable theory, I am sure that Scarterfield, from a professional standpoint, will be glad to hear whatever can be said."

"It seems to me that Scarterfield is on the high road to a very respectable theory already," remarked Lorrimore. "So are you! The thing—to me—appears to be fairly plain. It starts out with the association of Baxter and the dishonest bank-manager. The bank-manager, left in charge of this old-fashioned bank at Blyth, where any supervision of his doings was no doubt pretty slack, and where he was, of course, fully trusted, examines the nature of the various matters committed to his care, and finds out the contents of those Forestburne chests. He then enters into a conspiracy with Baxter for purloining them and some other valuables—those jewels you mentioned, Middlebrook. It would not be a difficult thing to get them away from the bank premises without anyone knowing. Then the two conspirators secrete them in a safe and unlikely place, easily accessible, I take it, from the sea. Probably, they meant to remove them for good and all, just before the dishonest bank-manager's temporary residence in the town came to an end. But his fatal accident occurs. Then Master Baxter is placed in a nice fix! He knows that his fellow-criminal's sudden death will necessarily lead to some examination, more or less thorough, of the effects at the bank. That examination, to be sure, was made. But Baxter