anything, I told you there was nothing very big—and see what a little thing the thread was! Before I came away from the pavilion I made sure that you were really the only man there with black court plaster on his fingers. I had noticed the hands of every man but two, and I made an excuse of borrowing something to see those. I saw your thin pretence of suspecting the betting men, and I played up to it. I have had a telegraphic report on your Exeter works this morning—a deserted cloth mills with nothing on it of yours but a sign-board, and only a deposit of rent paid. There they referred to the works here. Here they referred to the works there. It was very clever, really! Also I have had a telegraphic report of your make-up adventure this morning. Clarkson does it marvellously, doesn't he? And, by the way, that telegram bringing you down to Birmingham was not from your confederate here, as perhaps you fancied. It was from me. Thanks for coming so promptly. I managed to get a quiet look round here just before you arrived, and on the whole the conclusion I come to as to the 'Avalanche Bicycle and Tyre Company, Limited,' is this: A clever man, whom it gives me great pleasure to know,"