ed engagingly. He knew exactly what constituted the great
attraction of his services.

"My position is this," he explained. "So far my work has been entirely
amateur. In that capacity I have averted one or two crimes, remedied
an occasional injustice, and now and then been of service to my
professional friend, Louis Carlyle. But there is no reason at all why
I should serve a commercial firm in an ordinary affair of business for
nothing. For any information I should require a fee, a quite nominal
fee of, say, one hundred pounds."

The director looked as though his faith in human nature had received a
rude blow.

"A hundred pounds would be a very large initial fee for a small firm
like this, Mr. Carrados," he remarked in a pained voice.

"And that, of course, would be independent of Mr. Carlyle's
professional charges," added Carrados.

"Is that sum contingent on any specific performance?" inquired the
manager.

"I do not mind making it conditional on my procuring for you, for the
police to act on, a photograph and a description of the thief."

The two officials conferred apart for a moment. Then the manager
returned.

"We will agree, Mr. Carrados, on the understanding that these things
are to be in our hands within two days. Failing that--"

"No, no!" cried Mr. Carlyle indignantly, but Carrados good-humouredly
put him aside.

"I will accept the condition in the same sporting spirit that inspires
it. Within forty-eight hours or no pay. The cheque, of course, to be
given immediately the goods are delivered?"

"You may rely on that."

Carrados took out his pocket-book, produced an envelope bearing
an American stamp, and from it extracted an unmounted print.

"Here is the photograph," he announced. "The man is called Ulysses K.
Groom, but he is better known as 'Harry the Actor.' You will find the
description written on the back."

Five minutes later, when they were alone, Mr. Carlyle expressed his
opinion of the transaction.

"You are an unmitigated humbug, Max," he said, "though an amiable one,
I admit. But purely for your own private amusement you spring these
things on people."

"On the contrary," replied Carrados, "people spring these things on
me."

"Now this photograph. Why have I heard nothing of it before?"

Carrados took out his watch and touched the fingers.

"It is now three minutes to eleven. I received the photograph at
twenty past eight."

"Even then, an hour ago you assured me that y