ink!"

"By Jove! You have, have you!" cried Juve in a bantering tone, and with
a quizzical look. "Let us see it!... Explain!..."

Regardless of his friend's scepticism, Fandor proceeded to expound his
theory.

"I did as you suggested. I was present at the trial of the smugglers: I
listened to Counsel's speech for the defence, but judged it useless to
stay to the end. When Maitre Henri Robart began a disquisition on the
facts, I left. Here is what I have noted:

"Someone owns a house in the Isle of the Cite; a house which is a
meeting place for receivers of stolen goods, ruffians, robbers, and
vagabonds: a house possessing underground cellars of no ordinary kind.
Now, this Someone never mentions this strange house of his, though he
must be aware of its existence; then this Someone knows intimately
several, at least, of the people more or less involved in the Jacques
Dollon affair, and--one may boldly assert it--the Dollon plot was
hatched in a cellar, in a sewer of the Cite.

"One of two things!...

"Either this personage is timorous, is afraid of being compromised,
and does not consider in what an awkward position this coincidence
places him--if that be so, he is a singularly thick-headed
individual--or--well--Monsieur Thomery ... you are the most rascally
scoundrel it has been my lot to admire, up to now! But I assure you, we
know how to get even with you! From the moment we have established, in
the first place, a connection between all these affairs--that they
indubitably hang together; secondly, that you, Monsieur Thomery, are the
connecting link...."

"No," interrupted Juve, sharply....

"What is that you say?..."

"I say--_no_."

"What?" cried Fandor, taken aback. He stared at Juve, who continued to
smoke his cigarette, unmoved. But Fandor was obstinately set on stating
his point of view.

"The primary cause of the Dollon affair seems to be the suicide
of the Baroness de Vibray, a suicide probably owing to a love
disappointment--the old lady had been forsaken by her lover--Monsieur
Thomery!..."

"No."

Juve's denial slightly annoyed Fandor, but did not stop him.

"I ask: was the man who robbed Sonia Danidoff one of the guests? It is
very unlikely; for, not only were the clothes of all those present
searched, but all Thomery's guests were known, well known!..."

"No!"

Fandor bit his lip.

"It's true, Juve! You were there yourself, and no one penetrated your
disguise, and discovered who you