ol from around the thin blade of a marvellous-looking
stiletto, on which was also a long stain of encrusted blood.

"There is a handle," he went on, "which is perhaps the most ingenious
thing of all. You touch a spring here, and behold!"

He pressed down two tiny supports which opened upon hinges about four
inches from the top of the handle. There was now a complete hilt.

"With this little weapon," he explained, "the point is so sharpened
and the steel so wonderful that it is not necessary to stab. It has the
perfection of a surgical instrument. You have only to lean it against
a certain point in a man's anatomy, lunge ever so little and the whole
thing is done. Come here, Mr. Ledsam, and I will show you the exact
spot."

Francis made no movement. His eyes were fixed upon the weapon.

"If I had only known!" he muttered.

"My dear fellow, if you had," the other protested soothingly, "you know
perfectly well that it would not have made the slightest difference.
Perhaps that little break in your voice would not have come quite so
naturally, the little sweep of your arm towards me, the man whom a
moment's thoughtlessness might sweep into Eternity, would have been a
little stiffer, but what matter? You would still have done your best and
you would probably still have succeeded. You don't care about trifling
with Eternity, eh? Very well, I will find the place for you."

Hilditch's fingers strayed along his shirt-front until he found a
certain spot. Then he leaned the dagger against it, his forefinger and
second finger pressed against the hilt. His eyes were fixed upon his
guest's. He seemed genuinely interested. Francis, glancing away for a
moment, was suddenly conscious of a new horror. The woman had leaned
a little forward in her easy-chair until she had attained almost a
crouching position. Her eyes seemed to be measuring the distance from
where she sat to that quivering thread of steel.

"You see, Ledsam," his host went on, "that point driven now at that
angle would go clean through the vital part of my heart. And it needs no
force, either--just the slow pressure of these two fingers. What did you
say, Margaret?" he enquired, breaking off abruptly.

The woman was seated upon the very edge of her chair, her eyes rivetted
upon the dagger. There was no change in her face, not a tremor in her
tone.

"I said nothing," she replied. "I did not speak at all. I was just
watching."

Hilditch turned back to his guest.