, sir. It is inconceivable that it was taken after
eleven-thirty at night, since I understand that Mr. Hope and his wife
were both in the room from that hour until the loss was found out.
It was taken, then, yesterday evening between seven-thirty and
eleven-thirty, probably near the earlier hour, since whoever took it
evidently knew that it was there and would naturally secure it as early
as possible. Now, sir, if a document of this importance were taken at
that hour, where can it be now? No one has any reason to retain it. It
has been passed rapidly on to those who need it. What chance have we now
to overtake or even to trace it? It is beyond our reach."

The Prime Minister rose from the settee.

"What you say is perfectly logical, Mr. Holmes. I feel that the matter
is indeed out of our hands."

"Let us presume, for argument's sake, that the document was taken by the
maid or by the valet----"

"They are both old and tried servants."

"I understand you to say that your room is on the second floor, that
there is no entrance from without, and that from within no one could go
up unobserved. It must, then, be somebody in the house who has taken it.
To whom would the thief take it? To one of several international spies
and secret agents, whose names are tolerably familiar to me. There are
three who may be said to be the heads of their profession. I will begin
my research by going round and finding if each of them is at his post.
If one is missing--especially if he has disappeared since last night--we
will have some indication as to where the document has gone."

"Why should he be missing?" asked the European Secretary. "He would take
the letter to an Embassy in London, as likely as not."

"I fancy not. These agents work independently, and their relations with
the Embassies are often strained."

The Prime Minister nodded his acquiescence.

"I believe you are right, Mr. Holmes. He would take so valuable a prize
to head-quarters with his own hands. I think that your course of action
is an excellent one. Meanwhile, Hope, we cannot neglect all our other
duties on account of this one misfortune. Should there be any fresh
developments during the day we shall communicate with you, and you will
no doubt let us know the results of your own inquiries."

The two statesmen bowed and walked gravely from the room.

When our illustrious visitors had departed Holmes lit his pipe in
silence, and sat for some time lost in the deepe