ed to have been bribed to join the conspiracy."

"That's rather an ingenious theory. Whose is it?"

"One of the men in the town; Gale did not mention his name. But he has
evolved a very workable theory--at least to my mind."

"Let me hear it all," Durham said.

"Well, when the bank had been robbed, and the second lot of gold was
hurried forward in time to save the situation, one part of the scheme
failed, for the sale of the property was completed. The Rider and his
mate--Eustace, as is generally believed--went out to Taloona to settle
up with the old man. They found you there and, to blind you as to the
real character of Dudgeon, they pretended to make him a prisoner. Then
you showed fight, Dudgeon was shot by the bullet intended for you, the
lamp was upset, and the place set on fire just as the troopers I sent
arrived on the scene."

"That sounds all right as far as it goes. Is there any more?"

"Oh, yes. Dudgeon being laid up delayed the settlement and the pair had
to wait--every time up to last night that the white horses have been
seen was on the Taloona road, you may remember, which adds colour to the
theory. Then they got tired of waiting and quarrelled between
themselves, with the result that one of them got killed. The general
idea is that they quarrelled over the division of the spoil, and, seeing
what you have discovered to-day, I am inclined to agree with it. Last
night's escapade was sheer bravado to mock at you and Brennan. What do
you think of the idea?"

"Oh, it's all right, as far as it goes. When my man walks into the trap
waiting for him I may be able to tell you whether it is the correct
solution, but, for the present, I should neither accept nor reject it."

"That is all you have to say about it?"

"That is all; and now I must get along to the station. I'll be back in
an hour or so to tell Harding where to meet me."

It was just on sunset when he returned to arrange for Harding to go out
with him about midnight. With Harding and Wallace he was standing at the
private entrance of the bank when, with a clatter, there dashed down the
road the horse and buggy in which Dudgeon had driven by during the
afternoon.

The horse was galloping with the reins trailing behind it, the
splash-board was smashed and hanging loose, striking the horse at every
stride and adding to its panic.

Durham and Harding rushed out to stop the runaway. It swerved to the
edge of the road, the buggy overbalanced and