Bay, about two years ago last August, as nearly as I can remember."

"If you still had the envelope, we could obtain the exact date from
the postmark," Ramon suggested significantly. "The letter I see is
only headed 'Saturday.'"

"Yes, it is unfortunate that I did not keep it," the magnate retorted
a little drily. "It was by the merest, most fortunate chance that the
letter itself came to light. However, I cannot see at this late date
what difference it could possibly make when the letter was mailed,
since it establishes beyond any possibility of doubt the fact that it
_was_ mailed. As to the matter of the negotiation of the loan, I would
prefer that you apply to Mr. Moore himself for the particulars
concerning it. I am sure that he will be quite as glad as I have been
to give you such definite information as he possesses."

This time the dismissal could not be ignored, and Ramon Hamilton took
his departure, but not before he had marked well the particular drawer
within the safe from which the letter had been taken.

As he went down the corridor, a saucy, red-cheeked young woman with
business briskness in her manner came from an inner office and smiled
boldly at him. She was Loretta Murfree, the new filing clerk who had
been installed only that morning in Mr. Mallowe's office.

Had Ramon known her to be the protegee of Anita Lawton and the spy of
Henry Blaine, he might have glanced at her a second time.

The young man proceeded straight to the offices of Charlton Moore,
the banker, and found that an interview was readily granted him.
Mr. Moore remembered the incident of the loan, and his private
accounts showed that it had been made on the sixteenth of August two
years previously.

"Mr. Mallowe arranged the matter with you for Mr. Lawton, did he not?"
Ramon asked.

"Yes, it was a purely confidential affair. Mr. Carlis came with
him to interview me. They did not at first tell me that Mr. Lawton
positively desired the loan, but they made tentative arrangements
asking if I would be in a position to give it to him should he desire
it, and they said they came to me at this early date desiring to make
no definite statement. Mr. Lawton had told them that once before I had
accommodated him by carrying a note confidentially at his request.
Of course I did not care to commit myself, as you can readily
understand, Mr. Hamilton, until I was assured the proposition was
bona fide.

"Mr. Mallowe and Mr. Carlis suggested tha