ands and closing it. "I am alarmed, Mr. McNorton,"
he said, as he led the other back to his chair, "I won't disguise it. I
am seriously alarmed by what you have said. It is not the thought of
losing the money, oh dear, no. Punsonby's would not be ruined by--ah--a
paltry L40,000. It is, if I may be allowed to say so, the sinister
suggestion in your speech, inspector--superintendent I mean. Is it
possible"--he stood squarely in front of McNorton, his hands on his
hips, his eyeglass dangling from his fastidious fingers and his head
pulled back as though he wished to avoid contact with the possibility,
"is it possible that in my ignorance I have been assisting to finance a
scheme which is--ah--illegal, immoral, improper and contrary--ah--to the
best interests of the common weal?"

He shook his head as though he were unable to believe his own words.

"Everything is possible in finance," said McNorton with a smile. "I am
not saying that Doctor van Heerden's syndicate is an iniquitous one, I
have not even seen a copy of his articles of association. Doubtless you
could oblige me in that respect."

"I haven't got such a thing," denied Mr. White vigorously, "the
syndicate was not registered. It was, so to speak, a private concern."

"But the exploitation of Green Rust?" suggested the superintendent, and
the man's face lost the last vestige of colour it possessed.

"The Green Rust?" he faltered. "I have heard the phrase. I know
nothing----"

"You know nothing, but suspect the worst," said McNorton. "Now I am
going to speak plainly to you. The reason you know nothing about this
syndicate of van Heerden's is because you had a suspicion that it was
being formed for an illegal purpose--please don't interrupt me--you know
nothing because you did not want to know. I doubt even whether you
deceived yourself. You saw a chance of making big money, Mr. White, and
big money has always had an attraction for you. There isn't a fool's
scheme that was ever hatched in a back alley bar that you haven't
dropped money over. And you saw a chance here, more tangible than any
that had been presented to you."

"I swear to you----" began White.

"The time has not come for you to swear anything," said McNorton
sternly, "there is only one place where a man need take his oath, and
that is on the witness-stand. I will tell you this frankly, that we are
as much in the dark as you pretend to be. There is only one man who
knows or guesses the secret of