ctually
know; but I make it a rule never to air theories."

Mr. Llewellyn John smiled. "Well, tell me what you actually know
then," he said.

"When Mr. Dene left his office at three minutes past six on Monday
evening, he stood for nearly a minute, as if making up his mind in what
direction to go. Just as he was about to turn and walk up Regent
Street a taxi crawled past him. The driver spoke to him and John Dene
got in and drove away."

"Kidnapped!" exclaimed Mr. Llewellyn John.

Malcolm Sage shrugged his shoulders.

"In which direction did he drive?" enquired Mr. Llewellyn John eagerly.

"Along Pall Mall, sir," was the reply. "Colonel Walton told you what
happened?"

Mr. Llewellyn John nodded. "And have you informed the police?" he
asked.

Malcolm Sage shook his head.

"Why?" enquired Mr. Llewellyn John eagerly.

"If my theory is right," said Sage, "it's unnecessary. If my theory's
wrong, it's useless. Believe me, sir, our best course is to continue
to boom John Dene's disappearance for all we are worth."

"But the _Destroyer_!" exclaimed Mr. Llewellyn John excitedly.

"You know the conditions, sir, that the island of Auchinlech was to be
left severely alone for four months."

"Do you imagine that Dene slipped off to the north to trick the
Germans?"

"That wouldn't trick them, sir," said Malcolm Sage quietly. "John Dene
would never have been allowed to reach Auchinlech alive. That was
settled. I may add that I have every reason to believe that the taxi
and its occupant did not go fifty miles from London."

"And that he is a prisoner?" Mr. Llewellyn John jumped from his chair.

Malcolm Sage inclined his head in the affirmative.

"Good heavens!" exclaimed Mr. Llewellyn John, "we must----"

"Depend entirely upon the advertisements," said Sage, rising. "You
will of course regard this as strictly confidential, and to be told to
no one. I cannot tell you how important it is." There was an
unaccustomed note of seriousness in Sage's voice, which did not fail to
impress Mr. Llewellyn John.

"But the questions in the House as to why we are offering this reward?"
persisted Mr. Llewellyn John. "What reply are we to make?"

"You might fall back on the old cliche, sir: 'Wait and see.'"

Mr. Llewellyn John smiled.

"That phrase," continued Sage, "was a great asset to one party, why
should it not be to another?"

"Look at this." Mr. Llewellyn John held out a slip of paper, which
Colonel W