"It shall be done! All shall happen as you say!"

"It had better," Willis rejoined, and with a menacing look he strode out
of the restaurant.

"The Gresham Hotel," he called to his driver, as he reentered his taxi.

His manner to the manageress of the Bedford Square hotel was very
different from that displayed to the German. Introducing himself as
an inspector from the Yard, he inquired the purpose of Archer's call.
Without hesitation he was informed. The distiller had engaged a private
sitting-room for a business interview which was to take place at eleven
o'clock on the following Tuesday between a Miss Coburn, a Mr. Merriman,
and a Captain Beamish.

"So far so good," thought Willis exultingly, as he drove off. "They're
walking into the trap! I shall have them all. I shall have them in a
week."

At the Yard he dismissed his taxi, and on reaching his room he found the
letter he was expecting from Madeleine. It contained that from Beamish,
and the latter ran:

"FERRIBY, YORKS,

"Saturday.

"DEAR Miss COBURN,-I have just received your letter of 25th inst., and I
hasten to reply.

"I am deeply grieved to learn that you consider yourself badly treated
by the members of the syndicate, and I may say at once that I feel
positive that any obligations which they may have contracted will be
immediately and honorably discharged.

"It is, however, news to me that your late father was a partner, as I
always imagined that he held his position as I do my own, namely, as a
salaried official who also receives a bonus based on the profits of the
concern.

"With regard to the notes you have found on the operations of the
syndicate, it is obvious that these must be capable of a simple
explanation, as there was nothing in the operations complicated or
difficult to understand.

"I shall be very pleased to fall in with your SUGGESTION that we should
meet and discuss the points at issue, and I would suggest 11 a.m. on
Tuesday, 10th prox., at the Gresham Hotel in Bedford Square, if this
would suit you.

"With kind regards,

"Yours sincerely,

"WALTER BEAMISH."

Willis smiled as he read this effusion. It was really quite well worded,
and left the door open for any action which the syndicate might decide
on. "Ah, well, my friend," he thought grimly, "you'll get a little
surprise on Tuesday. You'll find Miss Coburn is not to be caught as
easily as you think. Just you wait and see."

For the next three or four days Wi