'Of course conclusions,' rejoined Mr Smith with a quite perceptible sneer, 'are usually very silly ones: in this instance especially so. My name, you ought to be aware, is Smith: X. Y. Z., whoever he may be, I expect in a few minutes. In just seventeen minutes,' added the exact man of business; 'for I, by letter, appointed him to meet me here at one o'clock precisely. My motive in seeking an interview with him, it is proper I should tell you, is the probability that he, like myself, is a sufferer by Owen Lloyd, and may not therefore object to defray a fair share of the cost likely to be incurred in unkennelling the delinquent, and prosecuting him to conviction; or, which would be far better, he may be in possession of information that will enable us to obtain completely the clue I already almost grasp. But we must be cautious: X. Y. Z. _may_ be a relative or friend of Lloyd's, and in that case, to possess him of our plans would answer no purpose but to afford him an opportunity of baffling them. Thus much premised, I had better at once proceed to read over to you a few particulars I have jotted down, which, you will perceive, throw light and colour over the suspicions I have been within these few days compelled to entertain. You are doubtless acquainted with the full particulars of the robbery at my residence, Brook Street, last Thursday fortnight?' 'Yes; especially the report of the officers, that the crime must have been committed by persons familiar with the premises and the general habits of the family.' 'Precisely. Now, have you your memorandum-book ready?' 'Quite so.' 'You had better write with ink,' said Mr Smith, pushing an inkstand and pens towards me. 'Important memoranda should never, where there is a possibility of avoiding it, be written in pencil. Friction, thumbing, use of any kind, often partially obliterates them, creating endless confusion and mistakes. Are you ready?' 'Perfectly.' 'Owen Lloyd, a native of Wales, and, it was understood, descended from a highly-respectable family there. About five feet eight; but I need not describe his person over again. Many years with us, first as junior, then as head clerk; during which his conduct, as regards the firm, was exemplary. A man of yielding, irresolute mind--if indeed a person can be said to really possess a mind at all who is always changing it for some other person's--incapable of saying "No" to embarrassing, impoverishing requests--one, in short, Mr Waters, of that numerous class of individuals whom fools say are nobody's enemies but their own, as if that were possible'---- 'I understand; but I really do not see how this bears upon'----