She paused for Nick Carter to make some remark. He merely bowed gravely. Mrs. van Raikes had spoken the truth, so there was nothing to be added. He certainly was not the man to be sent after a stolen watch, unless there where extraordinary circumstances surrounding the theft. “The watch is worth four or five thousand dollars, I understand,” continued the lady. “But that is not the point. It was the property of a very distinguished man, who was one of my most honored guests.” “Yes?” “The watch was a present to him from his father, who was a monarch----” “A king, do you mean?” asked Nick, with a sudden accession of interest. “Well, I believe they called him a prince. He was a ruler of a small country on the Caribbean Sea--a place called Joyalita. It was settled by some Spanish grandees several centuries ago, and it has always been nominally a monarchy ever since.” “Nominally?” asked Nick. “Do you mean that it is not one in reality?” “I don’t know. I have heard people say that the South American and Central American republics would not permit it to exist so near to them if it really were what it calls itself. It has a constitutional government, and is more nearly a republic than some other countries that call themselves such.” “I see,” interposed Nick Carter, anxious to help the lady out of the morass in which she was floundering. “At all events, the prince is the head of the government, and, as I understand it, he takes his position by right of heredity, instead of election?” “Yes, Mr. Carter, that is it,” assented Mrs. van Raikes, with a sigh of relief. “You have explained it exactly.” “Who did you say it was who lost it?” She had not said anybody, but the detective was curious to know who was the owner of the watch that had come so strangely into his hands, and which watch was put away securely in the safe in his library at that very moment. “It was Prince Miguel, a cousin of the reigning prince, Marcos----” “Marcos?” interrupted Nick involuntarily. “Yes. Do you know him, Mr. Carter?” “I can’t say I know him. In fact, I doubt whether I ever saw him. But I have heard his name.” “That’s quite likely,” smiled the lady. “You detectives know everybody, of course.” “It is our business. Was it Prince Miguel who told you of his loss?” “No. The prime minister of Joyalita, Don Solado. He came here less than an hour ago. As soon as he had gone, I telephoned you. And, by the way, I must thank you again for coming so quickly. I know what a favor I was asking in suggesting that you touch this case at all.” “Why didn’t he complain to the hotel management?” asked Nick. “You tell me Prince Miguel discovered his loss soon after midnight on the night of the ball. Why did he wait so long before announcing his loss?” “I can’t say, Mr. Carter,” returned Mrs. van Raikes, shrugging her shoulders. “These princes and their advisers are not like us. They have their own ways.” “He does not suspect anybody, you say?”