In Nick's pocket was the list of the notes which Luke Filbon had stolen. The detective drew it out, and, when comparison had been made, he saw that all the numbers of the notes found in Leonard's desk were to be found on the list prepared by Filbon. The conclusion was irresistible. Gabriel Leonard had received the stolen money from John Dashwood. He had retained five thousand, and had given fifteen thousand to Cora Reesey, alias Madame Ree. Cool reflection told the detective that there might be a flaw in this theory, for it would involve murder, the murder of John Dashwood. And why should Gabriel Leonard murder John Dashwood to obtain twenty thousand dollars, when the twenty thousand dollars was his own money, which he could obtain by the mere asking for it? There was something yet to be unearthed. The mystery was deepening. A crime had been committed, and Gabriel Leonard was implicated; how seriously, the future might disclose. The stains on the trousers indicated that Leonard had been in the mud of the river's shore, but he might have been there, he might have gone off in the boat, and still be innocent of the death of John Dashwood. But the stains on the handkerchief? Here was a problem of a different nature. It suggested something that increased the detective's gravity; something that seemed to connect itself with the statement that Leonard had pledged all his stock in the manufacturing company, and, therefore, might be practically bankrupt. After he had replaced the envelopes, with their contents, in the drawer and locked it, Nick went down-stairs. There was no one in the hall. Under the stairs was the telephone. Nick went to it and called up the office of the chief of police. At the conclusion of a talk that lasted over a minute, he hung up the receiver and walked out to the veranda. He hoped the housekeeper would not come out, for he wanted to postpone a certain explanation until circumstances should force him to make it. As luck would have it, he was not disturbed until more than half an hour had elapsed. Then arrived the chief of police and the chief of detectives. Nick spoke a few words when they came up, and then led the way to Leonard's rooms. There the evidence which Nick had discovered was shown to the local officers. The trousers, with the clayey mud and the handkerchief, together with the envelopes found in the drawer of the desk, were taken possession of by the chief of police. As the officers were going down-stairs, the housekeeper came into the hall. "A matter of business," said Nick, in an offhand manner. "Mr. Leonard will understand." "But I don't understand," spoke the good woman. "I can't explain now," said the detective gently. "All I can say is that we are acting in the interests of Mrs. John Dashwood." Sorely perplexed, the housekeeper saw the three agents of the law walk away.