Chick sat at the top of the stairs for nearly half an hour. Then Gabriel Leonard came out of Room M, and, with quick steps, hastened forward. He stopped near the stairs and stood for a few minutes looking, not at Chick, of whose existence he seemed to have no realization, but over and beyond him. Biting his lips nervously, he muttered: "I've got to go," and, turning, went to his room across the way. Chick noted with satisfaction that Leonard did not lock the door after entering the room. Nick stood at the foot of the stairs. Unobserved by Leonard, he had seen the manufacturer, and knew that the time to strike had come. Up the stairs he went, and, walking over to Leonard's room, opened the door and stepped in. Chick followed, the door was closed quickly and the key turned in the lock. Gabriel Leonard, sitting on his bed, glanced up when the two detectives entered, but without suspicion. But when the door was locked he sprang to his feet, a wild fear in his eyes. "What does this mean?" he demanded harshly, though his lips trembled and his body was shaking. "It is time the masks were discarded," replied the great detective soberly. "I am Nick Carter, and this is my assistant, Chick. We have been on your trail ever since the inquest. Now we have found you, what have you got to say for yourself? What do you know in reference to the disappearance of John Dashwood?" The manufacturer's countenance was gray with terror when Nick began his speech, but at the close this expression had gone. He sighed, as if with relief, as the last word was spoken. "I have laid myself open to suspicion," he said, as his wits began to return, "but the time for concealment has passed. I am now ready to tell the truth, and the whole truth, and"--his tone now became tinctured with acrimony--"when I shall have done so, I hope for some consideration at your hands." "You shall receive what you are entitled to," returned Nick coldly. "I am not your enemy. I represent society, and I am the friend of John Dashwood." Leonard's face brightened, in spite of the detective's words and tone. "Before I begin," he said, "I wish to ask one question. Did you, or the chief of police, or any of his officers, search my house the other day?" "Yes." "And found----" "Found your correspondence with Madame Ree, five thousand dollars in notes, a portion of the money Filbon stole and which John Dashwood took away that night, and muddy trousers and a rust-stained handkerchief." Leonard exhibited no surprise. "I thought so," he said. "Then the whole story must be told." "Yes," repeated Nick Carter, "the whole story must be told." The manufacturer resumed his seat on the bed. Nick and Chick found chairs. Nick sat near the door, with his back to it. Chick sat on the other side of Leonard, and near the window.