"Yes," said Colonel Richmond, speaking over his shoulder to Nick. "I told you all about that, and I explained how the second key happened to be in my possession instead of Mrs. Pond's." "True," said Nick, apologetically, "that was not what I was asking about." At that moment he heard the click of the drawer as it was pulled open. "Here, wait for me!" he cried. "I should see everything." As he stepped forward Horace Richmond was just closing the little case which had held the diamond clasp. The colonel was turning away. "I am deeply disappointed," he said. "The clasp is there." As the colonel walked away with bowed head, Nick turned to Horace. The young man's face was a study. He looked as if he had seen a grave-yard full of ghosts. "Nick Carter," he whispered, "this is dreadful." "What?" "Hush! I had to fool him. I positively had to or he would have gone crazy." He poured the words into Nick's ear in an excited whisper. "I made him think the clasp was in the box, but it isn't. I substituted another piece. The clasp is gone. What shall we do?" He showed Nick the box. It contained nothing. Horace had removed the piece which he had used in the deception. "Good Heavens!" cried Horace. "He heard me." He pointed to the colonel, who stood like one who has been struck upon the head. "Gone!" he cried, rushing toward them. "You deceived me!" Well, they searched the drawer, and the clasp certainly was not there. Horace explained how he had deceived the colonel by quickly putting another piece of jewelry into the little case when he found it empty. "I am clever at sleight-of-hand," said he, "or I could never have worked it. I just flashed it before your eyes, uncle, and made you think that you saw the clasp. Forgive me; I thought it was the best." "I will forgive you, Horace," said Colonel Richmond, gently; "but now you must believe. And you, too, Mr. Carter. Here is proof positive." They locked the drawer and left the vault. In the ante-chamber Nick turned to Horace. "I suppose you'll want to knock my head off when I tell you what I now propose to do," said the detective. "But I think it ought to be done." "What is it?" asked Horace. "I think you ought to be searched." "Exactly my own idea," said Horace. "It is only fair to you. Proceed." Nick searched him. The diamond clasp was not found. Horace certainly did not have it. "I hope you're satisfied," he said to Nick. "You know perfectly well that I have had no opportunity to dispose of it. There wasn't much chance in that vault." Nick laughed. "I should say not," he replied. "I'm afraid we shall have to fall back upon the theory of the colonel." "No theory," cried he; "but the living truth, and now proven before you both. But let me ask, Mr. Carter, why you suspected my nephew of taking the clasp." "I didn't," replied Nick promptly. "I searched him in order to remove every possibility." "Surely he would have no motive for such an action."