As the bags were brought in, they had been examined superficially and placed in Elk’s safe, and to accommodate them, the ordinary contents of the safe had been taken out and placed in other repositories. Each bag had been numbered and labelled with the name of the station from whence it was taken, the name of the officer who had brought it in, and particulars of its contents. These facts are important, as having a bearing upon what subsequently happened. Elk arrived at his office soon after ten o’clock, having enjoyed the first full night’s sleep he had had for weeks. He had, as his assistants, Balder and a detective-sergeant named Fayre, a promising young man, in whom Elk placed considerable trust. Dick Gordon arrived almost simultaneously with the detective chief, and they went into the building together. “There isn’t the ghost of a chance that we shall be rewarded for the trouble we’ve taken to trace these cheques,” said Elk, “and I am inclined to place more hope upon the possibility of the handbags yielding a few items which were not apparent at first examination. All these bags are lined, and there is a possibility that they have false bottoms. I am going to cut them up thoroughly, and if there’s anything left after I’m through, the Frogs are welcome to their secret.” In the office, Balder and the detective-sergeant were waiting, and Elk searched for his key. The production of the key of the safe was invariably something of a ritual where Elk was concerned. He gave Dick Gordon the impression that he was preparing to disrobe, for the key reposed in some mysterious region which involved the loosening of coat, waistcoat, and the diving into a pocket where no pocket should be. Presently the ceremony was through, Elk solemnly inserted the key and swung back the door. The safe was so packed with bags that they began to slide toward him, when the restraining pressure of the door was removed. One by one he handed them out, and Fayre put them on the table. “We’ll take that Paddington one first,” said Elk, pointing to the largest of the bags. “And get me that other knife, Balder.” The two men walked out into the passage, leaving Fayre alone. “Can you see the end of this, Captain Gordon?” asked Elk. “The end of the Frogs? Why, yes, I think I can. I could almost say I was sure.” They had reached the door of the clerk’s office and found Balder holding a murderous looking weapon in his hand. “Here it is——” he began, and the next instant Dick was flung violently to the floor, with Elk on top of him. There was the shrill shriek of smashed glass, a pressure of wind, and, through all this violence, the deafening thunder of an explosion.