He was a real personage--a living man--not a Firm--one known to the landlord of the Chambers, and to the laundress, if to nobody else. He did not live in the Chambers, but he used them for some business purposes; he sometimes called there and wrote. What did he write? Where was he, and what was he doing, when he was not at the Chambers? He might be one--leader or follower--of some secret gang. One has read of such gangs, especially in French novels, where the leaders are noble Dukes of the first rank, and Princesses--young, lovely, of the highest fashion. Why should there not be such a gang in London? Clever conspirators could go a very long way before they were even suspected. In this civilisation of cheques and registered shares and official transfers, property is so much defended that it is difficult to break through the armour. But there must be weak places in that armour. It must be possible for the wit of man to devise some plan by means of which property can be attacked successfully. Had he struck such a conspiracy? Thus. A man calling himself Edmund Gray gets a lease of Chambers by means of a forged letter in answer to a reference. It is convenient for certain conspirators, hereinafter called the company, to have an address, though it may never be used. The conspiracy begins by forging a cheque to his order for 720_l_. That was at the outset, when the conspirators were young. It was found dangerous, and the notes were therefore replaced in the safe. Note, that the company, through one or other of its members, has access to that safe. This might perhaps be by means of a key--in the evening, after office hours: or by some one who was about the place all day. Very good. The continued connection of some member of the Firm with Dering and Son is proved by the subsequent proceedings. After eight years, the company having matured their machinery, and perhaps worked out with success other enterprises, return to their first quarry, where they have the advantage of access to the letters, and can look over their disposition. They are thus enabled to conduct their successive _coups_, each bigger than the one before. And for four months the thing remains undiscovered. Having the certificates in their hands, what was to prevent them from selling the whole and dividing the proceeds? Nothing. Yet, in such a case they would disappear, and here was Edmund Gray still fearlessly at large. Why had he not got clear away long before?