"Or Garraboy took it first and passed it to one of them." "Why?" "For fear that he or she had been seen taking it the first time—to cover up the tracks. Whoever may have seen the ring taken would believe the original thief had restored it and kept quiet." "That’s ingenious, and I must say it may prove to have some bearing," said McKenna. "It’s likewise possible. But you gentlemen have missed the whole point of what I’ve been reading you." "In what way?" "There’s not one bit of evidence who took the ring," said McKenna, with a gesture at the recording sheets. "It shows who might have taken it—that’s true. Now, what it shows is this—what was working in every one’s mind the night of that party. You remember that it was on the night before Majendie’s failure, and that the whole question of the panic hung on whether he was going to pull through or not. Now, of every one who was there, with the exception of Miss Charters, Mrs. Bloodgood and Mr. Beecher here, every one was in Wall Street up to their necks, and if they knew what had happened to Majendie they could call the turn. Now, what happened? Bloodgood was getting his information from Maud Lille, who got it from Garraboy, who easy enough could get it from his sister, not out of treachery, but unconsciously, you may be sure. Well, all these three got the straight tip. That’s what the meeting next morning was about. Bloodgood never took the ring; that would be ridiculous; and Maud Lille, whatever her record for drifting, is not a crook. So those meetings were on the question of speculation, pure and simple. "Now, Mrs. Cheever got the news straight and Mr. Cheever didn’t, though he depended on his wife working Garraboy. Cheever bought stocks and was caught. That likewise shows there may be some interesting developments in that charming little family, particularly when he finds out that Mrs. Cheever sold and won. Now, what have we to go on? Cheever’s a crook—but if he took it, he did it alone. "Garraboy’s a crook and, following Mr. Gunther’s theory, he could have taken it alone or working with Mrs. Cheever. If there was any collusion, it was there. Gentlemen, I am only discussing possibilities." "If the ring was taken to raise money to gamble in Wall Street, then it lies between Cheever and Garraboy," said Gunther. "Say it this way: if Mrs. Cheever or Miss Lille took it, Garraboy would probably know—" "And Slade?" said Beecher. "If Slade took it, we’re losing our time. Aren’t we?" said McKenna. "McKenna, do you know?" said Gunther suddenly. "Unless I am very much mistaken, I’ll know in twenty-four hours," said McKenna, "I know this—who has the ring and when he had it, and this evening, about 5:30 in the afternoon, I ought to know from the gentleman in question, who pawned it—unless I learn sooner." "Unless Garraboy confesses," said Beecher.