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gone, and I badly want it back. Of course, the police are hard at work at Claridge's, but I'm not quite satisfied. I have been there myself for two or three hours, and can't see that they know any more about it than I do myself. Then, of course, the police, naturally and properly enough from their point of view, look first to find the criminal—regarding the recovery of the property almost as a secondary consideration. Now, from my point of view, the chief consideration is the property. Of course I want the thief caught, if possible, and properly punished; but still more, I want the cameo."

"Certainly it is a considerable loss. Five thousand pounds——"

"Ah, but don't misunderstand me. It isn't the monetary value of the thing that I regret. As a matter of fact, I am indemnified for that already. Claridge has behaved most honourably—more than honourably. Indeed, the first intimation I had of the loss was a cheque from him for £5,000, with a letter assuring me that the restoration to me of the amount I had paid was the least he could do to repair the result of what he called his unpardonable carelessness. Legally, I'm not sure that I could demand anything of him, unless I could prove very flagrant neglect indeed to guard against theft."

"Then I take it, Lord Stanway," Hewitt observed, "that you much prefer the cameo to the money?"

"Certainly. Else I should never have been willing to pay the money for the cameo. It was an enormous price—perhaps much above the market value, even for such a valuable thing; but I was particularly anxious that it should not go out of the country. Our public collections here are not so fortunate as they should be in the possession of the very finest examples of that class of work. In short, I had determined on the cameo, and, fortunately, happen to be able to carry out determinations of that sort without regarding an extra thousand pounds or so as an obstacle. So that, you see, what I want is not the value, but the thing itself. Indeed, I don't think I can possibly keep the money Claridge has sent me—the affair is more his misfortune than his fault. But I shall say nothing about returning it for a little while: it may possibly have the effect of sharpening everybody in the search."

"Just so. Do I understand that you would like me to look into the case independently, on your behalf?"

"Exactly. I want you, if you can, to approach the matter entirely from my point of view—your sole object being to find the cameo. Of course, if you happen on the thief as well, so much the better. Perhaps, after all, looking for the one is the same thing as looking for the other?"

"Not always; but usually it is, of course—even if they are not together, they certainly have been at one time, and to have one is a very long step toward having the other. Now, to begin with, is anybody suspected?"

"Well, the police are reserved, but I believe the fact is they've nothing to say. Claridge won't admit that he suspects anyone, though he believes that whoever it was must have watched him yesterday evening through the back window of his room, and must have seen him put the cameo away in his desk; because the thief would seem to have gone straight to the place. But I half fancy that, in his inner mind, he is inclined to suspect one of two people. You see, a robbery of this sort is different from others. That cameo would never be stolen, I imagine, with the view of its being sold—it is much too famous a thing; a man might as well walk about offering to sell the Tower of London. There are only a very few people who buy such things, and every one of them knows all about it. No dealer would touch it—he could never even show it, much less sell it, without being called to account. So that it really seems more likely that it has been taken by somebody who wishes to keep it for mere love of the thing—a collector, in fact—who would then have to keep it secretly at home, and never let a soul beside himself see it, living in the consciousness that at his death it must be found and his theft known; unless, indeed, an ordinary vulgar burglar has taken it without knowing its value."

"That isn't likely," Hewitt replied. "An ordinary burglar, ignorant of its value, wouldn't have gone straight to the cameo and have taken it in preference to many other things of more apparent worth, which must be lying near in such a place as Claridge's."

"True—I suppose he wouldn't. Although the police seem to think that the breaking in is clearly the work of a regular criminal—from the jemmy marks, you know, and so on."

"Well, but what of the two people you think Mr. Claridge suspects?"

"Of course, I can't say that he does suspect them—I only fancied from his tone that it might be possible; he himself insists that he can't in justice suspect anybody. One of these men is Hahn, the travelling agent who