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save then by another slight inclination of his head, but his eyes had grown anxious and troubled.

“Not unnaturally,” Merriman resumed, “I begged her to marry me, but she saw fit to decline. In view of the admission she had just made, I was somewhat surprised that her refusal was so vehement. I pressed her for the reason, but she utterly declined to give it. Then an idea struck me, and I asked her if it was because she feared that your connection with this syndicate might lead to unhappiness. At first she would not reply nor give me any satisfaction, but at last by persistent questioning, and only when she saw I knew a great deal more about the business than she did herself, she admitted that that was indeed the barrier. Not to put too fine a point on it—it is better, is it not, sir, to be perfectly candid—she is living in terror and dread of your arrest, and she won't marry me for fear that if it were to happen she might bring disgrace on me.”

Mr. Coburn had not moved during this speech, except that his face had become paler and the look of cold menace in his eyes seemed charged with a still more vindictive hatred. Then he answered slowly:

“I can only assume, Mr. Merriman, that your mind has become temporarily unhinged, but even with such an excuse, you cannot really believe that I am going to wait here and listen to you making such statements.”

Merriman bent forward.

“Sir,” he said earnestly, “I give you my word of honor and earnestly ask you to believe that I am approaching you as a friend. I am myself an interested party. I have sought this interview for Madeleine's sake. For her sake, and for her sake only, I have come to ask you to discuss with me the best way out of the difficulty.”

Mr. Coburn rose abruptly.

“The best way out of the difficulty,” he declared, no longer attempting to disguise the hatred he felt, “is for you to take yourself off and never to show your face here again. I am amazed at you.” He took his automatic pistol out of his pocket. “Don't you know that you are completely in my power? If I chose I could shoot you like a dog and sink your body in the river, and no one would ever know what had become of you.”

Merriman's heart was beating rapidly. He had the uncomfortable suspicion that he had only to turn his back to get a bullet into it. He assumed a confidence he was far from feeling.

“On the contrary, Mr. Coburn,” he said quietly, “it is you who are in our power. I'm afraid you don't quite appreciate the situation. It is true you could shoot me now, but if you did, nothing could save you. It would be the rope for you and prison for your confederates, and what about your daughter then? I tell you, sir, I'm not such a fool as you take me for. Knowing what I do, do you think it likely I should put myself in your power unless I knew I was safe?”

His assurance was not without its effect. The other's face grew paler and he sat heavily down in his chair.

“I'll hear what you have to say,” he said harshly, though without letting go his weapon.

“Then let me begin at the beginning. You remember that first evening I was here, when you so kindly supplied me with petrol? Sir, you were correct when you told Captain Beamish and Mr. Bulla that I had noticed the changing of the lorry number plate. I had.”

Mr. Coburn started slightly, but he did not speak, and Merriman went on:

“I was interested, though the thing conveyed nothing to me. But some time later I mentioned it casually, and Hilliard, who has a mania for puzzles, overheard. He suggested my joining him on his trip, and calling to see if we could solve it. You, Mr. Coburn, said another thing to your friends—that though I might have noticed about the lorry, you were certain neither Hilliard nor I had seen anything suspicious at the clearing. There, sir, you were wrong. Though at that time we could not tell what was going on, we knew it was something illegal.”

Coburn was impressed at last. He sat motionless, staring at the speaker. As Merriman remained silent, he moved.

“Go on,” he said hoarsely, licking his dry lips.

“I would ask you please to visualize the situation when we left. Hilliard believed he was on the track of a criminal organization, carrying on illicit operations on a large scale. He believed that by lodging with the police the information he had gained, the break-up of the organization and the capture of its members would be assured, and that he would stand to gain much kudos. But he did not know what the operations were, and he hesitated to come forward, lest by not waiting and investigating further he should destroy his chance of handing over to the authorities a complete case. He was therefore exceedingly keen that we should carry on inquiries at what I may call the English end of the business. Such was Hilliard's attitude. I trust I make myself clear.”

Again Coburn nodded without speaking.

“My position was different. I had by that time come to care for Madeleine, and I saw the effect any disclosure must have on her. I therefore wished things kept secret, and I urged Hilliard to carry out his second idea and investigate further so as to make his case complete. He made my assistance a condition of agreement, and I therefore consented to help him.”

Mr. Coburn was now ghastly, and was listening with breathless earnestness to his visitor. Merriman realized what he had always suspected, that the man was weak and a bit of a coward, and he began to believe his bluff would carry him through.

“I need not trouble you,” he went on, “with all the details of our search. It is enough to say that we found out what we wanted. We went to Hull, discovered the wharf at Ferriby, made the acquaintance of Benson, and witnessed what went on there. We know all about Archer and how he plants your stuff, and Morton, who had us under observation and whom we properly tricked. I don't claim any credit for it; all that belongs to Hilliard. And I admit we did not learn certain small details of your scheme. But the main points are clear—clear enough to get convictions anyway.”

After a pause to let his words create their full effect, Merriman continued:

“Then arose the problem that had bothered us before. Hilliard was wild to go to the authorities with his story; on Madeleine's account I still wanted it kept quiet. I needn't recount our argument. Suffice it to say that at last we compromised. Hilliard agreed to wait for a month. For the sake of our friendship and the help I had given him, he undertook to give me a month to settle something about Madeleine. Mr. Coburn, nearly half that month is gone and I am not one step farther on.”

The manager wiped the drops of sweat from his pallid brow. Merriman's quiet, confident manner, with its apparent absence of bluff or threat, had had its effect on him. He was evidently thoroughly frightened, and seemed to think it no longer worth while to plead ignorance. As Merriman had hoped and intended, he appeared to conclude that conciliation would be his best chance.

“Then no one but you two know so far?” he asked, a shifty, sly look passing over his face.

Merriman read his thoughts and bluffed again.

“Yes and no,” he answered. “No one but we two know at present. On the other hand, we have naturally taken all reasonable precautions. Hilliard prepared a full statement of the matter which we both signed, and this he sent to his banker with a request that unless he claimed it in person before the given date, the banker was to convey it to Scotland Yard. If anything happens to me here, Hilliard will go at once to the Yard, and if anything happens to him our document will be sent there. And in it we have suggested that if either of us disappear, it will be equivalent to adding murder to the other charges made.”

It was enough. Mr. Coburn sat, broken and completely cowed. To Merriman he seemed suddenly to have become an old man. For several minutes silence reigned, and then at last the other spoke.

“What do you want me to do?” he asked, in a tremulous voice, hardly louder than a whisper.

Merriman's heart leaped.

“To consider your daughter, Mr. Coburn,” he answered promptly. “All I want is to marry Madeleine, and for her sake I want you to get out of this thing before the crash comes.”

Mr. Coburn once more wiped the drops of sweat from his forehead.

“Good lord!” he cried hoarsely. “Ever since it started I have been trying to get out of it. I was forced into it against my will and I would give my soul if I could do as you say and get free. But I can't—I can't.”

He buried his head in his hands and sat motionless, leaning on his desk.

“But your daughter, Mr. Coburn,” Merriman persisted. “For her sake something must be done.”

Mr. Coburn shook his clenched fists in the air.

“Damnation take you!” he cried, with a sudden access of rage, “do you think I care about myself? Do you think I'd sit here and listen to you talking as you've done if it wasn't for her? I tell you I'd shoot you as you sit, if I didn't know from my own observation that she is fond of you. I swear it's the only thing that has saved you.” He rose to his feet and began pacing jerkily to and fro. “See here,” he continued wildly, “go away from here before I do it. I can't stand any more of you at present. Go now and come back on Friday night at the same time, and I'll tell you of my decision. Here's the key,” he threw it down on the desk. “Get out quick before I do for you!”

Merriman was for a moment inclined to stand his ground, but, realizing that not only had he carried his point as far as he could have expected, but also that his companion was in so excited a condition as hardly to be accountable for his actions, he decided discretion was the better part, and merely saying: “Very well, Friday night,” he unlocked the door and took his leave.

On the whole he was well pleased with his interview. In the first place, he had by his readiness escaped an imminent personal danger. What was almost as important, he had broken the ice with Mr. Coburn about Madeleine, and the former had not only declared that he was aware of the state of his daughter's feelings, but he had expressed no objection to the proposed match. Further, an understanding as to Mr. Coburn's own position had been come to. He had practically admitted that the syndicate was a felonious conspiracy, and had stated that he would do almost anything to get out of it. Finally he had promised a decision on the whole question in three days' time. Quite a triumph, Merriman thought.

On the other hand he had given the manager a warning of the danger which the latter might communicate to his fellow-conspirators, with the result that all of them might escape from the net in which Hilliard, at any rate, wished to enmesh them. And just to this extent he had become a co-partner in their crime. And though it was true that he had escaped from his immediate peril, he had undoubtedly placed himself and Hilliard in very real danger. It was by no means impossible that the gang would decide to murder both of the men whose knowledge threatened them, in

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