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turns also with Mr. John Clay, and I agree with you that he is at the head of his profession. It is past ten, however, and quite time that we started. If you two will take the first hansom, Watson and I will follow in the second.”

Sherlock Holmes was not very communicative during the long drive and lay back in the cab humming the tunes which he had heard in the afternoon. We rattled through an endless labyrinth of gas-lit streets until we emerged into Farrington Street.

“We are close there now,” my friend remarked. “This fellow Merryweather is a bank director, and personally interested in the matter. I thought it as well to have Jones with us also. He is not a bad fellow, though an absolute imbecile in his profession. He has one positive virtue. He is as brave as a bulldog and as tenacious as a lobster if he gets his claws upon anyone. Here we are, and they are waiting for us.”

We had reached the same crowded thoroughfare in which we had found ourselves in the morning. Our cabs were dismissed, and, following the guidance of Mr. Merryweather, we passed down a narrow passage and through a side door, which he opened for us. Within there was a small corridor, which ended in a very massive iron gate. This also was opened, and led down a flight of winding stone steps, which terminated at another formidable gate. Mr. Merryweather stopped to light a lantern, and then conducted us down a dark, earth-smelling passage, and so, after opening a third door, into a huge vault or cellar, which was piled all round with crates and massive boxes.

“You are not very vulnerable from above,” Holmes remarked as he held up the lantern and gazed about him.

“Nor from below,” said Mr. Merryweather, striking his stick upon the flags which lined the floor. “Why, dear me, it sounds quite hollow!” he remarked, looking up in surprise.

“I must really ask you to be a little more quiet!” said Holmes severely. “You have already imperilled the whole success of our expedition. Might I beg that you would have the goodness to sit down upon one of those boxes, and not to interfere?”

The solemn Mr. Merryweather perched himself upon a crate, with a very injured expression upon his face, while Holmes fell upon his knees upon the floor and, with the lantern and a magnifying lens, began to examine minutely the cracks between the stones. A few seconds sufficed to satisfy him, for he sprang to his feet again and put his glass in his pocket.

“We have at least an hour before us,” he remarked, “for they can hardly take any steps until the good pawnbroker is safely in bed. Then they will not lose a minute, for the sooner they do their work the longer time they will have for their escape. We are at present, Doctor⁠—as no doubt you have divined⁠—in the cellar of the City branch of one of the principal London banks. Mr. Merryweather is the chairman of directors, and he will explain to you that there are reasons why the more daring criminals of London should take a considerable interest in this cellar at present.”

“It is our French gold,” whispered the director. “We have had several warnings that an attempt might be made upon it.”

“Your French gold?”

“Yes. We had occasion some months ago to strengthen our resources and borrowed for that purpose 30,000 napoleons from the Bank of France. It has become known that we have never had occasion to unpack the money, and that it is still lying in our cellar. The crate upon which I sit contains 2,000 napoleons packed between layers of lead foil. Our reserve of bullion is much larger at present than is usually kept in a single branch office, and the directors have had misgivings upon the subject.”

“Which were very well justified,” observed Holmes. “And now it is time that we arranged our little plans. I expect that within an hour matters will come to a head. In the meantime Mr. Merryweather, we must put the screen over that dark lantern.”

“And sit in the dark?”

“I am afraid so. I had brought a pack of cards in my pocket, and I thought that, as we were a partie carrée, you might have your rubber after all. But I see that the enemy’s preparations have gone so far that we cannot risk the presence of a light. And, first of all, we must choose our positions. These are daring men, and though we shall take them at a disadvantage, they may do us some harm unless we are careful. I shall stand behind this crate, and do you conceal yourselves behind those. Then, when I flash a light upon them, close in swiftly. If they fire, Watson, have no compunction about shooting them down.”

I placed my revolver, cocked, upon the top of the wooden case behind which I crouched. Holmes shot the slide across the front of his lantern and left us in pitch darkness⁠—such an absolute darkness as I have never before experienced. The smell of hot metal remained to assure us that the light was still there, ready to flash out at a moment’s notice. To me, with my nerves worked up to a pitch of expectancy, there was something depressing and subduing in the sudden gloom, and in the cold dank air of the vault.

“They have but one retreat,” whispered Holmes. “That is back through the house into Saxe-Coburg Square. I hope that you have done what I asked you, Jones?”

“I have an inspector and two officers waiting at the front door.”

“Then we have stopped all the holes. And now we must be silent and wait.”

What a time it seemed! From comparing notes afterwards it was but an hour and a quarter, yet it appeared to me that the night must have almost gone, and the dawn be breaking above us. My limbs were weary and stiff, for I feared to change my position; yet my nerves

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