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powers. President Quinton Fraser had inaugurated the system under which the Ralston National had so prospered, and now, despite his seventy-four years, he was still its active head. For fifty years he had been in its employ; for thirty-five years of that time he had been its president.

      Publicly the aged banker was credited with the possession of a vast fortune, this public estimate being based on large sums he had given to charity. But as a matter of fact the private fortune of the old man, who had no one to share it save his wife, was not large; it was merely a comfortable living sum for an aged couple of simple tastes.

      Dunston gathered up the packages of money and took them into the cashier’s private office, where he dumped them on the great flat-top desk at which that official, Randolph West, sat figuring. The cashier thrust the sheet of paper on which he had been working into his pocket and took the memorandum which Dunston offered.

      “All right?” he asked.

      “It tallies perfectly,” Dunston replied.

      “Thanks. You may go now.”

      It was an hour after closing time. Dunston was just pulling on his coat when he saw West come out of his private office with the money to put it away in the big steel safe which stood between depositors and thieves. The cashier paused a moment to allow the janitor, Harris, to sweep the space in front of the safe. It was the late afternoon scrubbing and sweeping.

      “Hurry up,” the cashier complained, impatiently.

      Harris hurried, and West placed the money in the safe. There were eighteen packages.

      “All right, sir?” Dunston inquired.

      “Yes.”

      West was disposing of the last bundle when Miss Clarke—Louise Clarke—private secretary to President Fraser, came out of his office with a long envelope in her hand. Dunston glanced at her and she smiled at him.

      “Please, Mr. West,” she said to the cashier, “Mr. Fraser told me before he went to put these papers in the safe. I had almost forgotten.”

      She glanced into the open safe and her pretty blue eyes opened wide. Mr. West took the envelope, stowed it away with the money without a word, the girl looking on interestedly, and then swung the heavy door closed. She turned away with a quick, reassuring smile at Dunston, and disappeared inside the private office.

      West had shot the bolts of the safe into place and had taken hold of the combination dial to throw it on, when the street door opened and President Fraser entered hurriedly.

      “Just a moment, West,” he called. “Did Miss Clarke give you an envelope to go in there?”

      “Yes. I just put it in.”

      “One moment,” and the aged president came through a gate which Dunston held open and went to the safe. The cashier pulled the steel door open, unlocked the money compartment where the envelope had been placed, and the president took it out.

      West turned and spoke to Dunston, leaving the president looking over the contents of the envelope. When the cashier turned back to the safe the president was just taking his hand away from his inside coat pocket.

      “It’s all right, West,” he instructed. “Lock it up.”

      Again the heavy door closed, the bolts were shot and the combination dial turned. President Fraser stood looking on curiously; it just happened that he had never witnessed this operation before.

      “How much have you got in there tonight?” he asked.

      “One hundred and twenty-nine thousand,” replied the cashier. “And all the securities, of course.”

      “Hum,” mused the president. “That would be a good haul for some one—if they could get it, eh, West?” and he chuckled dryly.

      “Excellent,” returned West, smilingly. “But they can’t.”

      Miss Clarke, dressed for the street, her handsome face almost concealed by a veil which was intended to protect her pink cheeks from boisterous winds, was standing in the door of the president’s office.

      “Oh, Miss Clarke, before you go, would you write just a short note for me?” asked the president.

      “Certainly,” she responded, and she returned to the private office. Mr. Fraser followed her.

      West and Dunston stood outside the bank railing, Dunston waiting for Miss Clarke. Every evening he walked over to the subway with her. His opinion of her was an open secret. West was waiting for the janitor to finish sweeping.

      “Hurry up, Harris,” he said again.

      “Yes, sir,” came the reply, and the janitor applied the broom more vigorously. “Just a little bit more. I’ve finished inside.”

      Dunston glanced through the railing. The floor was spick and span and the hardwood glistened cleanly. Various bits of paper came down the corridor before Harris’s broom. The janitor swept it all up into a dustpan just as Miss Clarke came out of the president’s room. With Dunston she walked up the street. As they were going they saw Cashier West come out the front door, with his handkerchief in his hand, and then walk away rapidly.

      “Mr. Fraser is doing some figuring,” Miss Clarke explained to Dunston. “He said he might be there for another hour.”

      “You are beautiful,” replied Dunston, irrelevantly.

      * * * *

      These, then, were the happenings in detail in the Ralston National Bank from 4:15 o’clock on the afternoon of November 11. That night the bank was robbed. The great steel safe which was considered impregnable was blown and $129,000 was missing.

      The night watchman of the bank, William Haney, was found senseless, bound and gagged, inside the bank. His revolver lay beside him with all the cartridges out. He had been beaten into insensibility; at the hospital it was stated that there was only a bare chance of his recovery.

      The locks, hinges and bolts of the steel safe had been smashed by some powerful explosive, possibly nitroglycerine. Thc tiny dial of the time-lock showed that the explosion came at 2:39; the remainder of the lock was blown to pieces.

      Thus was fixed definitely the moment at which the robbery occurred. It was shown that the policeman on the beat had been four blocks away. It was perfectly possible that no one heard the explosion, because the bank was situated in a part of the city wholly given over to business and deserted at night.

      The burglars had entered the building through a window of the cashier’s private office, in the full glare of an electric light. Thc window sash here had been found unfastened and the protecting steel bars, outside from top to bottom, seemed to have been dragged from their sockets in the solid granite. The granite crumbled away, as if it had been chalk.

      Only one possible clue was found. This was a white linen handkerchief, picked up in front of the blown safe. It must have been dropped there at the time of the burglary, because Dunston distinctly recalled it was not there before he left the bank. He would have noticed it while the janitor was sweeping.

      This handkerchief was the property of Cashier West. The cashier did not deny it, but could offer no explanation of how it came there. Miss Clarke and Dunston both said that they had seen him leave the bank with a handkerchief in his hand.

      II

      President Fraser reached the bank at ten o’clock and was informed of the robbery. He retired to his office, and there he sat, apparently stunned into inactivity by the blow, his head bowed on his arms. Miss Clarke, at her typewriter, frequently glanced at the aged figure with an expression of pity on her face. Her eyes seemed weary, too. Outside, through the closed door, they could hear the detectives.

      From time to time employees of the bank and detectives entered the office to ask questions. The banker answered as if dazed; then the board of directors met and voted to personally make good the loss sustained. There was no uneasiness among depositors, because they knew the resources of the bank were practically

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