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Was it ever in the strongroom at all?”

      ‘“It seems a curious case,” I said.

      ‘“It is a very curious case, when you consider what bullion is. Not a diamond necklace that you could put into your pocket. When you think how cumbersome it is and how bulky—well, the whole thing seems absolutely impossible. There may have been some hocus-pocus before the ship sailed; but if not, it must have been removed within the last six months—and I am going down to look into the matter.”

      ‘I found Newman waiting to meet me at the station. He apologized for the absence of his car, which had gone to Truro for some necessary repairs. Instead, he met me with a farm lorry belonging to the property.

      ‘I swung myself up beside him, and we wound carefully in and out of the narrow streets of the fishing village. We went up a steep ascent, with a gradient, I should say, of one in five, ran a little distance along a winding lane, and turned in at the granite-pillared gates of Pol House.

      ‘The place was a charming one; it was situated high up the cliffs, with a good view out to sea. Part of it was some three or four hundred years old, and a modern wing had been added. Behind it farming land of about seven or eight acres ran inland.

      ‘“Welcome to Pol House,” said Newman. “And to the Sign of the Golden Galleon.” And he pointed to where, over the front door, hung a perfect reproduction of a Spanish galleon with all sails set.

      ‘My first evening was a most charming and instructive one. My host showed me the old manuscripts relating to the Juan Fernandez. He unrolled charts for me and indicated positions on them with dotted lines, and he produced plans of diving apparatus, which, I may say, mystified me utterly and completely.

      ‘I told him of my meeting with Inspector Badgworth, in which he was much interested.

      ‘“They are a queer people round this coast,” he said reflectively. “Smuggling and wrecking is in their blood. When a ship goes down on their coast they cannot help regarding it as lawful plunder meant for their pockets. There is a fellow here I should like you to see. He is an interesting survival.”

      ‘Next day dawned bright and clear. I was taken down into Polperran and there introduced to Newman’s diver, a man called Higgins. He was a wooden-faced individual, extremely taciturn, and his contributions to the conversation were mostly monosyllables. After a discussion between them on highly technical matters, we adjourned to the Three Anchors. A tankard of beer somewhat loosened the worthy fellow’s tongue.

      ‘“Detective gentleman from London has come down,” he grunted. “They do say that that ship that went down there last November was carrying a mortal lot of gold. Well, she wasn’t the first to go down, and she won’t be the last.”

      ‘“Hear, hear,” chimed in the landlord of the Three Anchors. “That is a true word you say there, Bill Higgins.”

      ‘“I reckon it is, Mr Kelvin,” said Higgins.

      ‘I looked with some curiosity at the landlord. He was a remarkable-looking man, dark and swarthy, with curiously broad shoulders. His eyes were bloodshot, and he had a curiously furtive way of avoiding one’s glance. I suspected that this was the man of whom Newman had spoken, saying he was an interesting survival.

      ‘“We don’t want interfering foreigners on this coast,” he said, somewhat truculently.

      ‘“Meaning the police?” asked Newman, smiling.

      ‘“Meaning the police—and others,” said Kelvin significantly. “And don’t you forget it, mister.”

      ‘“Do you know, Newman, that sounded to me very like a threat,” I said as we climbed the hill homewards.

      ‘My friend laughed.

      ‘“Nonsense; I don’t do the folk down here any harm.”

      ‘I shook my head doubtfully. There was something sinister and uncivilized about Kelvin. I felt that his mind might run in strange, unrecognized channels.

      ‘I think I date the beginning of my uneasiness from that moment. I had slept well enough that first night, but the next night my sleep was troubled and broken. Sunday dawned, dark and sullen, with an overcast sky and the threatenings of thunder in the air. I am always a bad hand at hiding my feelings, and Newman noticed the change in me.

      ‘“What is the matter with you, West? You are a bundle of nerves this morning.”

      ‘“I don’t know,” I confessed, “but I have got a horrible feeling of foreboding.”

      ‘“It’s the weather.”

      ‘“Yes, perhaps.”

      ‘I said no more. In the afternoon we went out in Newman’s motor boat, but the rain came on with such vigour that we were glad to return to shore and change into dry clothing.

      ‘And that evening my uneasiness increased. Outside the storm howled and roared. Towards ten o’clock the tempest calmed down. Newman looked out of the window.

      ‘“It is clearing,” he said. “I shouldn’t wonder if it was a perfectly fine night in another half-hour. If so, I shall go out for a stroll.”

      ‘I yawned. “I am frightfully sleepy,” I said. “I didn’t get much sleep last night. I think that tonight I shall turn in early.”

      ‘This I did. On the previous night I had slept little. Tonight I slept heavily. Yet my slumbers were not restful. I was still oppressed with an awful foreboding of evil; I had terrible dreams. I dreamt of dreadful abysses and vast chasms, amongst which I was wandering, knowing that a slip of the foot meant death. I waked to find the hands of my clock pointing to eight o’clock. My head was aching badly, and the terror of my night’s dreams was still upon me.

      ‘So strongly was this so that when I went to the window and drew it up I started back with a fresh feeling of terror, for the first thing I saw, or thought I saw—was a man digging an open grave.

      ‘It took me a minute or two to pull myself together; then I realized that the grave-digger was Newman’s gardener, and the “grave” was destined to accommodate three new rose trees which were lying on the turf waiting for the moment they should be securely planted in the earth.

      ‘The gardener looked up and saw me and touched his hat.

      ‘“Good morning, sir. Nice morning, sir.”

      ‘“I suppose it is,” I said doubtfully, still unable to shake off completely the depression of my spirits.

      ‘However, as the gardener had said, it was certainly a nice morning. The sun was shining and the sky a clear pale blue that promised fine weather for the day. I went down to breakfast whistling a tune. Newman had no maids living in the house. Two middle-aged sisters, who lived in a farm-house near by, came daily to attend to his simple wants. One of them was placing the coffee-pot on the table as I entered the room.

      ‘“Good morning, Elizabeth,” I said. “Mr Newman not down yet?”

      ‘“He must have been out very early, sir,” she replied. “He wasn’t in the house when we arrived.”

      ‘Instantly my uneasiness returned. On the two previous mornings Newman had come down to breakfast somewhat late; and I didn’t fancy that at any time he was an early riser. Moved by those forebodings, I ran up to his bedroom. It was empty, and, moreover, his bed had not been slept in. A brief examination of his room showed me two other things. If Newman had gone out for a stroll he must have gone out in his evening clothes, for they were missing.

      ‘I was sure now that my premonition of evil was justified. Newman had gone, as he had said he would do—for an evening stroll. For some reason or other he had not returned. Why? Had he met with an accident? Fallen over the cliffs? A search must be made at once.

      ‘In a few hours I had collected a large band of helpers, and together we hunted in every direction along the cliffs and on the

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