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 the morning after the murder, and therefore told us quite frankly that she had 'phoned him that Benson had the jewels at home. The situation now is: Pfyfe knew they were in Benson's house, and was there himself at about the time the shot was fired. Furthermore, the jewels are gone; and Pfyfe tried to cover up his tracks that night."

Vance sighed hopelessly.

"Markham, there are altogether too many trees for you in this case. You simply can't see the forest, y' know, because of 'em."

"There is the remote possibility that you are so busily engaged in looking at one particular tree that you are unaware of the others."

A shadow passed over Vance's face.

"I wish you were right," he said.

It was nearly half past one, and we dropped into the Fountain Room of the Ansonia Hotel for lunch. Markham was preoccupied throughout the meal, and when we entered the subway later, he looked uneasily at his watch.

"I think I'll go on down to Wall Street and call on the Major a moment before returning to the office. I can't understand his asking Miss Hoffman not to mention the package to me. . . . It might not have contained the jewels, after all."

"Do you imagine for one moment," rejoined Vance, "that Alvin told the Major the truth about the package? It was not a very cred'table transaction, y' know; and the Major most likely would have given him what-for."

Major Benson's explanation bore out Vance's surmise. Markham, in telling him of the interview with