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 The Colonel flushed angrily. "I quite recognize that I am under obligations to you, Mr. Holmes," said he, "but I must regard what you have just said as either a very bad joke or an insult."

Sherlock Holmes laughed. "I assure you that I have not associated you with the crime, Colonel," said he; "the real murderer is standing immediately behind you!"

He stepped past and laid his hand upon the glossy neck of the thoroughbred.

"The horse!" cried both the Colonel and myself.

"Yes, the horse. And it may lessen his guilt if I say that it was done in self-defence, and that John Straker was a man who was entirely unworthy of your confidence. But there goes the bell; and as I stand to win a little on this next race, I shall defer a more lengthy explanation until a more fitting time."

We had the corner of a Pullman car to ourselves that evening as we whirled back to London, and I fancy that the journey was a short one to Colonel Ross as well as to myself, as we listened to our companion's narrative of the events which had occurred at the Dartmoor training stables upon that Monday night, and the means by which he had unravelled them.

"I confess," said he, "that any theories