He was still in the chamber, searching for the forged receipt, when he was startled by a voice speaking close behind him.

"A thousand pardons," said the voice; "I am afraid I disturb you."

He turned, and found himself face to face with Marguerite's guardian.

"I have called," pursued Obenreizer, "to know if I can be of any use. Business of my own takes me away for some days to Manchester and Liverpool. Can I combine any business of yours with it? I am entirely at your disposal, in the character of commercial traveller for the firm of Wilding and Co."

"Excuse me for one moment," said Vendale; "I will speak to you directly." He turned round again, and continued his search among the papers. "You come at a time when friendly offers are more than usually precious to me," he resumed. "I have had very bad news this morning from Neuchatel."

"Bad news," exclaimed Obenreizer. "From Defresnier and Company?"

"Yes. A remittance we sent to them has been stolen. I am threatened with a loss of five hundred pounds. What's that?"

Turning sharply, and looking into the room for the second time, Vendale discovered his envelope case overthrown on the floor, and Obenreizer on his knees picking up the contents.

"All my awkwardness," said Obenreizer. "This dreadful news of yours startled me; I stepped back--" He became too deeply interested in collecting the scattered envelopes to finish the sentence.

"Don't trouble yourself," said Vendale. "The clerk will pick the things up."

"This dreadful news!" repeated Obenreizer, persisting in collecting the envelopes. "This dreadful news!"

"If you will read the letter," said Vendale, "you will find I have exaggerated nothing. There it is, open on my desk."

He resumed his search, and in a moment more discovered the forged receipt. It was on the numbered and printed form, described by the Swiss firm. Vendale made a memorandum of the number and the date. Having replaced the receipt and locked up the iron chamber, he had leisure to notice Obenreizer, reading the letter in the recess of a window at the far end of the room.

"Come to the fire," said Vendale. "You look perished with the cold out there. I will ring for some more coals."

Obenreizer rose, and came slowly back to the desk. "Marguerite will be as sorry to hear of this as I am," he said, kindly. "What do you mean to do?"

"I am in the hands of Defresnier and Company," answered Vendale. "In my total ignorance of the circumstances, I can only do what they recommend. The receipt which I have just found, turns out to be the numbered and printed form. They seem to attach some special importance to its discovery. You have had experience, when you were in the Swiss house, of their way of doing business. Can you guess what object they have in view?"




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