SHARON’S news was not of an encouraging character. He had met with serious difficulties, and had spent the last farthing of Moody¹’s money in attempting to overcome them.

One discovery of importance he had certainly made. A horse withdrawn² from the sale was the only horse that had met with Hardyman’s approval. He had secured the animal at the high reserved price of twelve thousand francs — being four hundred and eighty pounds in English money; and he had paid with an English bank-note. The seller (a French horse-dealer resident in Brussels) had returned to Belgium immediately on completing the negotiations³. Sharon had ascertained⁴ his address, and had written to him at Brussels, inclosing the number of the lost banknote. In two days he had received an answer, informing him that the horse-dealer had been called to England by the illness of a relative, and that he had hitherto failed to send any address to which his letters could be forwarded. Hearing this, and having exhausted⁵ his funds, Sharon had returned to London. It now rested with Moody to decide whether the course of the inquiry⁶ should follow the horse-dealer next. Here was the cash account, showing how the money had been spent. And there was Sharon, with his pipe in his mouth and his dog on his lap, waiting for orders.

Moody wisely took time to consider before he committed himself to a decision. In the meanwhile, he ventured to recommend a new course of proceeding⁷ which Sharon’s report had suggested to his mind.

“It seems to me,” he said, “that we have taken the roundabout way of getting to our end in view, when the straight road lay before us. If Mr. Hardyman has passed the stolen note, you know, as well as I do, that he has passed it innocently. Instead of wasting time and money in trying to trace a stranger, why not tell Mr. Hardyman what has happened, and ask him to give us the number of the note? You can’t think of everything, I know; but it does seem strange that this idea didn’t occur to you before you went to France.”

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