"You will observe," said Holmes, laying down the volume, "that the sudden breaking up of the society was coincident with the disappearance of Openshaw from America with their papers. It may well have been cause and effect. It is no wonder that he and his family have some of the more implacable spirits upon their track. You can understand that this register and diary may implicate some of the first men in the South, and that there may be many who will not sleep easy at night until it is recovered."

"Then the page we have seen–"

"Is such as we might expect. It ran, if I remember right, 'sent the pips to A, B, and C'–that is, sent the society's warning to them. Then there are successive entries that A and B cleared, or left the country, and finally that C was visited, with, I fear, a sinister result for C. Well, I think, Doctor, that we may let some light into this dark place, and I believe that the only chance young Openshaw has in the meantime is to do what I have told him. There is nothing more to be said or to be done to-night, so hand me over my violin and let us try to forget for half an hour the miserable weather and the still more miserable ways of our fellow-men."

It had cleared in the morning, and the sun was shining with a subdued brightness through the dim veil which hangs over the great city. Sherlock Holmes was already at breakfast when I came down.

"You will excuse me for not waiting for you," said he; "I have, I foresee, a very busy day before me in looking into this case of young Openshaw's."

"What steps will you take?" I asked.

"It will very much depend upon the results of my first inquiries. I may have to go down to Horsham, after all."

"You will not go there first?"

"No, I shall commence with the City. Just ring the bell and the maid will bring up your coffee."

As I waited, I lifted the unopened newspaper from the table and glanced my eye over it. It rested upon a heading which sent a chill to my heart.

"Holmes," I cried, "you are too late."

"Ah!" said he, laying down his cup, "I feared as much. How was it done?" He spoke calmly, but I could see that he was deeply moved.