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I knew that this man Small had a certain degree of low cunning, but I did not think him capable of anything in the nature of delicate finesse.

That is usually a product of higher education.

I then reflected that since he had certainly been in London some time - as we had evidence that he maintained a continual watch over Pondicherry Lodge - he could hardly leave at a moment's notice, but would need some little time, if it were only a day, to arrange his affairs.

That was the balance of probability, at any rate."

"It seems to me to be a little weak," said I; "it is more probable that he had arranged his affairs before ever he set out upon his expedition."

"No, I hardly think so.

This lair of his would be too valuable a retreat in case of need for him to give it up until he was sure that he could do without it.

But a second consideration struck me.

Jonathan Small must have felt that the peculiar appearance of his companion, however much he may have top-coated him, would give rise to gossip, and possibly be associated with this Norwood tragedy.

He was quite sharp enough to see that.

They had started from their headquarters under cover of darkness, and he would wish to get back before it was broad light.

Now, it was past three o'clock, according to Mrs. Smith, when they got the boat.

It would be quite bright, and people would be about in an hour or so.

Therefore, I argued, they did not go very far.

They paid Smith well to hold his tongue, reserved his launch for the final escape, and hurried to their lodgings with the treasure-box.

In a couple of nights, when they had time to see what view the papers took, and whether there was any suspicion, they would make their way under cover of darkness to some ship at Gravesend or in the Downs, where no doubt they had already arranged for passages to America or the Colonies."

"But the launch? They could not have taken that to their lodgings."

"Quite so.

l argued that the launch must be no great way off, in spite of its invisibility.

I then put myself in the place of Small and looked at it as a man of his capacity would.

He would probably consider that to send back the launch or to keep it at a wharf would make pursuit easy if the police did happen to get on his track.

How, then, could he conceal the launch and yet have her at hand when wanted? I wondered what I should do myself if I were in his shoes.

I could only think of one way of doing it.

I might hand the launch over to some boat-builder or repairer, with directions to make a trifling change in her.

She would then be removed to his shed or yard, and so be effectually concealed, while at the same time I could have her at a few hours' notice."

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