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"In the pond?"

"Yes."

"But what?"

"Anything, Bill; anything."

Bill was annoyed. "I say, Tony, this won't do. You really mustn't be so damn mysterious. What's happened to you suddenly?"

Antony looked up at him in surprise.

"Didn't you hear what he said?"

"What, particularly?"

"That it was Cayley's idea to drag the pond."

"Oh! Oh, I say!" Bill was rather excited again. "You mean that he's hidden something there? Some false clue which he wants the police to find?"

"I hope so," said Antony earnestly, "but I'm afraid-" He stopped short.

"Afraid of what?"

"Afraid that he hasn't hidden anything there. Afraid that-"

"Well?"

"What's the safest place in which to hide anything very important?"

"Somewhere where nobody will look."

"There's a better place than that."

"What?"

"Somewhere where everybody has already looked."

"By Jove! You mean that as soon as the pond has been dragged, Cayley will hide something there?"

"Yes, I'm afraid so."

"But why afraid?"

"Because I think that it must be something very important, something which couldn't easily be hidden anywhere else."

"What?" asked Bill eagerly.

Antony shook his head.