of the bank director. From my position I could look over the case
in the direction of the floor. Suddenly my eyes caught the glint
of a light.

At first it was but a lurid spark upon the stone pavement. Then
it lengthened out until it became a yellow line, and then,
without any warning or sound, a gash seemed to open and a hand
appeared, a white, almost womanly hand, which felt about in the
centre of the little area of light. For a minute or more the
hand, with its writhing fingers, protruded out of the floor. Then
it was withdrawn as suddenly as it appeared, and all was dark
again save the single lurid spark which marked a chink between
the stones.

Its disappearance, however, was but momentary. With a rending,
tearing sound, one of the broad, white stones turned over upon
its side and left a square, gaping hole, through which streamed
the light of a lantern. Over the edge there peeped a clean-cut,
boyish face, which looked keenly about it, and then, with a hand
on either side of the aperture, drew itself shoulder-high and
waist-high, until one knee rested upon the edge. In another
instant he stood at the side of the hole and was hauling after
him a companion, lithe and small like himself, with a pale face
and a shock of very red hair.

"It's all clear," he whispered. "Have you the chisel and the
bags? Great Scott! Jump, Archie, jump, and I'll swing for it!"

Sherlock Holmes had sprung out and seized the intruder by the
collar. The other dived down the hole, and I heard the sound of
rending cloth as Jones clutched at his skirts. The light flashed
upon the barrel of a revolver, but Holmes' hunting crop came
down on the man's wrist, and the pistol clinked upon the stone
floor.

"It's no use, John Clay," said Holmes blandly. "You have no
chance at all."

"So I see," the other answered with the utmost coolness. "I fancy
that my pal is all right, though I see you have got his
coat-tails."

"There are three men waiting for him at the door," said Holmes.

"Oh, indeed! You seem to have done the thing very completely. I
must compliment you."

"And I you," Holmes answered. "Your red-headed idea was very new
and effective."

"You'll see your pal again presently," said Jones. "He's quicker
at climbing down holes than I am. Just hold out while I fix the
derbies."

"I beg that you will not touch me with your filthy hands,"
remarked our prisoner as the handcuffs clattered upon his wrists.
"You may not be aware that I have royal blood in my veins. Have
the goodness, also, when you address me always to say 'sir' and
'please.'"

"All right," said Jones with a stare and a snigger. "Well, would
you please, sir, march upstairs, where we can get a cab to carry
your Highness to the police-station?"

"That is better," said John Clay serenely. He made a sweeping bow
to the three of us and walked quietly off in the custody of the
detective.

"Really, Mr. Holmes," said Mr. Merryweather as we followed them
from the cellar, "I do not know how the bank can thank you or
repay you. There is no doubt that you have detected and defeated
in the most complete manner one of the most determined attempts
at bank robbery that have ever come within my experience."

"I have had one or two little scores of my own to settle with Mr.
John Clay," said Holmes. "I have been at some small expense over
this matter, which I shall expect the bank to refund, but beyond
that I am amply repaid by having had an experience which is in
many ways unique, and by hearing the very remarkable narrative of
the Red-headed League."


"You see, Watson," he explained in the early hours of the morning
as we sat over a glass of whisky and soda in Baker Street, "it
was perfectly obvious from the first that the only possible
object of this rather fantastic business of the advertisement of
the League, and the copying of the 'Encyclopaedia,' must be to get
this not over-bright pawnbroker out of the way for a number of
hours every day. It was a curious way of managing it, but,
really, it would be difficult to suggest a better. The method was
no doubt suggested to Clay's ingenious mind by the colour of his
accomplice's hair. The 4 pounds a week was a lure which must draw
him, and what was it to them, who were playing for thousands?
They put in the advertisement, one rogue has the temporary
office, the other rogue incites the man to apply for it, and
together they manage to secure his absence every morning in the
week. From the time that I heard of the assistant having come for
half wages, it was obvious to me that he had some strong motive
for securing the situation."



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