Holmes had taken several notes during Mr. Harding’s evidence, and I could see that he was thoroughly satisfied by the turn which affairs were taking. He made no remark, however, save that, unless we hurried, we should be late for our appointment with Lestrade. Sure enough, when we reached Baker Street the detective was already there, and we found him pacing up and down in a fever of impatience. His look of importance showed that his day’s work had not been in vain.

“Well?” he asked. “What luck, Mr. Holmes?”

“We have had a very busy day, and not entirely a wasted one,” my friend explained. “We have seen both the retailers and also the wholesale manufacturers. I can trace each of the busts now from the beginning.”