The gentleman smilingly returned his salute, without responding to the
name, then courteously asked him to take a seat.

Ray took the proffered chair, and then observed, although he wondered why
Mrs. Vanderbeck did not return:

"As I suppose you know, I have called, at the request of Mrs. Vanderbeck,
to have you examine some--Good heavens!"

And he suddenly leaped from his chair as if shot from it by some powerful
but concealed spring, his face as pale as his shirt bosom, great drops of
cold perspiration breaking out upon his forehead.

He had put his hand in his pocket as he spoke, to take from it the
package of diamonds, but--_it was gone_!

"Pray do not be so excited, my young friend," calmly observed his
companion, "but sit down again and tell me your errand."

But Ray Palmer did not hear or heed him. He had rushed to the window,
where, with a trembling hand, he swept aside the heavy draperies and
looked out upon the street for the _coupé_ in which he had been brought
to that house.

It was not in sight, and the fearful truth burst upon him--he had been
the victim of an accomplished sharper.

He had been robbed, and the clever thief had suddenly vanished, leaving
no trace behind her.