by that act a select assortment of diamond rings.

"Oh," laughed the stranger, "that is a simple matter. Captain Kidd
has gone to London."

"To London!" cried several members at once. "How do you know that?"

"By this," said the stranger, holding up the tiny stub end of a
cigar.

"Tut-tut!" ejaculated Solomon. "What child's play is this!"

"No, your Majesty," observed the stranger, "it is not child's play;
it is fact. That cigar end was thrown aside here on the wharf by
Captain Kidd just before he stepped on board the House-boat."

"How do you know that?" demanded Raleigh. "And granting the truth of
the assertion, what does it prove?"

"I will tell you," said the stranger. And he at once proceeded as
follows.



CHAPTER II: THE STRANGER UNRAVELS A MYSTERY AND REVEALS HIMSELF



"I have made a hobby of the study of cigar ends," said the stranger,
as the Associated Shades settled back to hear his account of himself.