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THE VALLEY OF FEAR

no doubt that he has twenty banking accounts; the bulk of his fortune abroad in the Deutsche Bank or the Crédit Lyonnais as likely as not. Sometime when you have a year or two to spare I commend to you the study of Professor Moriarty.”

Inspector MacDonald had grown steadily more impressed as the conversation proceeded. He had lost himself in his interest. Now his practical Scotch intelligence brought him back with a snap to the matter in hand.

“He can keep, anyhow,” said he. “You’ve got us sidetracked with your interesting anecdotes, Mr. Holmes. What really counts is your remark that there is some connection between the professor and the crime. That you get from the warning received through the man Porlock. Can we for our present practical needs get any further than that?”

“We may form some conception as to the motives of the crime. It is, as I gather from your original remarks, an inexplicable, or at least an unexplained, murder. Now, presuming that the source of the crime is as we suspect it to be, there might be two different motives. In the first

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