Hughes bowed.
"Good afternoon, Inspector," he said.

"I'm really sorry I had to interrupt you as I did; but I most awfully wanted you to know that you owe me a Homburg hat." He went closer to the detective.

"You see, I have won that wager.

I have found the man who murdered Captain Fraser-Freer." Curiously enough, Bray said nothing.

He sat down at his desk and idly glanced through the pile of mail that lay upon it.