"It's all clear," he whispered. "Have you the chisel and the bags? Great Scott! Jump, Archie, jump, and I'll swing for it!"

Sherlock Holmes had sprung out and seized the intruder by the collar. The other dived down the hole, and I heard the sound of rending cloth as Jones clutched at his skirts. The light flashed upon the barrel of a revolver, but Holmes's hunting crop came down on the man's wrist, and the pistol clinked upon the stone floor.

"It's no use, John Clay," said Holmes blandly. "You have no chance at all."

"So I see," the other answered with the utmost coolness. "I fancy that my pal is all right, though I see you have got his coat-tails."

"There are three men waiting for him at the door," said Holmes.

"Oh, indeed! You seem to have done the thing very completely. I must compliment you."

"And I you," Holmes answered. "Your red-headed idea was very new and effective."

"You'll see your pal again presently," said Jones. "He's quicker at climbing down holes than I am. Just hold out while I fix the derbies."

"I beg that you will not touch me with your filthy hands," remarked our prisoner as the handcuffs clattered upon his wrists. "You may not be aware that I have royal blood in my veins. Have the goodness, also, when you address me always to say 'sir' and 'please.'"

"All right," said Jones with a stare and a snigger. "Well, would you please, sir, march upstairs, where we can get a cab to carry your Highness to the police-station?"

"That is better," said John Clay serenely. He made a sweeping bow to the three of us and walked quietly off in the custody of the detective.

"Really, Mr. Holmes," said Mr. Merryweather as we followed them from the cellar, "I do not know how the bank can thank you or repay you. There is no doubt that you have detected and defeated in the most complete manner one of the most determined attempts at bank robbery that have ever come within my experience."

"I have had one or two little scores of my own to settle with Mr. John Clay," said Holmes. "I have been at some small expense over this matter, which I shall expect the bank to refund, but beyond that I am amply repaid by having had an experience which is in many ways unique, and by hearing the very remarkable narrative of the Red-headed League."

"You see, Watson," he explained in the early hours of the morning as we sat over a glass of whisky and soda in Baker Street, "it was perfectly obvious from the first that the only possible object of this rather fantastic business of the advertisement of the League, and the copying of the Encyclopaedia, must be to get this not over-bright pawnbroker out of the way for a number of hours every day. It was a curious way of managing it, but, really, it would be difficult to suggest a better. The method was no doubt suggested to Clay's ingenious mind by the color of his accomplice's hair. The 4 pounds a week was a lure which must draw him, and what was it to them, who were playing for thousands? They put in the advertisement, one rogue has the temporary office, the other rogue incites the man to apply for it. and............