Sherlock Holmes's face showed that he was thoroughly taken aback by this new development.

     "I must admit both your points," said he. "I confess that this notebook, which did not appear at the inquest, modifies any views which I may have formed. I had come to a theory of the crime in which I can find no place for this. Have you endeavoured to trace any of the securities here mentioned?"

     "Inquiries are now being made at the offices, but I fear that the complete register of the stockholders of these South American concerns is in South America, and that some weeks must elapse before we can trace the shares."
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