“Pooh! All that is clear enough,” said Holmes impatiently. “It is this last sudden move.”

“You understand the rest, then?”

“I think that it is fairly obvious. What do you say, Watson?”

I shrugged my shoulders. “I must confess that I am out of my depths,” said I.

“Oh, surely if you consider the events at first they can only point to one conclusion.”

“What do you make of them?”

“Well, the whole thing hinges upon two points. The first is the making of Pycroft write a declaration by which he entered the service of this preposterous company. Do you not see how very suggestive that is?”

“I am afraid I miss the point.”

“Well, why did they want him to do it? Not as a business matter, for these arrangements are usually verbal, and there was no earthly business reason why this should be an exception. Don’t you see, my young friend, that they were very anxious to obtain a specimen of your handwriting, and had no other way of doing it?”

“And why?”

“Quite so. Why? When we answer that we have made some progress with our little problem. Why? There can be only one adequate reason. Someone wanted to learn to imitate your writing and had to procure a specimen of it first. And now if we pass on to the second point we find that each throws light upon the other. That point is the request made by Pinner that you should not resign your place, but should leave the manager of this important business in the full expectation that a Mr. Hall Pycroft, whom he had never seen, was about to enter the office upon the Monday morning.”

“My God!” cried our client, “what a blind beetle I have been!”

“Now you see the point about the handwriting. Suppose that someone turned up in your place who wrote a completely different hand from that in which you had applied for the vacancy, of course the game would have been up. But in the interval the rogue had learned to imitate you, and his position was therefore secure, as I presume that nobody in the office had ever set eyes upon you.”

“Not a soul,” groaned Hall Pycroft.

“Very good. Of course it was of the utmost importance to prevent you from thinking better of it, and also to keep you from coming into contact with anyone who might tell you that your double was at work in Mawson’s office. Therefore they gave you a handsome advance on your salary, and ran you off to the Midlands, where they gave you enough work to do to prevent your going to London, where you might have burst their little game up. That is all plain enough.”

“But why should this man pretend to be his own brother?”

“Well, that is pretty clear also. There are evidently only two of them in it. The other is impersonating you at the office. This one acted as your engager, and then found that he could not find you an employer without admitting a third person into his plot. That he was most unwilling to do. He changed his appearance as far as he could, and trusted that the likeness, which you could not fail to observe, would be put down to a family resemblance. But for the happy chance of the gold stuffing, your suspicions would probably never have been aroused.”

Hall Pycroft shook his clenched hands in the air. “Good Lord!” he cried, “while I have been fooled in this way, what has this other Hall Pycroft been doing at Mawson’s? What should we do, Mr. Holmes? Tell me what to do.”

“We must wire to Mawson’s.”

“They shut at twelve on Saturdays.”

“Never mind. There may be some door-keeper or attendant- -”

“Ah, yes, they keep a permanent guard there on account of the value of the securities that they hold. I remember hearing it talked of in the City.”