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“I see, my dear Gilsey.”

“In a nutshell, Nick, I wish you to locate him for me as quickly as possible.”

“But not arrest him?”

For an instant the banker hesitated, then said huskily:

“No, Nick, not that. Not—not unless——”

“Ah, well, if any ‘unless’ creeps in, I shall know what to do without instructions,” Nick bluntly interposed. “Now, Mr. Gilsey, give me Kendall’s city address.”

“He occupies bachelor’s apartments in Fifty-ninth Street. Here is the number. He has not been there to-day, however.”

“How long since you sent to inquire?”

“Less than an hour.”

“Is he a clubman?”

“I think not.”

Nick Carter replaced his note-book in his pocket, then arose and took his hat from the banker’s table.

CHAPTER II.

WHERE TIDES MEET.

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Before making his departure, Nick again turned to the banker and said:

“One more question occurs to me, Gilsey. How did you happen to discover that a deficit possibly exists in your cash, and under the circumstances stated?”

“Well, it—it was a perfectly natural discovery in the course of to-day’s business,” Mr. Gilsey faltered.

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