We both thought the best resource was flight, when pursued by so formidable an antagonist; so you will find the nest empty when you call to-morrow. As to the photograph, your client may rest in peace. I love and am loved by a better man than he. The King may do what he will without hindrance from one whom he has cruelly wronged. I keep it only to safeguard myself, and to preserve a weapon which will always secure me from any steps which he might take in the future. I leave a photograph which he might care to possess; and I remain, dear Mr. Sherlock Holmes,

Very truly yours,

Irene Norton, nee ADLER.

“What a woman — oh, what a woman!” cried the King of Bohemia, when we had all three read this epistle. “Did I not tell you how quick and resolute she was? Would she not have made an admirable queen? Is it not a pity that she was not on my level?”

“From what I have seen of the lady she seems indeed to be on a very different level to your Majesty,” said Holmes coldly. “I am am sorry that I have not been able to bring your Majesty’s business to a more successful conclusion.”

“On the contrary, my dear sir,” cried the King; “nothing could be more successful. I know that her word is inviolate. The photograph is now as safe as if it were in the fire.”

“I am glad to hear your Majesty say so.”

“I am immensely indebted to you. Pray tell me in what way I can reward you. This ring “ He slipped an emerald snake ring from his finger and held it out upon the palm of his hand.

“Your Majesty has something which I should value even more highly,” said Holmes.

“You have but to name it.”

“This photograph!”

The King stared at him in amazement.

“Irene’s photograph!” he cried. “Certainly, if you wish it.”

“I thank your Majesty. Then there is no more to be done in the matter. I have the honour to wish you a very good-morning.” He bowed, and, turning away without observing the hand which the King had stretched out to him, he set off in my company for his chambers.

And that was how a great scandal threatened to affect the kingdom of Bohemia, and how the best plans of Mr. Sherlock Holmes were beaten by a woman’s wit. He used to make merry over the cleverness of women, but I have not heard him do it of late. And when he speaks of Irene Adler, or when he refers to her photograph, it is always under the honourable title of the woman.

I had called upon my friend, Mr. Sherlock Holmes, one day in the autumn of last year and found him in deep conversation with a very stout, florid-faced, elderly gentleman with fiery red hair. With an apology for my intrusion, I was about to withdraw when Holmes pulled me abruptly into the room and closed the door behind me.

“You could not possibly have come at a better time, my dear Watson,” he said cordially.

“I was afraid that you were engaged.”

“So I am. Very much so.”

“But you can’t,” said the Major.

“What can’t you?”

“Choose. Either your direction or your destination.” The Major was obstinate.

“Really!” said Sir William. “I have not found it so. I have not found it so. I have had to keep myself hard at work, all my life, choosing between this or that.”

“And we,” said the Major, “have no choice, except between this or nothing.”

“Really! I am afraid,” said Sir William, “I am afraid I am too old— or too young—which shall I say?—to understand.”

“Too young, sir,” said Arthur sweetly. “The child was always father to the man, I believe.”

“I confess the Major makes me feel childish,” said the old man. “The choice between this or nothing is a puzzler to me. Can you help me out, Mr. Sisson? What do you make of this this–or–nothing business? I can understand neck–or–nothing—–”

“I prefer the NOTHING part of it to the THIS part of it,” said Aaron, grinning.

“Colonel,” said the old man, “throw a little light on this nothingness.”

“No, Sir William,” said the Colonel. “I am all right as I am.”

“As a matter of fact, so are we all, perfectly A–one,” said Arthur.

Aaron broke into a laugh.

“That’s the top and bottom of it,” he laughed, flushed with wine, and handsome. We’re all as right as ninepence. Only it’s rather nice to talk.”

“There!” said Sir William. “We’re all as right as ninepence! We’re all as right ninepence. So there well leave it, before the Major has time to say he is twopence short.” Laughing his strange old soundless laugh, Sir William rose and made a little bow. “Come up and join the ladies in a minute or two,” he said. Arthur opened the door for him and he left the room.

The four men were silent for a moment—then the Colonel whipped up the decanter and filled his glass. Then he stood up and clinked glasses with Aaron, like a real old sport.

“Luck to you,” he said.

“Thanks,” said Aaron.

“You’re going in the morning?” said Arthur.

“Yes,” said Aaron.

“What train?” said Arthur.

“Eight–forty.”

“Oh—then we shan’t see you again. Well—best of luck.”

“Best of luck—” echoed the Colonel.

“Same to you,” said Aaron, and they all peered over their glasses and quite loved one another for a rosy minute.

“I should like to know, though,” said the hollow–cheeked young Major with the black flap over his eye, “whether you do really mean you are all right—that it is all right with you—or whether you only say so to get away from the responsibility.”

“I mean I don’t really care—I don’t a damn—let the devil take it all.”