Alfred Hitchcock’s Mystery Magazine. Vol. 48, No. 1, January 2003

Morgan nodded affably. “Correct in every particular. If you don’t, of course, then this — or not this, for this is merely a copy, the original is in that safe—” he nodded to a portrait on the wall “—and I don’t think even you will open that, Mr. Raffles — the original, signed, sealed and notarized, will be with the police in a matter of days. In fact, you can keep this copy,” and he threw the sheet of paper to Raffles, who caught it, glanced at it, put a match to it, and flung it, alight, into the large glass ashtray on Morgan’s desk.

“But why do you want anyone to steal your wife’s necklace?” I asked, puzzled.

It was Raffles who answered. “Because he’s broke,” he said quietly. “As broke as you or I, Bunny! Broker, if that’s the right word. Those nasty rumours in the city are true, then. But he dare not admit it, even to his wife.”

“But why theft?” I persisted. “Why make a fuss that is sure to involve the police? If I were in your position, I’d have a copy made and swap the two of them without—” I broke off, for Morgan had given a guilty start.

“You have such a copy?” asked Raffles.

Morgan started to speak, then got up, moved the picture and fiddled with the safe — making sure we could not see him as he did so — and threw a leather case on the desk. Raffles picked it up and opened it, whistled, and showed me the contents.

“They look real!” was all I could stammer.

“You—!” said Morgan with considerable contempt. “They ought to, since they cost a small fortune, for all that they’re fakes. This is a new process, never been marketed, and it won’t be, for I bought up the patents from the — fool who invented it. Only a jeweller, and a good one, could tell the difference.”

“Then why steal the originals?” I persisted. “Why not just swap them? A lot less fuss and bother, you know.”

Morgan gave a gasp, and looked away in disgust.

“He wants the insurance money, Bunny!” Raffles explained. “He wants to be paid twice, once by the insurance company, once by the fence to whom he will sell the stones. I shouldn’t use—, though,” he told Morgan quite seriously, “for he will cheat you. And then betray you,” he added, steel in his voice. “Yes, Bunny. An ingenious enough scheme, if it does smack of greed and avarice. I had better take this,” he said, hefting the fake necklace casually in his hand.

“No, you won’t, you—!” and Morgan produced a wicked-looking little revolver, apparently from thin air.

“Consider!” said Raffles earnestly. “I steal the real necklace — for I assure you that Bunny here is pure as the snow now driving against your window — and what will happen? The police will want to search everyone in the house, the innocent and the guilty. They will ask you to open the safe, and lo! The necklace — this necklace, that is, real to all outward appearances — is in there. They will immediately suspect an insurance fraud, and arrest you. You will, I give you my word, be far safer letting me take the fake as well as the real thing.”

Morgan jerked the barrel of the revolver in a menacing fashion. “Hand it over!” Raffles reluctantly did so, and Morgan went on, “All very clever, Mr. Raffles, but the police won’t search anyone in the house, not even you — for the simple reason that you will make it look as if the thieves came from outside. There have been one or two burglaries in the area just lately — real ones, sheer coincidence, nothing to do with me — and the police will assume that it is the same gang, an assumption which your fellow guests — excellent folk, all — will confirm is correct. Take your time, examine the house tomorrow, and do the job tomorrow night — I suggest when everyone’s in bed, my wife is a heavy sleeper, and I won’t disturb you if I hear you — but I’ll leave the time to your discretion. And I’ll leave the other little details, footprints in the snow, jemmied windows, and the rest of it, to you as well. I’m sure you know more about these things than I do,” he added offensively, putting the fake necklace back in the safe. “And for good measure, if there is any doubt in the minds of the local constabulary, I have the receipts and so on for the copy, and any decent jeweller will confirm that it is a copy. Call me sentimental if you will, but the fake did cost a good deal, and I don’t want to part with it.”

“Particularly as it looks so very real?” said Raffles quietly. “After all, why settle for two payments if you can get three? The average fence wouldn’t realize that that’s a fake, or not until it’s too late.”

Morgan laughed in his face. “I knew you were the boy! A man after my own heart! A great pity we didn’t meet sooner, for we might have worked together.”

Raffles shuddered at the thought. “Very well, I agree, since I have no choice. You’ll give me the run of the house tomorrow to weigh things up?”

“Of course, as long as you’re discreet.”

“And when the job is done, you’ll hand over that statement?”