While dining at a restaurant, Raffles and Bunny discuss a recent series of unsolved robberies that have victimized London's wealthiest houses.

Raffles suspects the burglar is really a society gentleman who steals while attending social functions.

Raffles has used this suspicion, and the lists of names of social function's attendees printed in the Morning Post, to deduce the burglar's identity: Lord Ernest Belville, a relatively poor yet respected society man, and a well-known advocate for temperate drinking.

With Bunny's help, Raffles opens each with a gimlet, and finds Lord Ernest's stolen jewelry.

Raffles then passes his bared revolver to Bunny, and leaves on the pretense of calling a cab.

Raffles, remaining calm, proposes partnership, but Lord Ernest refuses to release Bunny.

Raffles slips Bunny free using soap and water, and brings him to their flat to nurse him overnight.