`You have done well to find my horse,' replied the Colonel. 'You would do even better if you can catch the murderer of John Straker.' `I have done so,' said Holmes quietly. The Colonel and I looked at Holmes in complete surprise. `He is in my presence now,' continued my friend. `Mr Holmes, this is a very bad joke indeed,' said the Colonel angrily. Holmes laughed. 'I do not mean you, Colonel,' he explained. The real murderer stands right behind you,' and he placed his hand upon the horse. 'However, I must say that he killed to save himself, and that Straker was not the honest man he appear&I. But there's the bell for the next race. I shall tell you everything afterwards.'
Holmes makes it all quite clear During the train journey hack to London, Holmes explained to us how he had solved the mystery.