With Dundy and Polhaus now gone, Spade curses Dundy for five minutes straight. Once he has regained composure, he asks O'Shaughnessy what happened with Cairo. She claims she was simply trying to frighten him into staying quiet and defended herself when he attacked, causing Spade to become frustrated again and tell her she that doesn’t know what she is doing.

Spade reminds her that since she has now talked to Cairo, it’s time for her to tell him what is going on. Again, she tries to avoid doing so, claiming that it is late and would take too long, and she should be heading home. Spade reminds her that the young man outside is likely still watching over the place. She asks him to check, and Spade does. The man is gone, but Spade lies and tells O'Shaughnessy he is still there, so they have lots of time.

O'Shaughnessy tells him that she doesn’t know what makes the falcon so valuable, but that she was offered £500 to help Cairo and Thursby get it from a Russian man named Kemidov in Marmora. After procuring the bird, Thursby then offered her £750 if they cut out Cairo, who was ostensibly planning to do the same to them.