A nasty but very rich business man and a world-famous opera singer are in Oxford to receive honorary degrees from the Chancellor of the University. However, the ceremony has to be abandoned when a sniper opens fire on the procession of dignitaries. The singer is seriously wounded, but was she the intended target?
Watson, on holiday in the Lake District, meets the enigmatic Lady Frances Carfax, who is being haunted by the ghost of a horseman. Holmes decides to come up to join Watson, but by the time he arrives Lady Frances has vanished without trace. Holmes investigates and becomes very curious about the ghost.