In the centre of the room, clamped to an upright easel, stood the full-length portrait of a young man of extraordinary personal beauty, and in front of it, some little distance away, was sitting the artist himself, Basil Hallward, whose sudden disappearance some years ago caused, at the time, such public excitement, and gave rise to so many strange conjectures.
Often, on returning home from one of those mysterious and prolonged absences that gave rise to such strange conjecture among those who were his friends, or thought that they were so, he himself would creep upstairs to the locked room, open the door with the key that never left him now, and stand, with a mirror, in front of the portrait that Basil Hallward had painted of him, looking now at the evil and ageing face on the canvas, and now at the fair young face that laughed back at himů
There are no more uses of "conjecture" in the book.
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She dismissed it as mere conjecture.
It is important to distinguish between conjecture and fact.