Prosperity's stake in the SPV for twenty million dollars, for same-day settlement. I want you to tell administration to process the trade immediately, and call you back when the funds transfer is confirmed. I'll watch.'

I thought Hamilton's last instruction through. It would allow him to make sure Phoenix Prosperity didn't lose their $20 million after all.

Hamilton continued. 'I will call Dick Waigel every five minutes. If you try any funny stuff, or if he doesn't hear from me, Cathy is dead.'

I sighed. There was nothing for it but to do what Hamilton wanted. I sat down at my desk and pulled out some blank tickets. Just then the line flashed. Hamilton held out his hand to stop me, but he was too late. 'Yes?' I said.

'Paul, it's Robert Denny.'

'Oh, hallo,' I said.

'I know you can't talk now,' he said, 'but everything's ready for you to come round with Hamilton and Rob. The police are here, waiting.'

'Not Powell?' I said.

'Inspector Powell is here, but I've got his boss as well, Chief Inspector Deane. There are also two men from the Serious Fraud Office. And the FBI are standing by to snatch Waigel in New York.'

Hamilton couldn't hear what Denny was saying, but he was watching me closely. I looked up at the clock. One thirty-seven. Hamilton's eyes followed mine. 'One minute to go,' he said.

'Are they right outside his office?' I asked Denny.

'Hold on,' he said. I heard muffled voices on the other end of the line. They took for ever. I watched the second hand race round the face of the clock, heading fast for the number twelve. I knew our clocks were accurate to the second, I hoped Waigel's would be equally precise. 'Yes, they are right there.'

'I won't call Dick Waigel back unless you hang up now,' said Hamilton. I glanced at him. He meant it.

My mind raced. This was the best chance I would get to stop Hamilton. If I let it slip, there could never be any guarantee that Cathy would be safe. And I couldn't let him just walk away.

I took a decision.

'Listen closely,' I said to Denny, speaking rapidly. 'Tell the FBI to snatch Waigel right now. And send some police round here. Do it quick. We only have seconds. I'll explain in a minute.'

'Right,' said Denny, and rang off.

My heart was thumping at the risk I had taken. I put the phone down and stood up straight, looking directly at Hamilton. His eyes were wide open with surprise. He hadn't expected this. 'I wasn't bluffing,' he said. 'Cathy is dead.'

He bent down slowly, picked up his briefcase, and backed towards the door, his eyes never leaving my face.

I caught the movement of something rushing towards the desk beside Hamilton. Rob vaulted over it, sending a computer crashing to the ground, and hurled himself on to him.

They both hit the ground hard. Rob let out a cry and grabbed his shoulder. As Hamilton pulled himself to his feet, I leapt on top of him. He struggled, but Rob joined me, and in a few moments we had him pinned to the floor, Rob on his legs, and me on his shoulders.

'Tie his hands,' shouted Rob.

I looked for something to bind him, and grabbed at the electric lead sticking out of the computer that lay cracked on the floor. I yanked it out and tried to wrap it round Hamilton's hands.

It was difficult. Even with two of us, Hamilton was wriggling and thrashing, and we couldn't keep his wrists in one place long enough to tie them.

'Keep still!' I shouted.

Hamilton took no notice, and somehow managed to kick Rob hard in the ribs.

I took the flex and wrapped it round his neck, pulling his head back.

'Keep still, I said!'

He bucked and nearly threw me off his shoulders. I pulled back on the flex hard. Anger rushed through me. Here was the bastard who had betrayed me, deceived me, who had cheated, lied and killed. He would have murdered Cathy as well if he had had the chance. In fact, he might already have succeeded.

I gritted my teeth and pulled harder. The blood rushed in my ears. The body underneath me stopped moving. I half heard Rob shouting my name.

Then I felt strong hands grab the flex and pull it away from me. Other hands picked me up off Hamilton. I looked down at him. His head flopped to the ground, and he took huge wheezing gulps of air. Spittle dripped down from his open mouth. His face was bright red.

I slumped back into a chair, the anger draining out of me. A small voice of common sense told me I was glad I hadn't killed him. A policeman was kneeling over him, and another had his arms firmly on my shoulders. Two more were watching, one talking urgently into his radio. My mind cleared. Cathy! I leapt to my desk and rang Denny. He put me on a speakerphone with Chief Inspector Deane.

In a few seconds I told them what had happened. Deane had some questions.

I didn't answer them. I needed to know about Cathy. 'Did the FBI get Waigel?' I said. 'And had he made the phone call to the hit-man? Can you find out right now?'

'All right,' he said. He left me on the speakerphone. I could hear muffled radio conversation, but I couldn't make out the words. Two of the policemen handcuffed Hamilton and bundled him out of the trading room, still wheezing. I was glad he was out of my sight.

A very long minute later, Deane's voice came back on the phone. 'They've got Waigel,' he said.

'Had he made a phone call?' I said, my hopes raised.

'He was just putting the phone down when they entered his office.' Deane's voice was grim. 'He won't say who he was calling, but from the way he is acting, the FBI men there think it must be the hit-man.'

Oh God. I had blown it. Oh Cathy, Cathy, Cathy!

'Mr Murray?' It was Deane's voice, insistent. 'We need to know where she is.'

'Right. I'll find out.'

I hit the cancel button and called Cash.

'Y'allo.'

'Cash. It's all going wrong. Waigel has put a hit-man on to Cathy. Do you know where she is?'

'What's up? I thought you were going over to Denny's this afternoon. What happened?'

'Look, I have no time to talk. Just tell me where Cathy is, will you?'

'OK, OK. I've got her itinerary here. Let me see.' Come on. I willed him to hurry up. 'Here it is. She has a meeting at nine o'clock at Arab American Investment. That's at 520 Madison Avenue. She's staying at the Intercon. Knowing her, she's probably walking there right now.'

'Thanks. Talk to you later.'

I hung up, and got back to Deane. I told him what Cash had told me. 'Right,' he said. 'It's ten to two our time, that's ten to nine in New York. She should be almost there. I'll get the FBI on to it.'

I put down the phone. I sat hunched at my desk staring at the screens. I didn't take in any of the green figures and letters in front of my eyes. I was looking at a New York street, searching for Cathy.

The clock ticked loudly. The police radios behind me crackled. I was in my usual position, sitting at my desk, waiting for the phone to ring. But this time it wasn't paper money at stake. It was Cathy's life.

How could I have been so stupid? Why had I taken the risk? This wasn't some damn trade. Stupid! Stupid! Stupid!

The phone flashed. I picked it up. Down a fuzzy line, I heard the sound of traffic.

'Paul! It's Cathy.' I could hardly hear her voice, it was an urgent whisper. But she was alive! So far.

'Yes?'

'I'm scared. There's a man following me, I'm sure of it. He's followed me all the way up from the hotel.'

'What's he doing now?'

'He's leaning against the wall of a church, reading his paper, acting as if he hasn't seen me.'

'Is it crowded?'

'Yes. I'm right off Fifth Avenue. There are people everywhere.'

'Good. Now, where are you exactly?'

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