events of the past.

'Has everything been all right?' he asked. 'All right since the affair of the Russian jewels?'

Bruce Duncan nodded.

'You have told no one?' questioned Harry.

'No one,' replied Duncan. 'I have preserved absolute secrecy.'

'Have you ever seen the messenger since -'

'Berchik? No. I have no idea what became of him.'

'You are wise to keep your secret.'

'I know it, Harry,' said Bruce Duncan soberly. 'You can be sure that I have kept silence. You know the

secret of those jewels.

'They were the wealth of a Russian prince. My uncle was to receive them, and give shares to other

people. But my uncle died before Berchik arrived, and the task fell upon me. I distributed the shares

anonymously.

'There are only two men in America who know that I received the jewels. You and myself.'

Harry Vincent shook his head.

'The Shadow knows,' he corrected.

'That is true,' agreed Duncan. 'Of course The Shadow knows. Had it not been for The Shadow, you

and I would be dead.'

'He rescued me again, last night,' said Harry, quietly. 'Remember, Bruce, you must never mention The

Shadow—to any one but myself.'

'I understand. Your connection with The Shadow is as important a secret to you as the jewels are to me.

Well, I have the jewels stowed safely away in a safe-deposit vault.

'I know where they are. But do you know where The Shadow is?'

'He seems to be everywhere, Bruce,' laughed Harry. 'I have had exciting adventures since I last saw

you; and I appear to be on the verge of new experiences.'

A ring from the telephone interrupted the conversation. Harry answered.

'Oh, yes,' Duncan heard him say. 'I forgot that the insurance policy ran out to-day. I'll stop over before

five o'clock.'

Harry hung up. He resumed conversation with Duncan.

THE subject changed; they discussed various unimportant matters, and finally Bruce Duncan reverted to

the trip from which he had just returned.

'One makes many interesting acquaintances, traveling abroad,' he said. 'I met a German coming back on

the boat. He has been living here in New York for several years.

'He invited me to a party, night before last. I was introduced to some very interesting people. One in

particular -'

He smiled and looked at his watch.

'I have a luncheon engagement,' he said. 'Can't you come along with me? I'd like you to meet the person

of whom I am speaking.'

'Who. The German?'

'No. My new friend. The one to whom I was introduced.'

'All right,' agreed Harry. 'I don't have anything to do until late this afternoon, when I have an

appointment with an insurance man. I'll be glad to go along with you.'

Harry was glad to have met Bruce Duncan again.

They continued their talk as they left the hotel. Harry learned that Bruce was living alone, in an old

mansion which had belonged to his uncle.

Bruce's only attendant was a faithful Hindu servant, named Abdul. The Hindu had been abroad with

Bruce.

'I couldn't get along without Abdul,' remarked Bruce, as they walked down Broadway. 'He's been with

me for years. I brought him back from India, after a trip around the world.

'He's helped me out of some difficult places. He's not only a good bodyguard; he seems to have some

instinctive power that enables him to see danger before it arrives. His only fault is that he talks very little.

He keeps his knowledge to himself.'

THE two men entered the lobby of a Broadway hotel. Bruce led the way to the hotel cafe. The head

waiter recognized him.

'I have a table for you, Mr. Duncan,' he said.

'There will be three of us,' announced Bruce.

They sat at the table, and puffed at cigarettes. Bruce Duncan's eyes were toward the door. Suddenly he

arose, and left the dining room.

He returned a minute later. Harry looked up to see him approaching with a young woman as his

companion. Rising from the table, Harry turned to meet the new arrival. It had never occurred to him that

Bruce Duncan's friend might be a girl!

'Miss DeLand, may I present Mr. Vincent -'

Harry was staring in amazement before Bruce Duncan had completed the introduction.

The young woman was the one who had come to his assistance last night, in the Pink Rat!

He had seen her at a distance then; now, at close vision, she appeared more beautiful than before. Harry

was positive of her identity; and he fancied that he saw a gleam of recognition in the girl's eyes.

Harry quickly regained his composure.

'Haven't I met you before?' he questioned.

The girl shook her head. She no longer betrayed a look of recognition.

As they sat at the lunch table, Harry Vincent was thoughtful. The tone of the girl's voice, her smile, and

her manner left no room for doubt.

She was the girl who had rescued him. Why did she pretend not to recognize him? What was her

purpose with Bruce Duncan?

Was she a friend or an enemy of The Shadow?

CHAPTER XI. NEW DEVELOPMENTS

IT was early in the evening. The old building on Twenty-third Street was dark. All the occupants of the

dingy offices had gone home a few hours before.

A single light gleamed in a room on the second floor. But any one going through the building would not

have observed it; for the room in which it appeared was thoroughly curtained. A black cloth hung over

the glass door on which the name 'B. Jonas' appeared.

Beneath the shaded light was a table, and there hands were at work. Like a creature of the night, The

Shadow was going over the data which he had received from his agent, Claude Fellows.

The insurance broker's report was one of definite information. It referred in part to Harry Vincent:

Vincent called at five o'clock. Followed Berger last night. Left him at theater. Followed man who had

been trailing Berger. Was lured to place known as Pink Rat. Learned name of man whom he followed.

Volovick.

Vincent attacked by Volovick and gang. Rescued by a girl who helped him hide in secret compartment

behind the wall of room. Girl disappeared. Vincent opened panel of wall by accident. Escaped through

aid of an unknown man who fought Volovick and his gang.

Vincent received a letter to-day. Forwarded it unopened. Letter inclosed herewith. Vincent also met girl

again. She was with Bruce Duncan. Has known Duncan only a few days. Her name is Arlette DeLand.

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