fear.'
'Death?'
'Death. The sentence hovers above me now—for in speaking to you, Preston, I have violated the first law imposed by Gray Fist. In preserving this coded message, I have also gone against his order.'
ALARM flickered upon Ruggles Preston's face. The attorney seemed filled with anxiety regarding the safety of his friend. Worth Varden gave a steady smile in return.
'Do not worry, Preston,' he stated. 'I have freed myself from Gray Fist's snare. This, as I have mentioned, is the first order which has come from him. Should I follow it, there would be no escaping from the web. But I do not intend to follow it. I intend to take my freedom.'
'But your holdings in the San Salvador Corporation -'
'No longer exist,' interposed Varden. 'I anticipated this menace. I disposed of my holdings. I no longer have any responsibilities in the affairs of that corporation. Hence I am free to expose Gray Fist.'
'But you do not know his identity,' reminded Preston.
'Agreed,' answered Varden. 'Nevertheless, I have proof of his game. I can tell the police all that I know.
I can name Seth Cowry—for whom the police have been searching, by the way—and thus give them an inkling to a game which they have never suspected.'
'You are sure of your own safety?'
Another smile from Varden was the response to Preston's question. From the desk drawer, the importer lifted a stack of papers which were girdled with a rubber band.
'These documents,' he remarked, 'prove that I am out of the San Salvador Corporation. I intend to turn them over to the police along with the other evidence that I have gained. I have not been nonobservant, Preston. I do not know the identity of the Gray Fist, but I feel sure that I can point out traces of his work.
There are certain big business men who may also be beneath his sway. When the police arrive, Preston, you will learn all that I know.'
'When the police arrive!'
'Yes. I have called detective headquarters. One of the best investigators is coming here this evening— Detective Joe Cardona. I shall place this case entirely in his hands.'
Ruggles Preston said nothing, but Worth Varden's words had gained their effect. The lawyer realized that events of magnitude were brewing.
'I have told Cardona,' added Varden, 'that I can give him information regarding Seth Cowry. That impressed him the moment that he heard it over the telephone. He knows that the case is urgent. He will surely stop in here to-night.'
'I am glad you told me this, Varden,' said Preston thoughtfully. 'It enables me to suggest a plan whereby I may be of aid.'
'In the breaking of Gray Fist's game?'
'Yes. It is wise that you should be alone when Detective Cardona arrives.'
'Why?'
'Because you should certainly tell him that you have revealed your facts to no one.'
Varden nodded thoughtfully.
'Furthermore,' continued Preston, 'it is not wise that you should discuss matters here. You have told Cardona that danger threatens. You should insist that he leave this danger spot before you speak.'
'But where would we go?'
'To the most logical place under the circumstances. To see an attorney whom you know. It would not be wise for me to come here; it would be preferable for you to bring the detective—and the documents - to my home.'
'You're right, Preston!' exclaimed Varden. 'I'm glad you arrived early. If you leave now, you will be home by the time that Cardona arrives. I can call you there.'
'You can come there,' returned Preston. 'You can tell Cardona that you are sure I am at home. Forget that you have told me anything regarding Gray Fist. From what you say, the man must be a menacing fiend. Explain your story when you reach my home. Let me show the amazement that I would naturally feel.'
Worth Varden was still nodding. He arose from his chair, walked about the desk, and gripped Ruggles Preston's hand. The lawyer received the clasp warmly.
'You give me confidence, Preston,' declared Varden. 'You must leave here at once—and be cautious when you go. Though I have no evidence of the fact, I fear that Gray Fist may have watchers spying on this house.'
Walking back to his seat, Varden threw the documents and the gray paper into the desk drawer. He locked the drawer, then held up a warning hand as Preston arose to go.
'Let me look first,' said the importer, in a cautious tone. 'I can peer from the side door to make sure that all is clear. You can go as soon as I return.'
Varden sidled from the room and closed the door behind him so that the light of the study would not invade the hall. Preston was standing by the chair at the desk. A bitter smile crept over his lips.
From his pocket, Ruggles Preston withdrew an opened envelope. Out of it, he took a folded sheet of paper. He spread it rapidly, and held it to the light. The paper was gray!
PRESTON read lines that lay between the double surface. His smile remained as his hands replaced the paper in his pocket; then, as the door was opening, the lawyer resumed his steady demeanor.
Worth Varden was beckoning from the door. In response to his host, Ruggles Preston went to the hall.
Together, the two men reached the outer portal. Varden opened the barrier and whispered words of caution.
'The way is clear,' he said. 'Be careful, however. There is danger, but I feel confident. Whatever his suspicions, I feel sure that Gray Fist has not as yet placed watchers close enough to harm me.'
Preston stepped into the outer darkness. Varden closed the door. He returned through the corridor, and stood smiling in the light when he reached his study. The arrival and departure of Ruggles Preston had allayed his fears; the visit of the lawyer had been a comfortable interlude during the fateful period that was preceding the arrival of Detective Joe Cardona.
Gray Fist!
Worth Varden shuddered as he whispered the name. Gray Fist was powerful; Gray Fist had minions everywhere. Yet, with the police to aid him, Worth Varden was prepared to thwart Gray Fist.
The police were not all. Worth Varden had gained new confidence. He was sure that he could rely upon Ruggles Preston, the keen-eyed, fearless attorney who had come here as a friend.
Not for an instant did Worth Varden suspect that the man who had left this study was, like himself, within the toils of a superfiend!
Ruggles Preston, supposedly the best friend whom Varden knew, had secretly revealed himself as a minion of Gray Fist!
CHAPTER II. WORD TO THE SHADOW
DARKNESS had enshrouded the house where Worth Varden, self-freed minion of a superfiend, awaited the arrival of Joe Cardona, ace detective of the New York force. Between Varden's lighted study and the outer door lay a corridor of darkness.
Yet the gloom of that little hallway could not compare with the Stygian inkiness that existed in another spot located in Manhattan. Somewhere, lost amid the furore of the huge metropolis, lay a room where blackness and silence vied with one another for supremacy.
Solid, chunky darkness; such was the atmosphere in this mysterious room. Apart from the world, inclosed in secrecy, this unique chamber was a veritable vault that gave no token of a living presence.
Such was the strange abode which served as The Shadow's sanctum.
Time did not seem to exist within this darkness-shrouded room. Yet silence and gloom alike could cease when The Shadow made his presence known. The signal which marked their disappearance was a slight click that sounded amid blackness. The flickering rays of a bluish lamp were focused upon the polished surface of a table.
The Shadow's hands were busy. Into the light came an envelope. The long white fingers opened it. A sheet of
