opportunity to pass him the envelope. They had worked the stunt before.

BACK in the apartment, Stollart had returned to the office. The secretary's face showed

tenseness. Stollart was holding letters in his hand; he intended to tell Harry Vincent that he

was going out to mail them. But Stollart saw no sign of Harry.

Quickly, the secretary crossed the room. Seating himself by the desk, he called a number.

He knew that it was a pay booth in the Union Station. Some one was supposed to be on

hand to receive the call.

A ringing sound; then came a voice that Stollart had heard before, although he did not know

the speaker. It was Marling. He spoke a key-word that Stollart understood. Lips close to the

receiver, Stollart gave the news.

'All set,' he whispered hoarsely. 'They fell for it... The time for the deal will be Wednesday

afternoon, right after two o'clock. Vincent will be out. For an hour. Navy Department... No,

nothing important... Yes, he'd probably recognize Dadren... I'll be ready...'

Stollart dropped the receiver abruptly and moved over toward the filing cabinet. He had

heard the sound of a closing door. A few moments later, Harry Vincent sauntered into the

office. Harry had passed the report to Cliff. He had arrived too late, however, to catch

Stollart telephoning.

It was not long before Vic Marquette returned. Senator Releston came in later. The vigil had

begun. From now on, those in the know would await the promised arrival of Commander

Joseph Dadren.

Harry Vincent was satisfied. He had sent word to The Shadow. His report, though brief, had

missed no point.

But Harry Vincent was not the only one of the four watchers who felt that he had played an

important part. Stollart, the smug secretary, had also passed the word along. Another of Eric

Hildrow's traitors, Stollart had paved the way for the master plotter's coming stroke.

CHAPTER XVII. THE SHADOW LAUGHS

NIGHT. A light was glowing in the room of Henry Arnaud. But the occupant of that room was

not in view. The light came from a table lamp that held a heavy shade. The only sphere of

illumination lay beneath the lamp itself.

Hands appeared beneath the light. Long, white hands, with fingers that moved like detached

creatures. Upon one finger glittered a resplendent gem: The Shadow's girasol. That jewel

was the only token of identity that The Shadow wore.

Temporarily, this Washington hotel room had become The Shadow's sanctum. Here, The

Shadow was analyzing the purpose that lay behind the letter from Commander Dadren. The

Shadow had read Harry Vincent's report in its entirety.

Pen and paper beneath the light, The Shadow was inscribing written thoughts in ink of vivid

blue, that faded as soon as it had dried. This was The Shadow's method. His keen

deductions came readily from the moving pen.

Unlike Senator Releston and Vic Marquette, The Shadow was finding a catch in the terms

which Commander Dadren had suggested. He knew that the letter had been dictated. He

was looking for the ideas that lay behind it.

$25,000

The Shadow's hand inscribed the sum required. A soft laugh sounded from the gloom above

the lamp. The Shadow could see the reason for the sum specified. Eric Hildrow—the man

whose identity was yet unknown to The Shadow —had chosen that amount with a purpose.

He had picked the highest sum at which he thought Senator Releston would not balk. It was

not the money that he sought. The amount would be trivial to so masterful a plotter. Man of

murder that he was, Eric Hildrow would have decided to kill Dadren rather than let him go at

so low a price.

Agreement

The single word appeared from The Shadow's pen. It told what lay behind Hildrow's

scheme. By getting Releston's accord, by lulling the senator to a belief that Dadren might be

released, the plotter had forestalled Releston's intention to notify the press.

Informant

Again, The Shadow laughed. How had the unknown plotter discovered that Releston was

about to spread the news? Why had he acted at the most crucial moment? There could be

only one answer: A spy in Releston's camp.

Stollart

The Shadow inscribed the name upon the blank space from which the preceding word had

faded. Polmore had been close to Professor Whitburn. Hasker had been Commander

Dadren's most trusted mechanic. It was obvious that Stollart was the only man in a position

to watch Senator Releston as closely as the master plotter required.

A pause. Then The Shadow's hand moved again. Slowly it inscribed two words; they told in

brief, the substance of Hildrow's game. They announced the only stake that the crooked

plotter could be after.

The plans

THE SHADOW'S deduction was well-calculated. He had noted an important item in Harry

Vincent's report. That was the fact that Dadren's letter had specified that the commander

would return bringing the 'duplicate plans.'

A crafty statement. The plotter had used it to fool Dadren. It had deceived Vic Marquette as

well. The Secret Service agent thought that the enemy had gained no inkling of the purpose

which Dadren's tracings were designed to serve.

But the Shadow, convinced that Stollart was a spy, saw clearly that Releston's secretary

must have informed the master plotter of the letter that Dadren had enclosed with the plans

themselves. Stollart, like Harry and Vic, had been present when Releston had told the story

of the tracings.

How did the unknown schemer intend to gain the plans from the senator's vault? The place

was too well watched. Stollart, a spy and not a fighter, could not be depended upon to gain

them. Harry's description of Releston's strong room had satisfied The Shadow.

Strategy, not strength, would be the method by which the unknown plotter would gain those

plans. Dadren's letter had paved the way. Seeking a method by which the master crook

could profit by Dadren's message, The Shadow found the answer.

His pen moved swiftly upon the paper. The Shadow was summarizing the facts that he had

learned, through various sources, about Eric Hildrow. Professor Whitburn had supplied

information. Polmore, in his confession to the professor had named the master crook as

Reginald Satterly.

A tall man—a red mustache—hair of the same color—a monocle—

These notations faded. Then came Whitburn's own description of the man whom he had

seen; the one whom Nuland had recognized as his chief.

Sallow—black hair—black mustache—

A dying crook had coughed out a confession in the Hotel Halcyon. His description of Eric

Hildrow had begun like Whitburn's. Then the man had added words which The Shadow now

wrote:

Changed—to a beard—

That change had come after the departure from Death Island, when Hildrow was faring forth

to arrange for the capture of Commander Dadren. That was the guise in which Dadren must

have met him. The character of a bearded man.

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