That was the way Ace figured it, as he tightened his finger on the trigger.

Something stopped Ace's shot. It was a sound that rose strident above the loud ringing of the telephone bell. That token was a mocking laugh that Ace Gandley had never expected to hear again. Ace wheeled to the far door of the room.

There stood The Shadow, framed against a dimly lighted stairway.

Ace blinked as though he had seen a ghost. That, however, did not stop his move. Dead or alive, ghost or human, The Shadow was crime's greatest foe. Ace jabbed his gun muzzle toward The Shadow and yanked hard at the trigger.

Two guns spoke together. One was Ace's swinging revolver; the other, an automatic that loomed from The Shadow's fist. Muzzles spat flame; two bullets found instant lodgment; but those resting places differed.

Ace's shot was hasty. Its slug carved deep into the woodwork beside The Shadow's shoulder. The Shadow's bullet went straight to its mark - the heart of Ace Gandley.

CROOKS in the passage saw Ace fall. They turned, as they heard the challenge of The Shadow's laugh.

To others, that strident mockery was a battle-cry. From the wall of the inner room, five agents of The Shadow came forward with a surge.

They were battling for the machine guns before killers had a chance to use those weapons. Crooks whipped out revolvers; the fighting agents grappled for them. In the midst of the instant fray, The Shadow came sweeping through to aid them. Close behind The Shadow was Jericho and Tapper.

Tapper saw Burbank struggling with Kelvey. He jumped to Burbank's aid. Kelvey was trying to pull a revolver. Tapper settled that with one of his own. A neat crack to Kelvey's skull put the fellow out of commission.

Coming to his feet, Burbank grabbed for the telephone. It was his turn to provide an imitation. In raspy voice, he announced:

'This is Kelvey.'

'All is ready!' The words came in the harsh voice of Strampf. 'Give the order to Ace!'

Burbank had clamped his hand over the mouthpiece. He lifted it slightly, so Strampf could hear him rasp:

'Let 'em take it, Ace!'

For a few seconds more, Burbank kept the mouthpiece covered. Shots were starting in the inner room.

As the barrage increased, Burbank lifted his hand entirely. Across the wire went the sounds of intermittent gunfire, followed by the sudden drill of a machine gun.

With that came silence.

'Hear it?' questioned Burbank across the wire. 'Ace gave it! We're ready to lam!'

AS Burbank hung up the receiver, a procession came through from the prison room. That parade showed how the battle had finished. There had been six thugs in the death squad. All had fared badly.

One unscathed thug came first, his hands upraised. Behind him were Harry and Cliff each poking him with a gun. Next came two thugs, unable to navigate of their own accord.

Jericho had charge of them. He had each crippled rowdy by the coat collar and was supporting them so they could stumble ahead.

Clyde Burke came out between Rutledge Mann and Moe Shrevnitz. Clyde was grinning while he clutched a wounded shoulder. He was the only one of The Shadow's followers who had taken a chance bullet while killers were being disarmed.

After that group came Hawkeye.

Last was The Shadow. No others followed. Three of Ace's murderous mob were lying dead in the prison room.

To Burbank, The Shadow gave a single-worded order:

'Report!'

Methodically Burbank told how he had handled Strampf's telephone call. He pointed out the switch that controlled the lights. Burbank suspected that it had a double purpose. The Shadow agreed.

The cloaked victor sent his agents ahead with the prisoners, including Kelvey who had recovered from Tapper's slug on the head. The Shadow retained Hawkeye so that he and Burbank could carry the crate that held the portable black-ray machine.

When they had gone, The Shadow waited in the room that had once been Ace Gandley's headquarters.

When all had gained time to reach the outside doors, The Shadow pulled the switch. Blackness followed; using a flashlight, The Shadow went up the stairs. Through the back door, he chose the path to the rear street. He arrived there, to find the others waiting. The Shadow paused.

From the front street came the muffled thunder of a deep-placed explosion. It was followed by a prolonged clatter, as the old house tumbled into ruins. Burbank was right; that light switch was set to touch off a timed explosion.

Crooks had intended that blast to cover up new evidence of death. The explosion had served its purpose. Bullet-riddled bodies lay beneath the ruins; but they were not the ones that Bradthaw and Strampf had planned should be there.

Ace Gandley and three of his thuggish crew had gone to the grave intended for The Shadow's agents.

CHAPTER XXI. CROOKS CLAIM WEALTH

THE explosion at the old house was the final touch of The Shadow's strategy. News of that blast traveled far and rapidly. It came to Marvin Bradthaw, in his fortieth-story office.

There, the insurance magnate was seated at his desk, while Strampf handled the dials of a big radio set.

They were listening to police calls. Within three minutes after the explosion, the plotters heard the orders that went to the radio patrol.

Bradthaw gave a nod. Strampf turned off the radio and came to the desk. He listened to Bradthaw's comment.

'Kelvey answered your telephone call,' chuckled the criminal executive. 'You heard the machine gun over the wire. The news of the explosion was all we needed. We are ready to deal with the Melrues when they arrive.'

'That should he very soon,' concurred Strampf. 'Caudrey is well on his way.'

With only a few minutes to wait, Bradthaw indulged in further comments.

'They will suspect nothing,' he declared. 'Nor will anyone else. I dismissed the office staff before eight o'clock. I stayed here presumably to hear the WNX broadcast and judge its commercial merits.'

Strampf was nodding when Bradthaw paused. After a short silence Bradthaw added:

'It is unnecessary to have watchers outside this building. That was why I told you to bring none. Of course, we require the fake elevator man that you provided. He will obligingly forget that the Melrue heirs came up here but never returned below.'

'That means,' remarked Strampf, 'that we shall take them down in the service elevator ourselves.'

'Certainly. It will make them trust us all the more.'

'Until they are put into the truck that is waiting for them -'

'After that, Strampf, nothing will matter.'

The conversation ended. From somewhere outside the office came the muffled thump of an elevator door. It meant that Caudrey had arrived with the Melrues aboard the passenger elevator.

'Remember one thing,' cautioned Bradthaw, leaning toward Strampf. 'We must learn all that these people know before we show our hand.'

Strampf nodded. He ended the motion abruptly when the door opened.

Bradthaw came to his feet to greet Caudrey. He smiled when the actuary introduced George and Francine.

BRADTHAW'S smile appeared to be one of welcome. Its real inspiration was his sight of the suitcase that George placed carefully beside the big desk.

After shaking hands with the visitors, Bradthaw explained matters in his convincing basso. His story was direct.

As Bradthaw put it, he had heard from The Shadow. He was to assume custody of the three million dollars,

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