rumrunner. Zelva, sitting stolidly in his boat, was a target for The Shadow. By the time the boats had met,

they were entirely out of range of either ship.

Before the crew arrived, The Shadow appeared in the cabin. Producing an odd-shaped key, he released

Legira from the handcuffs. The Shadow disappeared into the corridor. Legira, wondering, went up on

deck.

He met the crew clambering over the side. The men hurried to their places. The rumrunner was in motion,

traveling away. Soon, the Cordova, too, was under way.

The captain, standing on the bridge, heard Legira speak from the darkness beside him. The words were

in Spanish. They were an order, telling him to head for the mouth of Delaware Bay.

It was not Legira who had spoken. Legira was below, superintending the removal of the bodies of

Ellsdorff and Pesano. It was The Shadow who had spoken. He had simulated the voice of Alvarez

Legira.

The Shadow had rescued Legira and the crew of the captured vessel. Pesano and Ellsdorff were dead.

But Rodriguez Zelva still lived, by virtue of a promise that he would never keep.

This was the result of the compromise.

CHAPTER XXVII. THE JUST REWARD

ALVAREZ LEGIRA stopped at the door of Cabin A. This was the only spot of the ship that he had not

searched. He wanted to find The Shadow—to express his gratitude for the work that the mysterious man

had done.

The door swung open as Legira knocked. The consul entered. There was a light at the far end of the

room. He walked in that direction; then turned to see The Shadow standing by the door.

A low laugh reached Legira's ears. The Shadow spoke in a quiet tone.

“You are going to Santander?” he asked.

“Yes,” replied Legira.

“You will abide by your agreement with Zelva, should he come there?” questioned The Shadow.

“Zelva will never come,” said Legira. “I shall be in disgrace. I have failed. The money is gone. The

Republic of Santander is ended!”

“Suppose that you should have the money,” said The Shadow, quietly, “would you divide it with Zelva if

he came to keep the meeting?”

“I have so agreed,” stated Legira. “I shall abide by my promise.”

The Shadow silently studied his man. Then, he spoke in a low, emphatic tone.

“Pesano and I did business together,” he remarked. “Your strong room is very strong—yet not so strong.

We had time to do our work. Those bags beside you—”

Legira noted the bags in the nearest corner of the room. They were large, heavy traveling bags.

“Open them.”

Legira obeyed The Shadow's order. An amazed, incredulous cry came from his lips. Within the bags lay

the wealth that Legira had obtained in New York! Gold certificates, securities—the entire ten million—

all there!

Legira realized with amazing suddenness that The Shadow, aided by Pesano, had done this work. Here,

on the Cordova, Legira was sailing free from every obstacle, carrying the funds to Santander!

“But Zelva!” Legira's exclamation was spontaneous. “He has the box - the box—it contains nothing?”

“The box contains something,” said The Shadow quietly. “Remember your promise, Legira. If Zelva

comes with that box—unopened—you must give him his share. But do not let any one open the box.

You will receive word from me what to do with it.”

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