"Those facts do not interest me, Caudrey."
Caudrey flattened back in his chair, too astounded to speak. At last, he exploded.
"Don't you understand?" he demanded. "I'm going to get the three million! I'm buying the house through a proxy named Hurden. I'll have workers - the right type - open the wall for me. But there are many details that might cause complications. That's why I want to insure the enterprise."
Bradthaw shook his head. Caudrey couldn't understand.
"It comes under the head of crime insurance," he insisted. "I can supply you with all proof necessary for you to insure the case. It will come under Preferred Class, Triple A. A ten per cent premium, amounting to three hundred thousand dollars.
"In Preferred policies, particularly Triple A, you allow the policyholder to pay after the crime is completed. If it misses - as such cases rarely do - you pay the face of the policy and deduct the premium.
I shall request that in this instance. Quite a usual procedure, Bradthaw."
Bradthaw's head finished its shake.
"We are issuing no more Preferred policies," declared the insurance magnate. "The best that I can do, Caudrey, is give you a policy in the Risk Group. The premium will be fifty per cent. Half of the three million that you hope to acquire."
"I - I can't understand that," sputtered Caudrey. "You can't mean it, Bradthaw! Why, I - I know the insurance figures, because - well, didn't I prepare them?"
"You did," affirmed Bradthaw. "But you overlooked the most important factor! I am not blaming you, Caudrey. It was something that we ourselves should have foreseen. You did not figure The Shadow hazard."
Caudrey stared, perplexed. His lips phrased the term that was new to him:
"The Shadow hazard?"
"Precisely," informed Bradthaw. "Every form of insurance is faced by definite hazards that must be recognized. In casualty, carelessness is a hazard. With automobile insurance, reckless or drunken drivers constitute a serious problem. Improper building construction produces a fire hazard.
"Crime insurance is no exception to the usual run. We looked for trouble from the law, and calculated it accurately. Crime insurance operated successfully for several months; then our losses began to swallow our profits. We found the reason: The Shadow!"
THE name was unfamiliar to Caudrey. He recognized by Bradthaw's tone that the insurance magnate was speaking of a person. Caudrey asked the logical question:
"Who is The Shadow?"
"That is what we want to know," returned Bradthaw, grimly. "We have learned only that The Shadow is a black-clad meddler who makes it his unwarranted business to interfere with crime. Who he is - where he is - those are questions that constitute a total mystery."
"If you could find him, you might buy him off."
"Not The Shadow. The nastiest trait that he possesses is integrity. We have learned that much through inquiry. Bah! The fellow must be insane! Otherwise, he would sell out. Every sane man has a price."
Caudrey agreed with Bradthaw on that point. But it did not help the problem. Seeing that Caudrey was interested, Bradthaw provided a brief review.
"Through the brokers that we chose," he explained, "we reached the cleverest crooks in the underworld.
The chaps who call themselves big-shots. They jumped at the offer of crime insurance. They provided us with detailed plans of their schemes. We issued them policies and they paid the premiums.
"We took in half a million dollars the first month; and paid only one claim, a paltry twenty thousand dollars. The second month showed a million dollars in premiums; with claims of one hundred and thirty thousand dollars.
"The third month our premiums brought us another million, but we were forced to pay out twice that sum for crimes that failed. The Shadow hazard was the cause. The Shadow ruined our business - not only by anticipating crimes; he also drove some of our best policyholders to cover!"
Bradthaw plucked a newspaper from his desk; he pointed to a picture of Duke Unrig, that was accompanied by an account of how the police had found the big-shot's body in a squalid hide-out.
"Read this, Caudrey!" declared Bradthaw. "You mentioned the name of Melrue. I know the name. We paid Unrig one hundred thousand dollars after he failed to acquire the Melrue girl's gems. You have read about the frustrated holdup at the Gotham Trust Company. We paid Unrig a quarter million on that claim.
"Both of those crimes were spoiled by The Shadow. Every case that comes to us must be regarded as an absolute risk until the hazard is eliminated. That is why I cannot give you a preferred policy, Caudrey, much though I would like to do so."
Bradthaw sat down. His manner signified that the interview was ended. He began to sort through papers that lay upon the desk. One was the message that had come from Strampf. Bradthaw was reading it when Caudrey arose dejectedly, to take his leave.
"Wait!"
Bradthaw's exclamation halted Caudrey. The actuary saw the insurance executive glance at his watch. It was almost half past two. Bradthaw smiled; motioned for Caudrey to sit down.
"I expect another visitor," remarked Bradthaw. "I should like you to be here, Caudrey. Perhaps, when we have discussed matters, we shall be able to issue you a policy in the Preferred Class, Triple A!"
There was a confident smile on Bradthaw's compressed lips, as crime's profiteer sat back to await the arrival of Strampf.
CHAPTER X. CRIME SPREADS THE DRAGNET
STRAMPF was announced punctually at half past two. Caudrey showed a gleam of recognition when the spidery man entered Bradthaw's office. Caudrey knew Strampf by sight and reputation. The fellow was a wizard in his particular line.
Strampf was an insurance investigator. For years, he had tracked down false claims, exposing schemers who tried to swindle big insurance companies. It was Strampf who had traced the five wives of Algernon Ringley, all supposedly dead. Ringley had collected insurance in each case and had divided proceeds with the women.
At present, all were in prison for fraud; and Ringley had been tagged with a bigamy sentence, in addition.
Similarly, Arno Shawlee was safe behind bars. He had been the mainspring of an arson ring that collected huge sums from fire insurance companies. Shawlee's arrest was also credited to Strampf.
There were other cases; dozen of them. Strampf had produced results in every field of insurance. Not only was he a genius in his own right; he was smart enough to employ clever subordinates. He had them everywhere, in every walk of life. Persons who produced the information that Strampf wanted, and gave it without question.
Louis Caudrey had a high regard for Marvin Bradthaw's cunning. That regard was greatly increased when Caudrey learned that Bradthaw owned Strampf.
In a sense, Strampf was a human machine, who did any task to which it was put. Strampf's one joy was the accomplishment of such tasks. Such matters as ethics and human welfare did not interest the fellow.
Marvin Bradthaw had recognized that trait in Strampf. That was why he had acquired the remarkable investigator. Bradthaw had put Strampf to the task of studying the hazards in crime insurance, and finding methods of removing them. Specifically, that meant that this man with a clockwork brain had investigated The Shadow.
Most amazing was the fact that Strampf had gained his results in a very short time. Although his preliminary work had begun ten days ago, his really active efforts had been recent. Once he had chosen a plan of operation, Strampf made things move.
"THE Melrue case," stated Strampf in his harsh, mechanical tone. "We know that Wally Drillick was intercepted before he reached the Adair Apartments. I have identified the man who took Drillick's peace.