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SHIRLEY LAUSTIN appeared at the door. Both guests arose. Howard Laustin motioned to his daughter to close the door, while he arose to introduce Lamont Cranston and Rodney Casper.

“I see that you are wearing the topaz pendant, my dear,” remarked Laustin. “Look at this jewel, gentlemen.” He raised the pendant in his palm and held it toward the light. “I was just about to mention it when Shirley arrived. This jewel once belonged to the collection of a Spanish grandee. A friend of mine purchased it with the entire lot of gems. I, in turn, bought it from my friend.”

“I came to ask you about this pendant, father,” interposed Shirley. “The gypsy fortune teller said that it was Spanish. She told me it will bring good luck. It is an amulet. Whom did you buy it from?”

“That is supposedly a confidential matter,” responded Laustin. “However, I feel that neither of these gentlemen will mention the name of the former owner. I bought the topaz from Hampton Uhler.”

“The man who lives at Theswick?”

“Yes. He has a large estate on the west bank of the Hudson. He has invited me to come there to see his full collection. I told him that I might make further purchases.”

“Who was the original owner of the topaz?” asked Casper, in an easy tone. “I mean the Spanish grandee?”

“Uhler did not tell me,” replied Laustin. “That, apparently, is a secret. I fancy that the grandee — being forced to sacrifice his fortune — did not want the details known.”

Laustin had released the pendant. Shirley bowed to the guests and left the library. The three men resumed their seats. Cranston and Casper accepted cigars that Laustin offered them.

“Uhler is wealthy,” stated Laustin. “An odd man — almost a recluse — his home is like a castle. Some twenty-odd miles up the Hudson, it looms among trees on the high west bank.”

Both Cranston and Casper were facing Laustin as he spoke. But Cranston’s gaze went further. Those hawklike optics were noting a mirror on the far side of the room. It showed a corner door. The barrier was moving.

Peering into the study was a pallid face. The Shadow recognized that visage. Claude Jerwyn, knowing that Shirley Laustin had gone to quiz her father concerning the pendant, was spying in hopes of learning more.

“Quite interesting,” observed Casper. “A mansion high above the river. Hampton Uhler must have patterned his home after some of the feudal castles that are so prevalent in Europe.”

“That may have been his idea,” admitted Laustin. “Theswick is an isolated town. The railroad station is fully three miles from Uhler’s home. His estate occupies at least a hundred acres — all wooded land.”

“A rather lonely location.”

“Yes. Uhler has three or four servants — all men — who actually guard his place. So he is free from molestation, at least.”

“You purchased various gems from his collection?” questioned Casper.

“Only the pendant,” replied Laustin. “I saw some of the other jewels, however. There was a tiara, studded with diamonds and sapphires. Old Spanish rings — some of them could have dated from the time of Ferdinand and Isabella. The pendant belonged to the one collection. There is no question about its authenticity. In fact, it was the sight of the other items that convinced me that Uhler’s statements must be accurate.”

“I hope — Casper was smiling wanly — “that your friend Uhler has taken proper precautions to protect his wealth.”

“He has.” assured Laustin. “The house contains a strongroom. The jewels are kept in a large safe. The Spanish gems are not the only ones that Uhler owns. They constitute — well let us say — less than a third of his entire collection.

“Very few persons know of Uhler’s wealth. That is why I must make it understood that I am speaking in confidence. It would be impossible, of course, for an ordinary burglar to even reach his strongroom. The house is too well protected. But an armed band of raiders might succeed.”

“Due to the isolation?”

“Yes. When I was there, Uhler took me to the strongroom. He opened the safe. I was apprehensive all the while that we were there. I tried to keep from fancying what might happen if men were stationed in the trees outside the house. They could have taken the light in the strongroom — it is on the lower side of the house, toward the river — as a signal. Raiders — enough of them to overpower Uhler’s servants — could have caught us helpless, with the gems in open view.”

As Laustin ceased speaking, Lamont Cranston’s eyes again noted the mirror. Jerwyn’s face was fading.

The door closed softly.

“GEMS,” remarked Casper, “are fascinating to me. My own collection — though moderate — contains rarities from many lands. I have a ruby purchased from the renegade Rajah of Bancore; a collection of pearls once owned by a South American dictator—”

“Where did you obtain them?” interposed Laustin.

“During my travels,” declared Casper. “I represented other English firms before I joined with Stollwood, Larksbury, Limited. In fact, I may count myself a connoisseur, where precious stones are concerned.”

“Perhaps, remarked Laustin, “you would be interested in purchasing some of Uhler’s Spanish gems.”

“Are others for sale?” inquired Casper, in surprise.

“Yes,” asserted Laustin. “Uhler is willing to dispose of many items. He bought the entire collection, so he tells me, merely to acquire certain pieces that he wanted.”

“Would it be possible for me to see the collection?”

“I can arrange it. I promised Uhler that I would bring Shirley to his home for a weekend visit. You, Mr. Casper, as representative of Stollwood, Larksbury, Limited, are a friend of mine.”

“I am stopping at the Hotel Gardley,” remarked Casper, in a casual tone. “An antiquated hostelry, but a comfortable one. I should be pleased to accompany you, Mr. Laustin, when you visit Hampton Uhler.”

“I shall arrange the trip,” announced Laustin. “I shall communicate with you when I have done so. And you, Cranston — are you interested in gems also?”

“Very much.” A smile showed on the thin lips. “This stone is from my own collection. It is a girasol — I doubt that one could find another fire-opal that would match it in quality.”

Both Laustin and Casper stared at Cranston’s hand stretched before their eyes. They saw a gem of amazing beauty — a stone that shimmered in the light. Its hues were ever-changing in their sparkle. From deep maroon, they turned to royal purple; then to brilliant azure.

“Perhaps I might accompany you to Uhler’s.” Cranston, as he spoke, was watching Casper. The man’s eyes were fascinated by the girasol. “Let me know, Laustin, when you intend to go. You can reach me at my New Jersey home.”

“I shall certainly do so,” responded Laustin.

Cranston’s hand moved away. The conversation took another trend. An hour passed. During that period, the eyes of The Shadow, as they peered from the calm countenance of Lamont Cranston, were keen in their notation of Rodney Casper.

Time and again, the pretended Englishman glanced toward the sparkling girasol. The fascination of the gem continued to hold him.

WHEN Lamont Cranston and Rodney Casper took their leave, Lorenna and her manager had already departed. Most of Shirley’s guests were gone. Cranston left the house while Casper was still talking with Laustin and his daughter.

“The club, Stanley.”

The order came to the chauffeur as Lamont Cranston settled in the cushions of his limousine. Stanley heard it, in the tones of Lamont Cranston. He did not catch the whispered laugh that occurred shortly after the car had turned from Laustin’s driveway.