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“So Bugs laid for him in his office. He woulda got him there, but some other guy waded in and knocked Bugs cold.”

“Very unfortunate,” commented Palermo. His voice carried a tone of sarcasm and disgust.

“Not as bad as it mighta been,” was the retort. “Jerry Marcus got the works that night he had Burke in the taxicab. Guess it was the same guy that poked Bugs Lakey in the jaw—”

“That’s immaterial, Macklin,” said Palermo. “The point is this. I’ve paid you pretty well, haven’t I?”

“Yeah.”

“Even when I had to go out of my way to get the money,” added Palermo smoothly. “All I have asked is that you provide good men, who could do the jobs assigned them. Only in one instance have I ordered you to do a job yourself.”

“I did it, didn’t I?” retorted Macklin. “Nobody ever wised up that Harriman wasn’t a suicide. I didn’t get that jewel you wanted. Harriman didn’t have it on him.

“You figured that maybe he had given it to that guy Horace Chatham, and I had a couple of men trailing Chatham, until he bumped off Wilkinson and disappeared.”

“Quite right,” agreed Palermo. “We have dropped Chatham, now. He didn’t have the purple sapphire. I believe I know where it is at present, and I can acquire it myself.

“No, Macklin, I have no fault to find with your work until recently. But this double failure in the simple matter of eliminating a newspaperman — namely Clyde Burke — may prove to be serious. In fact, it is hampering some of my most important plans.”

“Why?” Macklin’s voice was challenging. “Whadda you care about a guy like Burke? He ain’t got anything on you, has he?”

“Nothing of consequence.”

“Why all the fuss then?”

“Macklin,” said Palermo suavely, “you have one failing. You cannot see beyond facts that are extremely obvious. You realize, of course, that Burke has escaped through the aid of a friend, or protector. Yet you have no idea who his protector may be.”

“Yeah,” admitted Macklin, “you’re right there, Doc. Maybe I have got a one-track mind. I told the boys to get Burke. I didn’t think much about this other guy. If he—”

“If he were out of the way,” put in Palermo, as Macklin hesitated, “it would be easy to get Burke, wouldn’t it?”

“Yeah. I hadn’t thought of it until now.”

“All right. Put him out of the way.”

“That would be easy,” laughed Macklin, “if I knew who he was. But right now I ain’t—”

“You’d like to know who he is, wouldn’t you?”

“Yeah.”

“I’ll tell you who he is,” said Palermo, in a low, subtle voice that made Macklin stare. “I’ll tell you who he is. They call him”— the speaker paused impressively—”The Shadow!”

“The Shadow!” Macklin’s eyes were wide.

“The Shadow,” repeated Palermo impressively. “Have you ever heard of him?”

“Gunner” Macklin was on his feet, walking nervously up and down the room.

“You’re sure of that, Doc?” he questioned, in a whining voice. “You ain’t kiddin’ me, are you?”

“Certainly not,” replied Palermo coldly.

“The Shadow!” whispered Macklin. “I can’t believe it, Doc! What a guy he is! There ain’t no gunman that could ever get him! I never figured I’d be up against The Shadow!

“Tell me, Doc”—the voice was pleading—”are you sure about this? Tell me — have you ever seen — seen — The Shadow?”

“Yes. In this apartment!”

MACKLIN stared about him as though he expected some black monster to rise from the wall and overwhelm him. Then his eyes sought Palermo’s face, and Macklin winced as he saw the expression of disdain upon the physician’s lips.

Palermo clapped his hands. Hassan appeared, carrying two glasses of liquor on a tray.

“Only one, Hassan,” said Palermo calmly. “Let Mr. Macklin have it. He needs it.

“The Shadow proved to be a rather clever person,” added Palermo, after Macklin had gulped his drink.

“In fact, he thought he had me trapped. I was forced to employ one of my best illusions. I disappeared in smoke.”

“You — what?” Macklin was incredulous.

“I vanished,” said Palermo calmly. “When next The Shadow saw me, he was at my mercy.

“Until then, he had been rather stupid. He suddenly showed signs of cleverness. Before I had chosen to blot him from existence, he managed to escape.”

“Whew!” exclaimed Macklin. Palermo’s description was too deep for him to understand, yet he accepted it. “Have you seen him since?”

“No.” There was a tone of disappointment in Palermo’s voice. “That is why I called you in, tonight. I want you to find him.”

“Find The Shadow!” blurted Macklin. “I wouldn’t go after that guy for all the money in the mint. He ain’t human! Nobody even knows what he looks like, and those that have tried to find out ain’t around to tell their story.”

“I have paid you well to remain in my employ,” Palermo said. “But suit yourself. Either our arrangement is at an end, and you may count yourself out on all future profits — or — find The Shadow!”

Macklin shook his head. “I know what that guy can do. There ain’t enough money in it. Don’t talk price. I won’t listen.”

“I might mention,” resumed Doctor Palermo, “that The Shadow is concerned with the past as well as the future. He is particularly anxious to reveal my former activities, and those of any who have been associated with me.

“It is not a question of money, Macklin. It is a matter of self-protection for me — and for you.”

The last phrase was emphatic. “Gunner” Macklin turned pale and swayed slightly in his chair. He rubbed his forehead and found cold perspiration there.

“FURTHERMORE,” the physician continued, in purring tones, “The Shadow has no reason to believe that I will cease my activities on his account. He is watching for our next move — our move, Macklin, not mine alone.

“If we fail to move, he will force the issue. We are menaced, and I may state positively that you are the one who faces the first danger. If you decide to abandon me, you will place yourself in a hopeless position.”

Gunner Macklin mopped his brow with a huge silk handkerchief. He was convinced that Doctor Palermo spoke the truth. His face became piteous as he gasped and looked toward the physician.

“I see that you understand now,” said Palermo. “Therefore I shall tell you how to act. Have you a good safecracker you can trust?”

“Yeah. Louie Seligman. He’s been layin’ low. The cops don’t know he’s in town.”

“Good. Tonight, send him to the home of Raymond Hoetzel. The address is on this paper.

“Hoetzel’s home is an old house, wonderfully protected by burglar alarms. But Hoetzel, a patient of mine, told me about the system that protects the place; and later I discovered its weaknesses. This envelope contains all the instructions that Seligman will need.

“Send four gunmen with him to watch the place. Let them be on guard while Seligman cracks the safe. Be sure that they watch outside.

“Give them orders to shoot any one who tries to interfere. But do not tell them that they may be disturbed by The Shadow!”

“Right,” replied Macklin. “Say, Doc, I’ve got a couple of Chicago gunmen who just blew into town.

Looking for some real dough. How about it? Shall I put them on this?”

“Where did you meet them?” asked Palermo cautiously.

“They brought letters from Frank Margio,” explained Gunner Macklin. “Chicago was too hot for them.