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"But I don't intend to buy!" Meriden pounded the desk with his pudgy fist.

"I told you that in my letter. Your chain of service stations exists only on paper. It is worth nothing to us!"

Pinkey leaned back in his chair; he tucked his thumbs in the arm holes of his vest, as he turned his head toward Slick, with the comment.

"You talk to him, Quaine."

SLICK produced an envelope from his pocket. He drew out some clippings, slid them across to Meriden. They were old newspaper accounts relating the exploits of Detective William Quaine, ace of the racket investigation squad.

Quaine's photograph was printed also; and - as Slick had often privately expressed it - the picture might as well have been Slick's own. Though he and Quaine might have been distinguished if together, separately, either could pass

for the other.

It happened, too, that they had never made the test of meeting face to face. If there was one man that Slick dodged consistently, that fellow was Bill

Quaine.

Meriden took it for granted that Slick was Quaine; but he couldn't see any

connection between that fact and the proposed purchase of the Interstate Service

Stations.

The treasurer of Eastern Refineries was soon to be enlightened. Pinkey Findlen observed that Meriden had fallen for the first step in the game.

Pinkey

spoke to Slick Thurley:

"Show Mr. Meriden those other clippings, Quaine."

"Certainly, J. B.," returned Slick, in a brisk tone that suited his false part. "Look these over, Meriden. They tell about a crook called the Masked Playboy."

Meriden was nodding as he eyed the recent clippings. Still, he couldn't understand the link, until Pinkey opened a large envelope and shoved two photographs across the desk.

They were the pictures snapped the night before, during the phony crime at

the office of the Nu-Way Loan Company. The first that Meriden saw was the picture wherein the Playboy was masked. He laid that photo aside; looked at the

one below it. He saw a pale strained face with worried eyes. He recognized those

features.

Martin Meriden sank deep in his chair. His lips took on a fishlike gape.

"Reggie!" gasped Meriden. "My - my own son Reggie! And I - I thought he had -"

"You thought he'd been behaving himself," sneered Pinkey. "But he hadn't!

You gave him cash for a trip to Europe, but you didn't know he blew it and had to make it up, somehow."

"But Reggie is sailing - at noon - today -"

"You mean he will be sailing, if you come through with the deal on those service stations."

A new expression showed in Meridian's eyes. His tone was indignant when he

uttered:

"This is blackmail!"

"That's what they call it," agreed Pinkey, "Or a shakedown. It's all the same in this case. You come through, Meriden, or the kid does a stretch in Sing

Sing!"

MERIDEN'S hands were fidgeting on the desk. Pinky liked the sign. He'd seen others act that way before. Pinkey's rasp became less noticeable. He was trying smooth encouragements.

"You're not the first guy," he said to Meriden. "Others were up against the same proposition. They came through. Quaine, here, will tell you it's the easiest way."

Meriden looked toward Slick; he saw the fake detective reach for the incriminating photographs. From now on, apparently, the pretended Bill Quaine was to keep the evidence.

"So you've turned crook," accused Meriden. "That means you're not to be trusted, Quaine, any more than this man" - Meriden thumbed toward Pinkey -

"who

appears to be your boss."

Slick's only reply was a sarcastic smile.

"How do I know that you won't blackmail me further?" demanded Meriden, hoarsely. "This could go on and on -"

"Only it won't" interposed Slick. "You and I are in the same boat, Meriden. You've got to cover up on this deal that you make with J. B. here.

I've got to cover up that I was in on it. One shakedown to one guy is all we can chance."

Slick looked to Pinkey for corroboration. The big-shot gave a nod.

"That's the way it stands," assured Pinkey. "But if you don't come through, Meriden, Quaine will turn in these pictures to headquarters and make himself a hero again.

"He'll be the guy who outsmarted the Masked Playboy, by figuring where he was due and placing a camera there. Quaine will identify your son Reggie and he'll also deny that he tried this shakedown."

Meriden saw the logic. He knew that the false Quaine could explain this visit by saying that he came to ask questions regarding Reggie's identity. As for Pinkey, he would back anything that the false Quaine said. Believing Slick to be a real detective and Pinkey to be a bona fide businessman named J. B.

Corston, Meriden could find no loophole. He looked dazed; but he managed to gather his wits and ask one important question.

"What about my son?" queried Meriden, "Where is he?"

On the boat," returned Pinkey, "Getting some sleep after a bad night. The bulls nearly nabbed him, after that job. Why don't you call him, Meriden?

They've got a telephone service to that ship. Make sure that he's all right."

MERIDEN made the call. He controlled his tone while he talked to his sleepy-voiced son, and made no remarks that Reggie could have interpreted as knowledge of last night's episode. From that conversation Meriden convinced himself that Reggie was not in the clutch of crooks.

"Satisfied?" queried Pinkey, when the call was ended. "You ought to be.

Why should we be worried? We don't have to keep our mitts on the kid. That packet doesn't sail till noon. Bill Quaine, here, has still got two hours to show up with a squad and yank Reggie off the boat."

Meriden nodded. His lips were firmly pressed. Pinkey produced an agreement

of sale, laid it on the desk.

"The price for Interstate Service Stations," he announced, "is two hundred

and fifty grand."

"You mean" - Meriden was amazed - "a quarter million?"

"Why not?" returned Pinkey. "Your company has got plenty of dough. You can

make this look like a swell buy! Use the phony reports that I sent you."

Meriden winced; mechanically, he reached for his pen. He applied his signature to the agreement. Pinky reminded him that a check would be in order.

Meriden wrote one for fifty thousand dollars, stating that he would have to make the payments in installments.

"Write out the rest of them," ordered Pinkey. "Date them ahead, a month apart. We know you won't welsh on them. We've got the goods on you, now, Meriden, along with your son Reggie."

Meriden made out the remaining checks; he passed them weakly across the desk. Pinkey arose, beckoned to Slick. Together, the crooks went out toward the

elevators. At the information desk, Pinkey spoke to the girl.

"Better look in on the boss, sister," remarked Pinkey. "He wasn't feeling so good when we left him. Maybe he's feeling sort of sick!"

Slick was waiting at the opened door of an elevator. Pinkey stepped in with him. As the door clanged shut, the girl at the desk heard the finish of two ugly chuckles that came from the lips of Meriden's visitors.

Two crooks were mutually agreed on the proposition that crime, when properly framed, could pay in plenty.

CHAPTER V

LINKS TO CRIME

IN all the reports of the Masked Playboy's final crime, there was no inkling of the real purpose. The public, like the law, assumed that the tuxedoed criminal had merely led his crew in another profitless expedition -

this time with such bad results that the Playboy might well be tired of his crooked business.

One badly wounded thug had tried to slow the police, and had received more