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After rolling slowly along the darkened rear street, Moe knew that his passenger was gone. Moe circled the block and parked in a convenient spot, to await The Shadow's return.

The cab was still there when Madden Henshew arrived home at ten minutes of nine, thanks to the fast schedule of the express from Philadelphia and a quick cab trip from Pennsylvania Station. Something unforeseen had delayed The Shadow in Henshew's apartment.

Moreover, for once, The Shadow was seemingly unwary. When Henshew unlocked the apartment door, he saw a flicker of light that repeated itself in the corner by the bookcase. It was the gleam of The Shadow's tiny flashlight.

Apparently, the intruder had not heard Henshew unlock the door; otherwise the light would not have glimmered twice. Softly, Henshew closed the door and sneaked through the outside hall. For once, the baldish crook had lost his confidence. He was feverish in his haste.

Henshew managed to fake an unruffled appearance when he went downstairs in the elevator. He spoke calmly to the doorman, when he said:

"I forgot a package at the station. If any one calls while I am out, tell them to wait."

Reaching a store on the corner, Henshew was excited again. His fingers shook as he dialed a number. He was taking a long shot that he had reserved only in case of extreme emergency. He was making a direct telephone call to Shark's hide-out.

Shark's voice answered with disguised gruffness. With whispered pant, Henshew spoke his own name from the telephone booth. Shark asked the trouble.

"Some one in the apartment!" wheezed Henshew. "I don't know who it is - only I saw him searching there!"

"You saw him, huh?"

"I saw a light that he was using -"

"Then it wasn't The Shadow." Shark's growl was a confident one. "Whatta you want me to do? Take care of it the way we arranged?"

"If there's still time -"

"Don't worry. There will be. I'll handle the lug!"

Shark hung up abruptly. Henshew came sweating from the booth and started toward the street. He remembered that he had mentioned a package to the doorman. So he made some purchases in the drug store and had them wrapped in a large bundle.

OUTSIDE, Henshew walked nervously around the block. He knew that Shark would arrive very soon, for the killer had shifted to a new hide-out. It was in a disreputable district that encroached upon big apartment houses quite close to Henshew's residence.

Henshew had not liked Shark's choice of a new hiding place; but his opinion had changed tonight. He knew, too, that Shark always kept a crew of triggermen close enough to be summoned without delay. By the time that Henshew had circled the block, he guessed that Shark was due.

Lugging his package, Henshew hurried along another block; saw a cab and boarded it. He rode to the apartment house, only a twenty-cent fare; but he handed the taxi driver a half dollar and told him to keep the change.

The doorman saw that Henshew's package was fairly heavy, so he offered to take it.

That suited Henshew. Fishing for his apartment key, he asked the doorman to carry the package upstairs.

As they walked toward the elevator, Henshew saw that it was ten minutes after nine. The time suited him exactly.

Again, the master-crook's face was calm. He was ready for another of his daring games, one that he had long ago arranged in every detail, even though he had never expected to use it. This game would bring an alibi, the sort that would help. Henshew was almost glad that a prowler had entered his apartment.

There was another little matter that this episode might settle; one that had rankled Henshew ever since the afternoon, when Chanbury had called to offer cash instead of uncut diamonds. That new suggestion regarding the jewel purchase had made Henshew uncertain about how to manage the sale.

Matters would be different after the next half hour, decided Henshew; and he was right. Matters were to be far different, for both Madden Henshew and his murderous accomplice, Shark Meglo.

The present trap was like a spider web, set to enmesh a helpless fly. That web had gathered in a stinging hornet in the person of The Shadow.

CHAPTER XVII. VANISHED SPOILS

SHARK MEGLO and his henchmen had reached the upper floor ahead of Henshew. They had come by that rear entrance that led to the stairway, a route unwatched by apartment house attendants, for the back door had a heavy latch. Shark had opened it with a key long ago provided by Henshew.

Shark had keys to the apartment, also. There were two doors - one from the main hallway, the other from a side corridor. The first opened into Henshew's living room; the second into a kitchenette. Shark was using both. He spoke final instructions to his trigger-men, at the spot where the corridors met.

"Get the lug that's in there," ordered Shark. "Bounce a gat off his konk and drag him along. We're taking him on a one-way ride! Whoever grabs the guy is to head out in a hurry. The rest of you heave stuff around the joint.

"Keep wrecking it until Henshew shows up with some of the monkeys that work here. Don't bump any of that bunch. Sock 'em and scram. Got it all straight? Let's go!"

Shark did not specify why he had given such odd instructions; but that did not bother his men. They never guessed that this raid was to polish off an unwanted intruder and cover up for Henshew. Shark's outfit took orders as they received them.

Half a dozen strong, the invaders deployed in two groups entering by living room and kitchenette. They were cautious as they moved, for they wanted to trap their victim unawares. They needed some token to make sure that he was still present, and they saw just what they wanted.

The Shadow's tiny flashlight was blinking along the middle row of books in the living room alcove. It did not show the person who held it. Shark, therefore, was more positive than ever that the intruder could not be The Shadow.

Shark restrained his men with a whisper. This victim would be easy; he was too concentrated on his search to know that enemies were closing in upon him.

The flashlight finally stopped near the end of a row of books. Its glow became fixed, shining at an angle toward the volumes. Shark snapped the word:

"Get him!"

Five thugs surged forward in a fanwise wall closing in upon their prey. All were eager to land the first slugging blow. As the thugs attacked, Shark pressed the light switch. In the glare, Shark saw his men drive up against the writing desk. Raised arms halted; the crowd broke.

No victim lay beneath them. One thug had jarred the writing desk; Shark saw a tiny flashlight topple to the floor. It had been resting there on the desk, to draw the attack; but its elusive owner was gone!

A STRONG laugh challenged from the corner - that same spot where The Shadow had kept from Tyrune's view only a night ago. Shifting in the dark The Shadow had picked that vantage point. His mirth told his identify before eyes could mark him.

Chill mockery, a sardonic laugh that only one living being could hurl, was his token of defiance.

The Shadow!

Attackers were tricked. They knew it. Most duped of the lot was Shark Meglo, the leader who had assured his followers that they would find an easy victim. To Shark's ears, as to others, the source of The Shadow's laugh was indefinable. The mirth seemed to shiver from the very walls of this large room.

It was Shark, however, who first saw The Shadow. Maddened to desperation, the murderer spun viciously, his ugly eyes glittering in their search. Shark saw The Shadow; but not in time to act.

A streak of blackness, The Shadow was looming upon the killer, driving with terrific speed. Launched straight for the murderer, the cloaked avenger was bringing a gun muzzle to bear.

Had Shark tried to beat The Shadow to that shot, his attempt would have been suicide. In one stroke, The Shadow could end all battle; for Shark's crew would weaken with their leader's fall.