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entered, and in French commanded them to take O’Grady outside, bandage the wound, and bind his wrists and ankles again.

      It was done; when we were alone again, Schneider looked at me and grinned.

      “Are you going to try the same trick, Breck?”

      I shook my head. “No. I’m too sane.”

      “Word of honor?”

      I nodded. Schneider put up his pistol, lighted a cigarette, and handed me one, which I accepted gratefully enough.

      “You observe,” he said, “that I am determined not to be beaten. You and I are now going to come to terms, mon gars! We have all had a, pleasant journey with much incident to enliven it. Now that the cards are all played, you will observe that I have kept my aces for the last.”

      He was right enough about that, although it was due to O’Grady that he had won.

      “Where are the Frenches?” I asked him.

      “Under guard,” he replied coolly. “French tells me he’s already given you the formula for the lacquer. Refuses to sell to me. That right?”

      I nodded. He knocked the ash from his cigarette and got up.

      “Five minutes to think it over,” he announced. “Give it to me. Your friend Kohler can make all of the stuff he wants—so long as we make it too. Dubonnet & Cie. are not going to be left out in the cold, Mr. Breck, I can assure you!

      “Give me the formula, then you and O’Grady can each take a mule and go; not back to the river, but on into the hills. You’ll come out sometime. Refuse, and I’ll tell my men to bring Miss French in here and exert a little persuasion on her—until you yield. So you might as well save her the unpleasant experience. Think it over.”

      I half started up, when his pistol swung viciously at me, and I relaxed.

      “You damned blackguard!” I said. “You’d not dare to do such a thing!”

      He laughed at me. Like most of these sleek, swarthy Latins, he had a strain of cold cruelty close to the surface. As I met his gaze, I knew that he would keep his word to the letter. He knew that I knew it, too, for without answering me, he strode out of the room.

      Those five minutes were all to short for their agonized suspense. I knew that Kohler wanted a monopoly on this product, just as he was getting a monopoly on the output of lac itself. If I gave up the secret, the chances were even that Schneider would kill me anyhow, to insure himself a monopoly; but he would also leave Kiuling instantly and strike for the coast.

      If I refused, the devil would keep his word and torture Janet French, shame her. Even if I still resisted, he would try the same trick on her brother, who would doubtless give in. A noble rectitude to my employer would gain the girl nothing, and would only cause her untold suffering.

      When Schneider returned, I rose to my feet, my mind resolved.

      “Well?” he demanded smoothly.

      “You win,” I said quietly. I did not add that I intended, if I got away, to circle around and try to catch him before he reached the river. “If I give you the formula, what assurance have I that you’ll keep your word?”

      His eyes narrowed on me.

      “None, Breck, none. Come outside. You’ll have a mule and a rifle, with cartridges in your pocket. Give me the formula. I’ll read it over to French; I’ll know quick enough if it’s right or not! If it is, you can go, and O’Grady with you. I’ll tell French just why you gave it to me, and he’ll find it to his best interest to tell the truth.”

      “Agreed,” I said.

      He gestured and I followed him out into the sunlight of the courtyard. We walked toward the hou-feng, or rear building, which was used as a stable. Here were a number of mules, with the bound O’Grady sitting in one saddle and guarded by a Chinese. O’Grady had quite recovered his senses, and greeted me with a wry smile as we approached.

      Schneider gave a curt order. Another of his men appeared. An empty rifle was given me and some cartridges were put into my pocket. Then, with the two Chinese holding their guns upon me, lest I try to load and use the rifle in my hand, Schneider held out a pencil and paper to me.

      “What’s up?” asked O’Grady.

      “Schneider wins,” I said curtly. “He’s just brute enough to torture a woman, and the game isn’t worth the candle.”

      O’Grady cursed Schneider viciously, but had only a mocking laugh for response, I wrote out the formula and handed it to Schneider; he took it with triumph glittering in his eyes.

      “Back in a minute,” he said, and crossed the courtyard to the main building where French lay.

      He was as good as his word. In less than a minute he reappeared, laughing, and waved his hand.

      “All right,” he sang out. “Climb into the saddle, Breck, and be on your way.”

      I obeyed, heart-heavy.

      IX

      Even as I clambered into the saddle, however, there came from the stables a voice that made me pause, the voice of Yu.

      “Wait a minute, master! Wait a minute!”

      I glanced around, but saw nothing of the boy. Schneider, at the words, came striding across the courtyard.

      “Who’s that?” he demanded, hand at his gun.

      “My boy Yu,” I responded. “He must have been asleep.”

      “Here I am,” said Yu’s voice.

      I looked around again at the door of the rear building, and sat petrified, staring in astonishment. Schneider’s mouth opened, stark amazement seizing him, and a terrible light of recognition blazing in his dark eyes.

      From the doorway came, not Yu, but James Sze Kohler, smiling and fingering a cigar.

      “Hello, Schneider!” he said casually. “Have you had a good time? It’s a pity that you prevailed on Breck to hand you over that formula; otherwise, you might have gone free. How’ve you been since we last met?”

      Schneider recovered from his stupefaction. He snapped an order at his two men; then, as their rifles lifted, those rifles were suddenly trained upon Schneider himself. Kohler uttered a low laugh.

      “No use, Schneider, no use at all! These are my men, you know.”

      “Kohler!” I exclaimed. “How in the name of all that’s holy did you get here?”

      Kohler glanced at me and chuckled softly.

      “My dear chap, I came all the way with you! Didn’t I make a presentable coolie, with the beard and all? Now, master, everything is ready, and we can start if you like.”

      It was the voice of Yu that issued from Kohler’s throat. He chuckled again at my look.

      “You see, Breck, I needed to be shielded and forgotten; and everything worked out very well. By the way, just how did Mr. Schneider propose to torture a woman?”

      Schneider stood there with sweat streaming out on his oily face. He knew now how he had been trapped; he perceived that his men were really Kohler’s men; and I think that in Kohler’s glance he read no mercy at all.

      At all events, before I had started to speak, a curse fell from his lips. Regardless of the two Chinese, his hand leaped to his pistol. As he jerked it forth, the rifles cracked pitilessly. Schneider spun around and fell in a heap.

      There was a moment of silence.

      “Just as well,” said Kohler quietly. “Just as well. Better, perhaps, this way—since he knew the formula.”

      “Good heavens, Kohler!” I exclaimed. “You wouldn’t have murdered him merely because he had learned that secret?”

      Kohler’s

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