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hiding place again—what he required was already in his pockets—for days now, in whatever role he had played, he had been prepared for any emergency.

      Jimmie Dale looked at his watch—it was ten minutes after nine—and, reaching up, turned out the light. A minute more and the French window was silently opened and closed again, and Jimmie Dale was once more on the street. Here, walking quickly, but keeping to the less frequented streets, he headed deeper into the East Side. He would have no need of Benson, and Benson without further ado at the expiration of the allotted twenty minutes would obey orders literally and go home. No, he would have no further need of Benson and the car—Jimmie Dale smiled curiously, his mind absorbed now in the immediate problem that confronted him—they worked on a carefully prepared and methodical schedule, these minions of Clarke or Marre, allowing ample time in each successive step in their plans that there might be neither confusion nor mistake in what they did. Well, what was ample time for them, was ample time for him! It was not far from the tenement where the Tocsin had said Klanner lived to Baldy Jack’s—and Klanner was not due at Baldy Jack’s until ten o’clock.

      Under the slouch hat, pulled far down over his eyes, Jimmie Dale’s brows knitted into a frown. It was true then, and his intuition had not been at fault! It was Clarke who had planned the murder and robbery at the bank that afternoon—and Hunchback Joe, Clarke’s familiar, and his accomplices who had carried it out. Yes, it had been clever enough—but difficult enough too! Yet of two alternatives they had chosen the easiest. The document, containing the secret international arrangements for gold shipments into the United States, embracing European commitments, and including transportation details, was always, except when in the banker’s personal possession, carefully locked away in the bank’s vaults. In the daytime then, it was impossible for a stranger to reach those vaults; and at night time to attempt to force the strongest vaults in the City of New York, with their intricate electric-alarm system, was a task from which even Clarke might shrink!

      The Tocsin had made it very clear. The document, or documents, never left the bank’s premises; it never left the bank’s vaults except when in the possession of the bank’s president in the latter’s private office. Clarke had therefore chosen the line of least resistance—the bank president’s office! And that accounted, he, Jimmie Dale, understood now, for the sudden failure of the Tocsin’s plans three nights ago, since it accounted evidently for the sudden disappearance of Hunchback Joe, which had checkmated her on that night and on subsequent nights—for it had taken those three nights to perfect their plans in the bank, and the work there had evidently been done under the personal supervision of Hunchback Joe.

      The plan’s cleverness and cunning lay in its devilish simplicity—it required only long, painstaking and laborious preparation. There were, according to the newspapers, two entrances to the banker’s private office; the customers’ entrance from the main rotunda of the bank, and a rear entrance leading in behind the cages to the working quarters of the staff, which was separated from the general offices by a short, narrow, enclosed passage with a second door at the extreme end. The president’s office, as befitted his position, was richly furnished, and the passage, being in reality but an adjunct to the office itself, had not been overlooked—it was carpeted with a long Persian rug. That portion of the basement directly beneath the president’s office and the passage had been partitioned off into a storeroom for old files and books, and was consequently rarely visited. For the rest, the method was fairly obvious. The storeroom was ceiled in with wood, which, when carefully cut away, could be replaced during the daytime, and so hide all traces of what was going on should any one enter the place. It required, then, simply a certain number of nights’ work—and it had taken three. An opening had been cut through the flooring into the passage, and the surface flooring of the passage over the aperture refitted into place, so that, covered by the rug, there was no indication that anything was wrong.

      The minor details the Tocsin had passed over—but to supply them required but little effort of the imagination. The president customarily devoted a certain amount of time each afternoon to the matter in question, and immediately on his return from lunch always took the papers from the vault and carried them to his private office. It became, then, simply necessary that the man, or men, hiding in the basement should know when the president was alone; but this would hardly be a very difficult matter, for, with nothing but the upper skin of the flooring left, one had only to post himself in the opening and he could hear as well, almost, as though he were in the private office itself. The entrance could then be effected in the security of the little passage; the rear door of the passage would be silently locked against interruption; the door leading into the president’s office, where the president sat with his back to the door, would be silently opened—then a quick leap, soundless on the heavy carpet—the blow of a blackjack—the limp body caught and lowered to the floor—the documents secured—the escape.

      The escape! Jimmie Dale had turned suddenly into a pitch-black areaway, and, cautiously now, was making his way to the rear of a three-story tenement of the poorer class. The escape had naturally been accomplished in exactly the same way—the rear door unlocked again to obviate any immediate attention being paid to the passage—the murderer lowering himself through the aperture, and, as he replaced the flooring, manipulating the rug so that it would drop innocently back into place—and the exit from the basement would of course already have been provided for. Jimmie Dale’s face was hard. The newspapers, going to press almost at the moment the murder was discovered, though giving a general description of the bank’s premises, had had no opportunity to furnish details of the ensuing police investigation; but that the police would eventually discover the hole in the flooring was obvious; that they would also discover it without much delay was equally obvious—and it had been intended that they should. Clarke’s object, acting through Hunchback Joe, had been to provide only for the immediate escape—and after that, with callous deviltry, he proposed to utilise this very means of escape to cover up the tracks of the tools who were doing his work, and, backed with another murder, to put the crime upon another’s shoulders!

      Jimmie Dale had halted now to survey his surroundings, and, his eyes grown accustomed to the darkness, he could make out a door opening on the small yard in which he stood, and to the right of the door an unlighted and closed window. That was Klanner’s window. He did not know Klanner, the bank’s janitor—except that he knew him as an innocent man, as the proposed victim of as foul and black and pitiless a conspiracy as had ever been hatched in a human brain! Nor did he know Hunchback Joe—save by reputation. The man was a comparative newcomer in the underworld. He had bought out a small ship-chandler’s business, a rickety, out-at-the-heels place on an equally rickety old wharf on the East River; and it was generally understood that he was a “fence” of a sort, making a speciality of, and catering to, a certain extensive and vicious class of thieves, the wharf rats, who infested the city’s shipping—his ostensible business of a ship-chandler enabling him to handle and dispose of that class of stolen property with comparative immunity.

      Jimmie Dale was crouching at the door, a little steel picklock in his fingers. It was fairly evident now that the underworld in general had but an extremely superficial acquaintance with Hunchback Joe; that Hunchback Joe’s minor depredations against the law were but a cloak to—the mental soliloquy ended abruptly. Jimmie Dale drew suddenly back from the door, and, retreating along the wall of the building, crouched down in the darkness beneath the window. What was that? It came again——a step, stealthy, cautious, from the areaway—and now another step—there were two men there.

      The picklock was back in his pocket, and, in its place, his fingers closed around the stock of his automatic. A shadow showed around the corner of the building, a queer, twisted, misshapen shadow—it was followed by another. Jimmie Dale drew in his breath softly. Hunchback Joe! He had rather expected that the man would already have come and gone, that this initial act of the brutal drama staged for the night’s work would already have been performed. Well, it did not matter! There was still time—time to wait while Hunchback Joe did his work here, time in turn to do his own and still reach Baldy Jack’s before ten o’clock.

      From somewhere in the distance came the roar and rattle of an elevated train; from a neighbouring tenement came the strains of a wheezy phonograph. The figures were at the rear door of the tenement now. A minute passed;

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