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distinctly as though he were at the table beside the two men—and at the first words, the loose, disjointed frame of Larry the Bat seemed to tauten curiously and strain forward lithe and tense.

      "This Gray Seal dope listens good, Whitey; but, coming from you, I'm leery. You've got to show me."

      "Don't you want him?" There was a nasty laugh from Whitey Mack.

      "You BET I want him!" returned the headquarters man with a suppressed savagery that left no doubt as to his earnestness. "I want him fast enough, but—"

      "Then, blast him, so do I!" Whitey Mack rapped out with a vicious snarl. "So does every guy in the fleet down here. We got it in for him. You get that, don't you? He's got Stangeist and his gang steered for the electric chair now; he put a crimp in the Weasel the other night—get that? He's like a blasted wizard with what he knows. And who'll he deal the icy mitt to next? Me—damn him—me, for all I know!"

      "That's all right," observed Lannigan coolly. "I'm not questioning your sincerity for a minute; I know all about that; but that doesn't land the Gray Seal. I'll work with you if you've anything to offer, but we've had enough 'tips' and 'information' handed us at headquarters in the last few years to make us a trifle skeptical. Show me what you've got, Whitey?"

      "Show you!" echoed Whitey Mack passionately. "Sure, I'll show you! That's what I'm going to do—show you. I'll show you the Gray Seal! I ain't handing you any tips. I'VE FOUND OUT WHO THE GRAY SEAL IS!"

      There was a tense silence. It seemed to Jimmie Dale as though cold fingers were clutching at his heart, stifling its beat—then the blood came bursting to his forehead. He could not see into the room, but that silence was eloquent. It seemed as though he could picture the two men—Lannigan leaning suddenly forward—Lannigan and Whitey Mack staring tensely into each other's eyes.

      "You—WHAT!" It came low and grim from Lannigan.

      "That's what!" asserted Whitey Mack bluntly. "You heard me! That's what I said! I know who the Gray Seal is—and I'm the only guy that's wise to him. Am I letting you in right?"

      "You're sure?" demanded Lannigan hoarsely. "You're sure? Who is he, then?"

      There was a half laugh, half snarl from Whitey Mack.

      "Oh, no, you don't!" he growled. "Nix on that! What do you take me for—a fool? You beat it out of here and round him up—eh—while I suck my thumbs? Say, forget it! Do you think I'm doing this because I love you? Why, blame you, you've been aching for a year to put the bracelets on me yourself! Say, wake up! I'm in on this myself."

      Again that silence. Then Lannigan spoke slowly, in a puzzled way.

      "I don't get you, Whitey," he said. "What do you mean?" Then, a little sharply: "You're quite right; you've got some reputation yourself, and you're badly 'wanted' if we could get the 'goods' on you. If you're trying to plant something, look out for yourself, or—"

      "Can that!" snapped Whitey Mack threateningly. "Can that sort of spiel right now—or quit! I ain't telling you his name—yet. BUT I'LL TAKE YOU TO HIM TO-NIGHT—and you and me nabs him together. Is that straight enough goods for you?"

      "Don't get sore," said Lannigan, more pacifically. "Yes, if you'll do that it's good enough for any man. But lay your cards on the table face up, Whitey—I want to see what you opened the pot on."

      "You've seen 'em," Whitey Mack answered ungraciously. "I've told you already. The Gray Seal goes out for keeps—curse him for a snitch! If I bumped him off, or wised up any of the guys to it, and we was caught, we'd get the juice for it even if it was the Gray Seal, wouldn't we? Well, what's the use! If one of you dicks get him, he gets bumped off just the same, only regular, up in the wire parlour at Sing Sing. I ain't looking for that kind of trouble when I can duck it. See?"

      "Sure," said Lannigan.

      "Besides, and moreover," continued Whitey Mack, "there's SOME reward hung out for him that I'm figuring to born in on. I'd swipe it all myself, don't you make any mistake about that, and you'd never get a look-in, only, sore as the mob is on the Gray Seal, it ain't healthy for any guy around these parts to get the reputation of being a snitch, no matter who he snitches on. Bump him off—sure! Snitching—well, you get the idea, eh? I'm ducking that too. Get me?"

      "I get you," said Lannigan, with a short, pleased laugh.

      "Well, then," announced Whitey Mack, "here's my proposition, and it's my turn to hand out the 'look-out-for-your-self' dope. I'm busting the game wide open for you to play, but you throw me down, and"—his voice sank into a sullen snarl again—"you can take it from me, I'll get you for it!"

      "All right," responded Lannigan soberly. "Let's hear it. If I agree to it, I'll stick to it."

      "I believe you," said Whitey Mack curtly. "That's why I picked you out for the medal they'll pin on you for this. And here's getting down to tacks! I'll lead you to the Gray Seal to-night and help you nab him and stay with you to the finish, but there's to be nobody but you and me on the job. When it's done I fade away, and nobody's to know I snitched, and no questions asked as to how I found out about the Gray Seal. I ain't looking for any of the glory—you can fix that up to suit yourself. The cash is different—you come across with half the reward the day they pay it."

      "You'll get it!" There was savage elation in Lannigan's voice, the emphatic smash of a fist on the table. "You're on, Whitey. And if we get the Gray Seal to-night, I'll do better by you than that."

      "We'll get him!" said Whitey Mack, with a vicious oath. "And—"

      Jimmie Dale crouched suddenly low down, close against the wall. The crunch of a footstep sounded from the end of the lane. Some one had turned in from the cross street, some fifty yards away, and was heading evidently for the back entrance to Bristol Bob's. Jimmie Dale edged noiselessly, cautiously back past the doorway, kept on, pressed close against the wall, and finally paused. He had not been seen. The back door of Bristol Bob's opened and closed. The man had gone in.

      For a moment Jimmie Dale stood hesitant. There was a wild surging in his brain, something like a myriad batteries of trip hammers seemed to be pounding at his temples. Then, almost blindly, he kept on down the lane in the same direction in which he had started to retreat—as well one cross street as another.

      He turned into the cross street, went along it—and presently emerged into the full tide of the Bowery. It was garishly lighted; people swarmed about him. Subconsciously, there were crowded sidewalks; subconsciously, he was on the Bowery—that was all.

      Ruin, disaster, peril faced him—faced him, and staggered him with the suddenness of the shock. Was it true? No; it could not be true! It was a bluff—Whitey Mack was bluffing. Jimmie Dale's lips grew thin in a mirthless smile as he shook his head. Neither Whitey Mack nor any other man would dare to bluff like that. It was too straight, too open-handed, Whitey Mack had laid his cards too plainly on the table. Whitey Mack's words rang in his ears: "I'll LEAD you to the Gray Seal to-night and help you nab him and stay with you to the finish." The man meant what he said, meant what he said, too, about the "finish" of the Gray Seal; not a man in the Bad Lands but meant—death to the Gray Seal! But how, by what means, when, where had Whitey Mack got his information? "I'm the only one that's wise," Whitey Mack had said. It seemed impossible. It WAS impossible! Whitey Mack was sincere enough probably in what he had said, but the man simply could not know. Whitey Mack could only have spotted some one that, for some reason or other, he IMAGINED was the Gray Seal. That was it—must be it! Whitey Mack had made a mistake. What clew could he have obtained to—

      Over the unwashed face of Larry the Bat a gray pallor spread slowly. His fingers were plucking at the frayed edge of his inside vest pocket. The dark eyes seemed to turn coal-black. A laugh, like the laugh of one damned, rose to his lips, and was choked back. It was gone! GONE! That thin metal case, like a cigarette case, that, between the little sheets of oil paper, held those diamond-shaped, gray-coloured, adhesive seals, the insignia of the Gray Seal—was gone! Clew! It seemed as though there were an overpowering nausea upon him. CLEW! That little case was not a clew—it was a death warrant!

      His hands clenched fiercely. If he could only

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