What was needed was a course that would curb the master villain; hold him in abeyance; force him, finally, to commit a blunder that would end the evil game. Picturing the position of Major Rowden; considering past events as well as future, The Shadow could see the formidable strength that some supercrook had gained.

There was, however, a rift that changed these circumstances. The Shadow’s own advent had paved the way to counterstrokes. The course was to match the moves of Malfort, that superfoe whose name at last was known to The Shadow.

A whispered laugh from smiling lips. The Shadow’s mirth seemed doubly strange, uttered in his present character of Henry Arnaud. Rowden looked up, awed by the tone. Keen hope showed upon the major’s square-jawed face.

From The Shadow’s laugh, the man from Shanghai had guessed the truth. He was to learn a plan that would offset the evil ingenuity of Kenneth Malfort.

CHAPTER VIII – THE SHADOW’S PLAN

“TWO men have died.”

The Shadow pronounced the statement solemnly. Major Rowden nodded; his face showed the regret that he felt concerning the deaths of Blessingdale and Hessup.

“Two others are potential victims,” added The Shadow. “Ready for Malfort’s clutch. Our enemy may already doubt that I was George Furbish. He expects no trouble from the real Furbish; nor from Lamport.”

“Agreed,” nodded Rowden. “They will prove as helpless as Blessingdale and Hessup.”

“We hold a certain advantage,” remarked The Shadow, continuing his role of Arnaud. “Malfort does not know that Furbish is coming from Bermuda. He will not strike at Lamport until the latter has funds in hand and brings them to New York. Meanwhile, I can warn both Furbish and Lamport.”

Rowden’s eyes lighted. He realized that if The Shadow could depart as secretly as he arrived, such warnings would be possible.

“I shall keep Furbish in readiness,” decided The Shadow. “Malfort cannot possibly know where he is; if he had, Ku-Nuan would not have attacked me last night. When the time comes, I shall instruct Furbish to visit this penthouse; to buy the jewels that he wants and to carry them when he departs.”

Rowden gasped. For the moment, he believed that The Shadow must have misunderstood his previous statements regarding the constant danger that enshrouded the penthouse. He realized, at last, that The Shadow was serious.

New words partially overcame Rowden’s bewilderment.

“A visit by Furbish,” stated The Shadow, “will damage Malfort’s confidence. It will show him that his schemes are not flawless. It will cause him either to become too cautious; or to seek hasty action. Either will prove to our advantage.”

Rowden was impressed by The Shadow’s conclusion. He wondered, however, what sort of stratagem would make it possible for Furbish to come and go unmolested. Rowden decided to leave that to The Shadow. After all, The Shadow had managed to reach the beleaguered penthouse; he might be able to bring Furbish here.

“As for Lamport,” continued The Shadow, “I shall warn him not to come to New York at all. That will end Malfort’s plot against him. It will mean, however, that when Furbish has gone, Malfort will concentrate upon you.”

Major Rowden nodded. He foresaw that danger; he was ready to encounter it. Just as he was about to make a statement, The Shadow stopped him with a question.

“You spoke of a fifth man,” reminded The Shadow, “one who you said was in no danger. Who is he; and why is he safe?”

FOR a moment, Major Rowden hesitated before giving a reply. His face showed a passing flicker of doubt. His lips pursed as if desirous of withholding words. At last, Rowden overcame his qualms.

“The fifth man,” he confided, “lives here in New York. His name is Tobias Helmedge. He is an old man, a miser who holds hoarded wealth. His name is not listed in the city directory; he has no telephone in his house. Once, years ago, Helmedge purchased bonds issued by the Chinese government.

“We learned Helmedge’s address through reference to an old, forgotten file. Because of his suspicious nature, we communicated with him separately. I wrote Helmedge personally; I told him that I would communicate with him privately after I reached New York. He will not visit this penthouse until he hears from me.

“I am confident that Malfort knows nothing about Helmedge. In brief, Malfort thinks that there are only four purchasers involved; not five. He has murdered Blessingdale and Hessup; he will seek the lives of Furbish and Lamport. After that, I shall become his quarry.

“If Malfort’s menace can be removed, I shall be free to correspond with Helmedge. That is why I state that Helmedge is safe.”

Rowden’s words were logical. Nevertheless, The Shadow’s eyes remained fixed upon the major. Rowden sensed another query. He grasped The Shadow’s thought. From his pocket, Rowden produced a small card and a pencil. He wrote a few words; passed the card to The Shadow. Quietly, Rowden stated:

“This is the address of the house where Helmedge lives.”

The Shadow nodded. He studied the card and placed it in his pocket. In steady tones, he mapped a future plan.

“Furbish will come here,” promised The Shadow. “Lamport will not. Malfort will see his schemes doubly thwarted. Knowing nothing about Helmedge, Malfort will then have reached the end of his first campaign.”

“He will be ready for his final stroke,” acknowledged Major Rowden. “He will come here to seize the jewels.”

“Exactly,” agreed The Shadow. “Therefore, we must arrange something that will postpone his attack until an opportune time.”

“How can that be done?”

“Quite simply. By introducing another factor into the game. First, major, we must let Malfort know that your Chicago purchaser, Lamport, has lost interest in the jewels. In place of Lamport, you will find a substitute – a wealthy man who will consider buying gems, but who will not commit himself too definitely.”

“You know of such a man?”

“Yes. His name is Lamont Cranston.”

Rowden nodded.

“I have heard of Cranston,” he declared. “He is a multimillionaire, who travels everywhere. I understood, though, that Cranston was in Australia.”

“He has returned to New York,” asserted The Shadow, in a matter-of-fact tone. “He flew from the Orient by clipper ship. You can reach him by telephone at the Cobalt Club, here in New York. Call him at eleven o’clock tonight. Tell him your proposition. Ask him if he would like to buy gems that Lamport no longer wants.”

“But Malfort’s spies will overhear the call!”

THE SHADOW smiled. Rowden’s eyes widened. The whole plan dawned upon the major. He realized that The Shadow intended two contacts after leaving the penthouse: one, with Lamport, a warning to the Chicago railroad magnate; the other, with Cranston, telling him to consider the major’s offer but to make no immediate decision.

Success in this strategy depended directly upon the fact that Malfort would get word of Rowden’s call. Malfort would drop Lamport and be ready for Cranston instead. But the master crook would make no move while Cranston remained undecided. Thus would The Shadow hold off the time of Malfort’s final stroke: the attack against Rowden himself.

What Major Rowden did not guess was that the real Lamont Cranston was still in Australia. It was The Shadow, himself, who would be at the Cobalt Club to receive Rowden’s call. When Cranston was absent from New York, The Shadow frequently passed himself as the globe-trotting millionaire.

Rowden, nevertheless, had grasped the main idea of The Shadow’s plan. Smiling, Rowden sat puffing at his meerschaum. He laid the pipe aside when he saw The Shadow don his cloak and hat. He watched his visitor draw on a pair of thin black gloves.