Neither assassin vouchsafed a word in reply. Black-beard crouched to hurl himself upon his defenseless victim when—

Crash! the whip-like report of a revolver sounded from the doorway and through the drifting smoke the figure of him they had called the “count” was visible.

“Perdition!” groaned Black-beard, half-rising from the floor. “You have killed me, Polnychek!”

Twisted Mouth had dodged in amazed terror behind the table, whence he now flourished his knife uncertainly.

Pandemonium had broken loose below stairs. Cries of alarm, screams, curses, stentorian commands mingled with a thunderous fusillade of shots. The staircase resounded with the rush of many feet upon it. The treacherous Grand Chancellor burst wildly into the room. He took in the scene with one sweeping glance.

“What is the meaning of this, Polnychek?” he cried threateningly. “Are you playing us false?”

In answer, the “count” dramatically threw aside the familiar cape and hat which had up to this time concealed his face. A ferocious curse burst from the astounded Chancellor.

The Mysterious Man in the Cloak.

Instead of facing Count Polnychek, he was confronted by the glinting muzzle of a revolver in the hands of Ned Napier!