The two descended to the street. Opposite the Hotel de la Pax they parted. The sleek little Spaniard went on alone and mounted boldly those pretentious steps. At the desk he informed the clerk on duty that he must see Mr. Spencer Meyrick at once.

"But Mr. Meyrick is very busy to-day," the clerk objected.

"Say this is—life and death," replied Gonzale, and the clerk, wilting, telephoned the millionaire's apartments.

For nearly an hour Gonzale was kept waiting. Nervously he paced the lobby, consuming one cigarette after another, glancing often at his watch. Finally Spencer Meyrick appeared, pompous, red-faced, a hard man to handle, as he always had been. The Spaniard noted this, and his slits of eyes grew even narrower.

"Will you come with me?" he asked suavely. "It is most important."

He led the way to a summer-house in a far forgotten corner of the hotel grounds. Protesting, Spencer Meyrick followed. The two sat down.

"I have something to show you," said Gonzale politely, and removed from his pocket a copy of the San Marco Mail, still damp from the presses.

Spencer Meyrick took the paper in his own large capable hands. He glanced casually at the first page, and his face grew somewhat redder than its wont. A huge head-line was responsible:

HARROWBY WASN'T TAKING ANY CHANCES.

Underneath, in slightly smaller type, Spencer Meyrick read: