With one accord they rushed down a flight of wooden steps to the basement. Flash groped for a switch and finding it, flooded the room with light. Dense, black smoke was pouring from an adjoining doorway. They could hear the faint crackling of flames.

Rushing into the furnace room, Flash and Jerry stopped short. A wall of fire met their gaze. And on the cement floor, writhing and twisting, lay a man, bound and gagged.

CHAPTER X
THE MISSING PICTURES

Flash leaped forward. Pulling a knife from his pocket, he slashed at the ropes which held the man a prisoner. Jerry jerked off the handkerchief gag, and pulled him to his feet.

“Thanks!” gasped the man. “Now turn in a fire alarm quick, before my building goes up in smoke!”

Jerry ran out to the street, while Flash and the building owner turned on the disconnected sprinkler system. In addition they used buckets and hooked up a hose, keeping a steady stream of water playing on the blaze. By the time Jerry raced back, they had the fire well under control, while the sprinkler system would complete their work.

“Guess we won’t need the fire department after all,” murmured Flash, gazing at the blackened wall. He turned to the building owner. “What happened anyway? Who tied you up?”

“I’ll tell you!” the man said excitedly. “My name is Sam Davis. I own this building. Two weeks ago I was approached by a man who represented himself as Judd Slater, an agent for the North Brandale Mutual Insurance Company.”

“Never heard of it,” commented Flash.

“Nor has anyone else! It’s a dummy company, set up for the sole purpose of forcing building owners to pay exorbitant sums for protection.”