"There is no reason that I know of why I should," said the old baronet. "Did you ever hear of a man called Shadow Varne?"

Captain Francis Newcombe shook his head.

"No," he said.

"Possibly, then," said the old baronet, "you may remember the robbery at Lord Seeton's place? It was during the war."

"No," said the other thoughtfully. "I can't say I do. I don't think I ever heard of it."

"Well, perhaps you wouldn't," nodded the old baronet. "It happened at a time when, from what you've said, I would imagine you were in the ranks, and—however, it doesn't matter. The point is that the robbery at Lord Seeton's is amazingly like, I could almost say, each and every one of this series of robberies that is taking place to-day. The same exact foreknowledge, the hidden wall safe, or hiding place, or repository, or whatever it might be, that was supposedly known only to the family; the utter absence of any clue; the complete disappearance of—shall we call it?—the loot itself. There is only one difference. In the case of Lord Seeton, the jewels—it was principally a jewel robbery—were eventually recovered. They were found in Paris in the possession of Shadow Varne. But"—the old baronet smiled a little grimly again—"the police were not to blame for that."

Sir Harris Greaves, amateur criminologist, reverted to his tumbler of Scotch and soda.

Captain Francis Newcombe knocked the ash from his cigarette with little taps of his forefinger.

"Yes?" he said.

"It's a bit of a story," resumed the old baronet slowly. "Yes, quite a bit of a story. I do not know how Shadow Varne got to Paris; I simply know that, had he not taken sick, neither he nor the jewels would ever have been found. But perhaps I am getting a little too far ahead. I think I ought to say that Shadow Varne, though he had never actually up to this time been known in a physical sense to the police, had established for himself a widespread and international reputation. His name here, for instance, amongst the criminal element of our own East End was a sort of talisman, something to conjure with, as it were, though no one could ever be found who had seen or could describe the man. I suppose that is how he got the name of Shadow. Some must have known him, of course, but they were tight-lipped; and even these, I am inclined to believe, would never have been able to lay fingers on him, even had they dared. He was at once an inscrutable and diabolical character. I would say, and in this at least Scotland Yard will agree with me, he seemed like some evil, unembodied spirit upon whom one could never come in a tangible sense, but that hovered always in the background, dominating, permeating with his personality the criminal world."