“Hold the wire a minute,” came the answer; and then, presently: “Not serious; but still unconscious.”

“Thank you,” said Jimmie Dale.

He hung up the receiver, and made his way out to the street. The coast was clear then, as far as Thorold was concerned. Jimmie Dale walked on halfway up the block, and turned into the lighted hallway of a small building whose second floor, above a millinery establishment, was rented out for offices. It was here that Thorold maintained what he called his “office.” Mounting the stairs and emerging upon a narrow corridor, that was lighted at one end by a single incandescent, Jimmie Dale halted before a door that bore the legend: HENRY THOROLD—AGENT. Jimmie Dale’s lips twisted into grim lines. Agent—of what? He glanced quickly up and down the corridor, slipped his little steel instrument into the lock, and opened the door.

He stepped inside, closing the door without re-locking it; and, using his flashlight now, moved forward, and entered a sort of inner office that was partitioned off from the rest of the room. There was a flat-topped desk here, a swivel chair, an armchair, a rather good drawing or two on the walls, and a soft yielding carpet underfoot. Thorold was far too clever to overdo anything—it was simply businesslike, with an air of modest success about it.

Jimmie Dale appropriated the swivel chair behind the desk. Half an hour from the time he had left the tenement! He should not have long to wait, for he had used up nearly, if not quite, all of that time already, and the thief would certainly have every incentive to be punctual. He laid his flashlight, turned on, upon the desk, and, taking his automatic from his pocket, examined it. There were still two cartridges remaining in the magazine. He slipped the weapon into the side pocket of his coat, and began to sort over the papers and letters he had taken from Thorold. He opened one—a letter—glanced at its contents—and nodded. It was the one to which the Tocsin had referred. He returned the others to his pocket, began to read the one in his hand and suddenly, leaning forward, snapped out his light. Was that a step coming up the stairs?

He listened now intently. Yes, it was coming nearer. He laid down the letter on the desk, and put on his mask. Still nearer came the step. It had halted now before the door. And now the hall door opened and closed. Jimmie Dale sat motionless, except that his hand crept to his coat pocket, and from his coat pocket to the desk again. The door closed softly—a man had entered the outer room—and certainly a man who was no stranger to the place, for he was moving unerringly in the darkness toward the partition door. The man was in the inner office now, passing the desk, so close that Jimmie Dale could have reached out and touched him. There was a soft, rubbing sound as the man’s hand felt along the wall for the electric light switch, a click, the room was suddenly flooded with light; and, with a low cry, blinking there in the glare, staring at Jimmie Dale’s masked face—stood Colonel Milford.

And then the old gentleman swayed, and caught at the back of the armchair for support—upon the desk lay the diamond pendant, glittering under the light.

“My God!” he whispered. “What does this mean?”

“It means, colonel,” said Jimmie Dale softly, “that Thorold couldn’t come, that old Jake found one of the diamonds cloudy and with a flaw, and that the deal fell through—and it means, colonel, that you will never be called upon to steal Mrs. Milford’s diamonds again; there is a letter here that—”

“The letter!” The old gentleman was staggering toward the desk. He reached out his hand for the letter, hesitated as though he were afraid that Jimmie Dale was only tantalising him, would never let him have it—and then with a little cry of wondrous gladness, he snatched it to him.