“Is that all you have to say?” Savoli’s voice was quiet, yet defiant. Its commanding tones seemed to hold the full attention of the man in black — the very purpose which Savoli desired.

“That is all,” replied The Shadow.

Steve Cronin appeared from behind the screen. He had drawn his automatic. He leveled the gun toward the sinister man in black.

The gangster was trembling. Even the presence of The Shadow frightened Steve Cronin; yet he had more than one score to settle with the dread of the underworld, and his determination was supporting him.

Nick Savoli realized the situation in an instant. If he placed full reliance in Steve Cronin, he would have The Shadow at his mercy.

Yet Savoli knew that Cronin was frightened. He also knew Mike Borrango might betray a changed expression that would warn the black-clad figure of the menace that lay behind him.

Even as these thoughts moved through Savoli’s quick mind, he saw The Shadow begin to turn, and knew his enemy was conscious of the danger.

“Shoot!” commanded Nick Savoli, in a firm, harsh voice.

Steve Cronin pressed the trigger of his automatic. The roar of the gun was deafening in the small room. The gangster was trembling but his aim was sure, for the muzzle of his automatic was scarcely more than three feet from the form of The Shadow.

Nick Savoli expected to see the black-clad man crumple and fall. Instead, The Shadow laughed!