When Theodore Galvin died he was in the company of a man named Reynold Barker. He answers the description of the man found in Galvin’s study. Barker left Asuncion by airplane immediately after Galvin’s death. Supposed cause of Galvin’s demise, yellow fever. Investigation indicates poisoning. Have obtained this information by investigation of attending physician. Have also learned that Galvin talked with Barker. His last words — in English — were addressed to Barker. They were incoherent and only partly understood by those who were present. The word “desk” was heard — also another word, thought to be “studio.” It might well be “study.” This completes investigation. Have cabled to that effect and will return by next boat unless contrary reply is received.

Underneath the coded letter, the hand wrote a name, thus giving the message its only signature. The name the hand wrote was Harry Vincent. This was the name of one of The Shadow’s trusted agents.

Hardly had the hand written, before the translation of the letter began to fade. It went word by word, as though erased by an invisible brush. The signature which had been supplied was the last to go.

This strange effect was due to the disappearing ink in which the letter was written — ink prepared by a chemical formula known only to The Shadow.

The hands now busied themselves with the slip from the Cobalt Club — that important sheet of paper which carried the copy of Theodore Galvin’s cryptic marks.

The slip lay upon the large map, close to the pin which showed the old mansion’s location. Invisible eyes were poring over it, pondering upon each mysterious character, seeking to learn the message which it bore.

Ten minutes went by, and not once did the hands move. Then came a sudden action.

The slip was laid to one side. A slender finger tip moved from one pin to another. It stopped on the pin that showed the mansion.

The left hand appeared, carrying a gold-headed pin. The fingers of this hand carefully inserted the pin in a spot on the map.

A laugh sounded in the darkness — a hollow, mirthless laugh that carried a strange significance. The laugh dwindled to a whisper, and its eerie echoes reverberated from the walls of the dark room, so low and soft that one could not have known when the laugh ended and only echoes followed.