Chief Yates uttered a raucous laugh. He had the explanation. He pointed downward, just as the lift came into view.

“Those big pillars!” he shouted. “Thee of them — right in the center of the night club. This goes down the middle one. Down into the cellar! Right through, with five hundred people all around!

“Get in there, one of you fellows. This is the way Wheels Bryant took. Say — chase down and watch under the board walk. That’s the way he’s gone. Send searchers everywhere. Emergency orders are still on!”

Yates watched as one of his men started down the shaft — that ingenious passage, the secret of which had been shared by two men — Wheels Bryant and Big Tom Bagshawe. Through this, Wheels had paid his mysterious visits to and from the meeting room, unseen by any one.

There was another who had used that method also. Until now, he had been the third to know of its existence. The Shadow — watching in the dark — had learned the secret. Through this elevator, he, too, had attended the meetings of the kings of crime!

Men were taking up the chase. Chief Yates knew that his surmise must be correct. Using this exit, Wheels Bryant was on his way to safety. Could they catch him now? Yates set his teeth grimly. They must catch him — the archfoe of justice!

Vainly, the police chief racked his brain. To his thoughts came the voice of the mysterious man who had first warned — months ago; and who had later exposed — this very night.

The Shadow!

Who was he? Where was he? Could he not help again, in this time of need?

Even as Yates wondered, the telephone rang upon Big Tom Bagshawe’s table. Eagerly, Yates seized it. He half expected to hear the tones of that whispered, sinister voice. Instead, he was listening to Graham Hurley, the proprietor of the Hotel Pavilion.