“I have.” There was a note of pride in Palermo’s voice. “I have found him. I can destroy him. But I need your aid.”

“It is yours.”

“The Shadow,” said Palermo, “works with the daring of a criminal. He is not a man of the underworld.

He belongs to the highest realm of society.

“Knowing this, I have studied my complete records. They contain data concerning all those who move among the Four Hundred. One by one I have eliminated possibilities, until I have discovered the only name which cannot stand full analysis.

“The Shadow, when he chooses to mingle with the elite, appears under the name and person of George Clarendon.”

The name meant nothing to Thelda.

“George Clarendon,” continued Palermo, “will be at an exclusive affair tomorrow night. It will be held in the ballroom of the Larchmore Hotel.

“You will be escorted there by Mr. Herbert Archer, a young society man. You will be introduced to George Clarendon.

“If you are as beautiful tomorrow night as you are tonight, Clarendon will respond to your charms.”