The light was lifted from the floor. It shone on a mirror that was held by a hand. With a single motion, the black cloak and hat were lifted upward, then they fell to the floor. A face was revealed in the circle of light. It was the face of Pedro the Mexican!

As the standing figure turned, Vincent could see the features plainly. They were the perfect replica of Pedro's countenance. Even the scar on the cheek appeared in livid vividness.

The lips moved. They showed a sneer. It was an exact representation of the triumphant expression which the Mexican had revealed when he had poised the machete above Vincent's breast.

The real Pedro lay on the floor, but above him stood his exact duplicate! It seemed incredible — impossible — yet it was actuality!

For one brief instant the face of the false Pedro changed its expression. Then the sneer reappeared. The light was out; the standing figure was gone.

As Harry Vincent rose to his feet and steadied himself against the wall, a weird, unforgettable sound echoed through the vaulted basement.

It was the sound of a laugh — a whispered laugh a mocking laugh that brought a sudden throbbing to Harry Vincent's temples.

It was the laugh of The Shadow!

CHAPTER XVI. THE OLD MAN'S STRATEGY

Isaac Coffran was standing in the center of the front room on the second story. He was facing the curtained doorway, but his eyes were on the floor. A cunning smile was on his lips. He was gloating and triumphant. His hands were behind his back; his pose was one of enjoyable anticipation.