“I know it. This beard is a perfect disguise; for it is a real growth. I knew you the minute I saw you, when you came to Harvey’s Wharf.”

“Why didn’t you tell me who you were then?”

“That’s not my policy, Vincent. Those who have been friends once may be enemies later. I wanted to know your purpose here.”

“I do not know it, myself,” admitted Harry. “I have been told to report what goes on — “

“To The Shadow, I suppose,” interrupted Marquette.

“Yes,” replied Harry. “To The Shadow. I know that there is danger here — that Professor Whitburn is involved — but that is all.”

“What have you seen to date?”

“Nothing that I can explain. Last night — strange shapes appeared above the house. Something arose from the lake — like a phantom. To-night, I heard a tapping in the tower — I went up to see what was happening there.”

Vic Marquette laughed silently.

“Vincent,” he said, “you would have been dead this minute, if I hadn’t been watching you. Perhaps you do not know what this place is all about — but I suspect that The Shadow knows more than you.