As Claude H. Fellows, the insurance broker, he had a wide circle of acquaintances, who looked upon him as a prosaic business man. But Fellows’ real work in life was more dramatic. He was the confidential agent of that mysterious personage called The Shadow.

The insurance broker was an important cog-wheel in the human mechanism that served The Shadow in his encounters with master criminals.

Fellows was a methodical man who had the ability to assemble facts and information. It was his duty to maintain contact with the unknown Shadow, and to pass instructions along to other workers.

To-day he had been busy all afternoon, clipping items that pertained to the suicide of Jonathan Graham, the millionaire importer. It was nearly twenty-four hours since Graham had died, and Fellows had gathered everything from all the newspapers.

The insurance broker went to the typewriter and prepared a synopsis that dealt accurately with the accounts of Jonathan Graham’s death. It was his duty to prepare reports on such occurrences as this one.

Jonathan Graham gave an interview to a reporter at four o’clock, stating that if he had but one hour to live, he would go about his work in regular procedure.

He lived up to that statement. He called in his secretary, Berger, and a stenographer, Miss Smythe, and dictated a number of letters, which he signed.

At precisely five o’clock, Miss Smythe left the private office. Berger followed with the signed letters. Miss Smythe was halfway across the waiting room when Berger came out. She had forgotten a pad, and she returned to the inner office.

She was speaking to Berger as she opened the door. He had turned toward the door, and as the stenographer opened it, Berger could see directly across the private office.

He dropped the letters suddenly, and leaped forward, crying, “Mr. Graham! Stop! Don’t! Don’t!” Then he slumped against the wall, gasping in horror.