“Half an hour to work,” came the almost inaudible whisper. “Then to the Pink Rat. There will be trouble there.”

THE flashlight glowed constantly, now. It moved rapidly about the room. It stopped upon a table drawer.

A hand tested the drawer and found it locked. A small key glistened beneath the rays of the light. A moment later, the drawer was open.

From the drawer, the hand removed five blank cards. Three of the cards were black; one was gray; the other was white. The hand placed the cards upon the table.

The flashlight remained steadily upon the cards. The entire room had been searched quickly, but with amazing thoroughness.

These were the only objects that had been discovered. Yet the cards were blank. Apparently they meant nothing.

Still, the light was held upon them, as though a mind in the darkness above was studying them with concentrated thought.

The flashlight went out. The room remained black for a few short minutes. Then a lamp was turned on. It cast its illumination upon the table, and revealed the cloaked figure of The Shadow.

With the five cards before him, the mysterious personage produced a sheet of paper, and began to express his thoughts in writing. A column of short, terse statements appeared:

Stanley Berger killed Jonathan Graham. Stanley Berger is being watched. Why?