Using another pen — one which evidently contained permanent ink — The Shadow addressed the envelope to Claude H. Fellows, in the Grandville Building.

The light was turned out. Silence reigned amid the blackness. The mind of The Shadow had performed its work. Now the man had gone forth to act!

CHAPTER XII

AT THE COBALT CLUB

THE death of Jonathan Graham was no longer a matter of front-page interest; but it was still a subject of discussion at the Cobalt Club. The importer had been a prominent member of that social organization. The Cobalt Club was reputed to be the most exclusive in New York.

To-night, a small group of members were seated in the luxurious lounge, and their conversation dealt with Jonathan Graham. While they were talking, a young man entered, attired in evening clothes. He nodded to various persons in the group, but took no part in the discussion.

After a short while the group dwindled away, until only a single individual remained. He was a tall, gray-haired man, whose face was firm and dignified. Not the slightest semblance of a smile appeared upon his features.

The young man in evening clothes was still there. He was seated a short distance away, and now his eyes fell upon the one man who remained.

“Unfortunate,” observed the young man. “This death of Jonathan was most unfortunate. I knew him rather well. Splendid chap, Graham.”

The gray-haired man nodded.