It was the radiogram which Tholbin had so recently read. That smooth-working hand unfolded the sheet of paper without a telltale sound. The old gentleman’s gaze dropped. His shrewd eyes read the message as the hand drew it almost in front of his body.

Then his gaze was once more on the players. The creeping fingers folded the sheet, replaced it in Tholbin’s pocket, and regained their hold upon the cane.

Time passed rapidly by. Tholbin walked away and sat on a couch. The old gentleman grew tired watching the game of which he appeared to know so little, and retired to a chair. There he rested and apparently went to sleep.

No one thought to wake him, and he slept on, as peacefully as if he had been in his cabin. The players kept at their game, while Tholbin smoked innumerable cigarettes. At last the sallow-faced young man became restless. He arose, glanced thoughtfully at his attire, and left the smoking room.

Shortly afterward, the old gentleman awoke with a start. He glanced at the clock and seemed to note with alarm that it was almost five. Finding his cane, he limped from the smoking room in a great hurry.

He entered the same cabin which he had left. That was the last of the old gentleman. When the same door reopened, a black-clad figure stepped silently into the hall.

The Shadow was again trailing David Tholbin!

CHAPTER XVIII. THE BATTLE AT SEA

TOBIAS WADDELL arose from his seat at the poker table. He had lost heavily tonight, and he was annoyed. Money meant little to the millionaire, but he enjoyed the glory of winning.

“Time for some sleep,” he growled. “Daylight is coming. The cards always get worse after dawn.”