At noon of the same day a scene equally tense, but of quite a different character, was being enacted in the library of W. Rufus Fairspeckle.

Dazedly The Gray Phantom set the telephone down. In tones too low for the older man to catch, he mumblingly repeated the startling message that had just come to him over the wire: “Mr. Shei speaking. If you value Miss Hardwick’s life, I would advise you to abandon your present plans.”

One by one, and in the order in which they had been spoken, the words trickled into his benumbed consciousness. He had heard Mr. Shei’s voice over the wire. He had been mistaken, then, and the shrunken and wizened man seated before him with eyes staring and mouth agape could not be Mr. Shei. Even the evidence of the typewritten slips lying on the desk seemed to mean nothing against the fact that the notorious rogue had just communicated with him by telephone.

“What—what’s the matter?” stammered Mr. Fairspeckle, who, not having the faintest inkling as to the nature of the message received by The Phantom, was at a loss to understand the latter’s demeanor. “Anything wrong?”

The Phantom scarcely heard him. The significance of the last part of Mr. Shei’s message came to him in a flash. In a twinkling his mind was functioning again. His eyes were threatening, like miniature thunder clouds. A new and dynamic impulse seemed to dominate his whole being. He snatched up the telephone directory and found a number. Then he fairly hurled himself at the telephone, frantically jigged the hook up and down, shouted a number into the transmitter, and waited breathlessly till the connection was established.

A woman’s voice, evidently that of a servant, answered. Miss Hardwick was not in, she explained, and when pressed for further information admitted that she had not been seen since breakfast the previous day. Mr. Hardwick, ill at ease because of his daughter’s absence, was instituting inquiries for her in various directions, and the servant did not know where he could be reached.

The Phantom’s eyes blazed as he set the instrument down with a slam. Mr. Fairspeckle, a flabbergasted look in his bulging eyes, seemed utterly at a loss to comprehend what was going on. For a moment The Phantom eyed him narrowly, then cast a bewildered glance at the typewritten slips, and finally turned abruptly on his heels and dashed from the room.

No one interrupted him. He suspected that Haiuto was lurking somewhere in the background, but he saw nothing of the sly-footed servant as he rushed from the apartment and, forgetting the existence of the elevator, scurried down three flights of stairs. The ferret-eyed individual whom he had seen from the window was still standing at the opposite curb, but he did not deign a single glance in The Phantom’s direction. Block after block, spurred on by a medley of anguishing doubts and suspicions, The Phantom continued his heedless progress, conscious only of the one agonizing thought that something had happened to Helen Hardwick.

Presently he awoke to a realization of the futility and recklessness of his conduct. His fears for Helen Hardwick had blunted his wits and stultified his reason, making him forget his old-time caution and nimbleness of mind. To no purpose he was rushing blindly into a net of dangers. With a mutter of disgust at his childish impetuosity, he drew in his steps and turned into a convenient doorway. A glance up and down the street assured him that, thanks to luck alone, his headlong course seemed to have attracted no attention. He scanned the crowd on all sides, but there was no sign of either espionage or pursuit. He had vaguely expected to be followed by the keen-eyed watcher he had seen on the sidewalk outside the Whipple Hotel, but the man was nowhere in sight. For the present, at least, The Phantom was safe. Now he must think clearly and act coolly.

He could not rid himself of the suspicion that Helen’s volatile nature and venturesome disposition had led her into some fearful predicament. He knew she had an infinite capacity for handling difficult situations, but the knowledge gave him scant comfort. He revolved the problem of her disappearance in his mind. She had been missing for more than twenty-four hours. He sensed a dim significance in the fact that she had passed out of sight the morning following the tragedy at the Thelma Theater, and of a sudden he asked himself whether there could be any possible connection between her disappearance and the death of Virginia Darrow.