He tilted his chin against his hand and lapsed into deep thought. When he looked up, several minutes later, The Phantom was gone. Very softly, with a twinkle in his eyes, he stepped to a recess in the wall toward which he had cast an occasional furtive glance during his talk with The Phantom. On a marble shelf extended across the niche were a number of potted ferns, and behind them was a small window, artistically decorated to render it opaque. Culligore, noticing that it stood open a crack, pricked up his ears and listened. From the other side came a faint, scraping sound, as if someone were hiding there.

Culligore nodded elatedly as he tiptoed away. He seemed immensely gratified at having verified his suspicion that his interview with The Gray Phantom had been overheard.

[CHAPTER XII—MR. SHEI STRIKES]

A fine drizzle was in the air and the street lights emitted a blurred and languid sheen. For an hour The Gray Phantom had been pacing the sidewalk across the street from the Whipple Hotel, impatiently waiting for the lights in Mr. Fairspeckle’s suite to go out. His coat collar was turned up and the brim of his soft hat was pulled low over his forehead. Taking Culligore’s warning to heart, he had resolved not to endanger his project by running unnecessary risks.

The passing pedestrians gave him scarcely a glance, and he told himself that the inclement weather was a point in his favor. Evidently neither Culligore nor Starr had mentioned his presence in the city, for he could see no signs of accelerated activity on the part of the police, as there would have been if the news had leaked out that The Gray Phantom had come out of hiding. The solitary watcher whom he had seen from the window of Mr. Fairspeckle’s bedroom earlier in the day had evidently quitted his task, for he was nowhere in sight.

Throughout the late afternoon and early evening, The Phantom had been harassed by fears for Helen’s safety. At times he had scarcely been able to control his impatience, but his eagerness had been cooled by the knowledge that a headlong rush into danger would only render the situation worse. His interview with Culligore had not only helped to clarify his mind, but it had left him with a renewed conviction that the emaciated and dour-looking ex-financier was Mr. Shei.

Again he cast a speculative glance at the windows of Mr. Fairspeckle’s apartment. All the lights but one had been extinguished since he last looked in that direction, and he guessed that the occupant had retired to his bedroom. His imagination pictured the old man sleeplessly pacing the floor, chuckling softly to himself while his mind evolved nefarious schemes. It was The Phantom’s plan to take him completely by surprise and if possible wring a confession from him. But above all else he was determined to ascertain whether Fairspeckle knew anything about Helen’s whereabouts.

He waited fifteen minutes longer, then adjusted his hat and collar and walked briskly across the street. With the air of one belonging on the premises he entered the hotel and, not thinking it safe to use the elevator, walked toward the stairway in the rear. A few drowsy loungers sat in chairs in the lobby, and the clerk was engaged with a late arrival, so no one noticed him. The long, heavily carpeted hallways were silent and deserted, for the Whipple was catering chiefly to the staid and respectable element that retires early and sleeps soundly.

The Phantom ascended three flights of stairs, then turned down the corridor toward Mr. Fairspeckle’s apartment. Reaching the door, he stopped and listened, but no sound came from the interior. After a cautious glance behind him, he took from his pocket a compact case which he always carried when engaged in enterprises like the present, and from its silk-lined grooves extracted a small metallic tool. In a few moments the lock had yielded to his deft manipulation, and he stepped inside.

Again he stopped and listened. The hallway in which he stood was lighted only by a tiny electric bulb in the ceiling, and its glow was so faint that the surrounding objects were scarcely distinguishable. At first he could not hear the slightest sound, and he was about to proceed when a curious impression caused him to draw in his steps. Perhaps his imagination was deceiving him, but he thought someone was sobbing, and he had a distinct impression that the sounds were coming from the door at his left.