Luckily, the only photograph of him in existence, the one the newspapers had displayed on their front pages the morning after the murder, showed him smooth shaven. The beard, giving him a maturer and somewhat more professional appearance, afforded a thin and yet fairly satisfactory disguise, but it would be of scant use if by the slightest misstep or careless move he should attract suspicion to himself. In such an event, certain records filed away in the archives of the police would quickly establish his identity as the Gray Phantom. Nevertheless, he was pleased that the descriptions carried by the newspapers had made no mention of a beard.

There was a measure of safety, too, in the sheer audacity with which he was proceeding. The man hunters might look everywhere else, but they would scarcely expect to find their quarry living sumptuously at a first-class hotel. His free and easy mode of conduct, unmarked by the slightest effort at concealment, afforded a protection which he could not have found in the shabbiest hovel and under the most elaborate disguise.

Yet, despite all the safeguards his brain could invent, the situation was perilous enough to give the Gray Phantom all the excitement his nature craved. His pulses throbbed, and there was a keen sparkle in his eyes as he left the hotel and went out on the streets. The very air seemed charged with a quality that held him in a state of piquant suspense. The policemen appeared more alert than usual, and now and then snatches of conversation reached his ears from little groups at street corners and in doorways who were avidly discussing the Gage murder and the chances of the Gray Phantom being caught. At each subway entrance and elevated stairway loitered a seemingly slothful and impassive character whom his trained eye easily identified as a detective.

Chuckling softly in his beard, the Phantom walked on. No one seemed to suspect that the striking and faultlessly garbed figure that sauntered down the streets with such a carefree and easy stride, looking for all the world like a leisurely gentleman out for his morning constitutional, might be the object of one of the most thorough and far-reaching man hunts ever undertaken by the police. Occasionally he paused to inspect a window display, incidentally listening to a discussion in which his name was frequently mentioned. The East Houston Street murder, which under ordinary circumstances would have attracted but passing notice, had become a tremendous sensation because of the Gray Phantom’s supposed connection with it.

Gradually he veered off the crowded thoroughfares and entered into a maze of crooked, narrow, and squalid streets where housewives and children with dirt-streaked faces viewed his imposing figure with frank curiosity. After a glance at a corner sign he turned east, quickening his pace a little and scanning the numbers over the doorways as he proceeded. One of the buildings, a murky brick front with a funeral wreath hanging on the door and a tobacconist’s sign lettered across the ground-floor window, he regarded with more than casual interest.

“Sylvanus Gage, Dealer in Pipes, Tobacco, and Cigars,” he read in passing; then, after a moment’s hesitation, he pursued his eastward course, a thoughtful pucker between his eyes. He was trying to outline a course of procedure, a matter to which hitherto he had given scant attention, for the Phantom was the veriest tyro in the science of criminal investigation. It occurred to him that one of his first steps should be an inspection of the scene of the murder.

A few blocks farther east he turned into a once famous restaurant and ordered luncheon. He dallied over the dishes, smoked a cigar while he drank his coffee, and it was after three o’clock when he left the place and headed in the direction of the tobacco store. This time he paused in front of the establishment, looked through the window, and finding the interior deserted, resolutely rang the bell. Some time passed before the side door was opened by a flat-chested woman with sharp features and unkempt gray hair.

“What do you want?” she demanded sulkily, regarding the caller with oddly piercing eyes. “Can’t you see the store’s closed?”

The Phantom lifted his hat and smiled urbanely. “Sorry to intrude,” he murmured. “You are Mrs. Trippe, I believe?”

“Well, suppose I am?”