John rose, and as he did so the lady flashed a brilliant smile towards him—an intimate, understanding smile, full of meaning.

"I wish I knew what you meant," thought John, as he made his way through the throng out towards the cloak-room.

The circulating door received him, and he passed out into the dim light of the Strand. There was a crowd, as always at that hour, and a young man who followed closely at his heels found difficulty in keeping him in sight.

John was burning once more to look at the information Mrs. Beecher Monmouth had conveyed to him. But caution forbade anything of the sort. He was determined that this, his first swim in deep waters, should achieve a successful issue. His chief desire in life was to make good in Dacent Smith's eyes, and, moreover, obeying his chief's instructions, he had already indelibly impressed upon his memory the portentous sentence: "Imperator—three o'clock to-morrow. Route 28."

The word "treachery" floated into his mind, and filled him with rage. Until now he had been outside—one of the public. But to-night the curtain had been drawn aside. He felt himself engaged in the secret fight which is for ever taking place beneath the surface—the fight between our own secret service and the spies and traitors in the pay of the other nations.

At Hampstead, John emerged from the Tube and made his way through the darkness of Well Walk. Presently he turned to the left, through an alley, crossed a square of shabby-looking houses, and ascended a further closely-built, narrow street, leading towards Cherriton's residence.

The young man who had followed him from the Savoy was still in his wake. At this point, however, he apparently ceased his pursuit, and vanished up a side alley.

John, who had been aware of footsteps for some minutes, halted and looked behind him. The road was empty, and the suspicion that had been growing on him vanished. Nevertheless, he laid a hand on his hip pocket, assured himself that he was prepared for eventualities and moved forward again.

"I'll give this nefarious bit of news to Cherriton, then hop down to Dacent Smith and report the fact as quickly as I can," thought John.

He reached the top of Christ Church Road and paused to recollect which turning was the right one. At that moment some one moved in the shadow of the church railings near him, and before John could turn his head a doubled fist smote him heavily. The attack was so sudden, unexpected and swift that before he could in any way retaliate a second blow had been delivered.