Instantly and instinctively, in two simultaneous gestures, Lanyard dropped the necklace into an inner pocket of his coat and switched off the picture-light.

With hands now as steady and sure as they had been vacillant a moment since, he closed the safe door noiselessly, shot its bolts, and was yards away, crouching behind an armchair, before the man outside had ceased to fumble with the window fastenings.

If this were the watchman Howson, doubtless he would be satisfied with finding the room dark and apparently untenanted, and would go off upon his rounds unsuspecting. If he did not, or if he noticed the displaced panel, then would come Lanyard's time to break cover and run for it.

With a faint creak one of the windows swung inward. Curtain-rings clashed dully on their poles. Someone came through the portières and paused, pulling them together behind him. The beam of an electric flash-lamp lanced the gloom and its spotlight danced erratically round the walls.

Now there was no more thought of flight in Lanyard's humour, but rather a firm determination to stand his ground. This was no night watchman, but a housebreaker, one with no more title to trespass upon those premises than himself; and at that an unskilled hand at such work, the rawest of amateurs practising methods as clumsy and childish as any actor playing at burglary on a stage before a simple-minded audience.

The noise he made on entering alone proved that, then this fatuous business with the flash-lamp. And as he moved inward from the windows it became evident that he had not even had the wit to close the portières completely; a violet glimmer of starlight shone in through a deep triangular gap between them at the top.

For all that, the intruder seemed to know what he wanted and where to seek it, betrayed a nice acquaintance with the room, proceeding directly to the safe picked out by his lamp.

Arrived beneath it he uttered a low sound which might have been interpreted as surprise due to finding the panel already out of place. If so, surprise evidently roused in him no suspicion that all might not be well. On the contrary, he quite calmly located and turned the switch controlling the picture-light.

Immediately, as its rays gushed down and disclosed the man, Lanyard rose boldly from his place in hiding. Now there was no more need for concealment; now was his enemy delivered into his hands.

The man was "Karl."