"I can claim the big munitions factory," remarked the ober-leutnant as he telephoned to the navigating gondola for full speed. "Those first four had it to a nicety. The others—well, they did some damage."

The spy smiled.

"Yes; it all helps," he said. "Frightfulness always scores,"

"Realising, as we do, that every English baby is a potential enemy to Germany," added von Loringhoven. "Not necessarily in a military sense, but in the forthcoming commercial war."

Von Eitelwurmer glanced at his companion,

"The forthcoming commercial war," he repeated. "Our Emperor will see to it that there will be no British Empire to threaten our mercantile supremacy."

The commander of the Zeppelin shrugged his shoulders.

"I trust you are right," he rejoined, "but you do not realise the big task in front of us. These Englishmen are only just beginning to bestir themselves. We hoped to have beaten them long ago. Time is no longer on our side, and——"

Then, realising that his digression was bordering upon dangerous lines, he broke off.

"And now, von Eitelwurmer, we are homeward bound. In four hours I hope to shake hands with you on German soil."