It moved slightly beneath his weight. One of the legs was shorter than its fellows. But he reached the floor as quietly as possible, and instantly snapped off the light of the torch.

A heavy step sounded from outside—someone was mounting the stairs—and a disk of light suddenly appeared upon the ground-glass panel of the door.

Kerry stood quite still, chewing steadily.

“Who’s there?” came the voice of the constable posted on Kazmah’s landing.

The inspector made no reply.

“Is there anyone here?” cried the man.

The disk of light disappeared, and the alert constable could be heard moving along the corridor to inspect the other offices. But the ray had shone upon the frosted glass long enough to enable Kerry to read the words painted there in square black letters. They had appeared reversed, of course, and had read thus:

CHAPTER XI.
THE DRUG SYNDICATE

At six-thirty that morning Margaret Halley was aroused by her maid—the latter but half awake—and sitting up in bed and switching on the lamp, she looked at the card which the servant had brought to her, and read the following: