"It's a wonderful make-up, isn't it?" he said. "I used to say that disguises were out of date, but M. Max has taught me I was wrong."

"Max!" cried Stuart.

"At your service," replied the apparition, "but for this evening only
I am 'Le Belafre.' Yes, pardieu! I am a real dead man!"

The airy indifference which he proclaimed himself to represent one whose awful body had but that day been removed from a mortuary, and one whom in his own words he had "had the misfortune to strangle," was rather ghastly and at the same time admirable. For "Le Balafre" had deliberately tried to murder him, and false sentiment should form no part of the complement of a criminal investigator.

"It is a daring idea," said Stuart, "and relies for its success upon the chance that 'The Scorpion' remains ignorant of the fate of his agent and continues to believe that the body found off Hanover Hole was yours."

"The admirable precautions of my clever colleague," replied Max, laying his hand upon Dunbar's shoulder, "in closing the mortuary and publishing particulars of the identification disk, made it perfectly safe. 'Le Balafre' has been in hiding. He emerges!"

Stuart had secret reasons for knowing that Max's logic was not at fault, and this brought him to the matter of the sealed paper. He took up the envelope.

"I have here," he said slowly, "a statement. Examine the seal."

He held it out, and Max and Dunbar looked at it. The latter laughed shortly.

"Oh, it is a real statement," continued Stuart, "the nature of which I am not at liberty to divulge. But as to-night we take risks, I propose to leave it in your charge, Inspector."