"Because he must be aware that I know he is in London."

"Well?"

"Dr. Fu-Manchu has no official status. Long ago, his Legation denied all knowledge of his existence. But the mandarin Ki-Ming is known to every diplomat in Europe, Asia and America almost. Only I, and now yourself, know that he is a high official of the Si-Fan; Ki-Ming is aware that I know. Why, therefore, does he risk his neck in London?"

"He relies upon his national cunning."

"Petrie, he is aware that I hold evidence to hang him, either here or in China! He relies upon one thing; upon striking first and striking surely. Why is he so confident? I do not know. Therefore I am afraid."

Again a cold shudder ran icily through me. A piece of coal dropped lower into the dying fire—and my heart leapt wildly. Then, in a flash, I remembered something.

"Smith!" I cried, "the letter! We have not looked at the letter."

Nayland Smith laid his pipe upon the mantelpiece and smiled grimly. From his pocket he took out square piece of paper, and thrust it close under my eyes.

"I remembered it as I passed your borrowed garment—which bear no maker's name—on my way to the bedroom for matches," he said.

The paper was covered with Chinese characters!