Then he passed down into the darkness, closed the trap-door after him, shot into its socket the bolt he had

screwed there, flashed up the light of his electric torch, and, without the password, turned toward the sewers, and ran, and ran, and ran!

III

It lacked but a minute of the stroke of twelve, and the revels at "The Twisted Arm"—wild at all times, but wilder to-night than ever—were at their noisiest and most exciting pitch. And why not? It was not often that Margot could spend a whole night with her rapscallion crew, and she had been here since early evening and was to remain here until the dawn broke gray over the housetops and the murmurs of the workaday world awoke anew in the streets of the populous city. It was not often that each man and each abandoned woman present knew to a certainty that he or she would go home through the mists of the gray morning with a fistful of gold that had been won without labour or the taking of any personal risk; and to-night the half of four hundred thousand francs was to be divided among them.

No wonder they had made a carnival of it, and tricked themselves out in gala attire; no wonder they had brought a paste tiara and crowned Margot. Margot, was in flaming red to-night, and looked a devil's daughter indeed, with her fire-like sequins and her red ankles twinkling as she threw herself into the thick of the dance and kicked, and whirled, and flung her bare arms about to the lilt of the music and the fluting of her own happy laughter.

"Per Baccho! The devil's in her to-night!" grinned old Marise, the innkeeper, from her place behind the bar, where the lid of the sewer-trap opened. "She has not been like it since the Cracksman broke with her, Toinette. But that was before your time, ma fille. Mother of the heavens! but there was a man for you! There was a

king that was worthy of such a queen. Name of disaster! that she could not hold him, that the curse of virtue sapped such a splendid tree, and that she could take up with another after him!"

"Why not?" cried Toinette, as she tossed down the last half of her absinthe and twitched her flower-crowned head. "A kingdom must have a king, ma mere; and Dieu! but he is handsome, this Monsieur Gaston Merode! And if he carries out his part of the work to-night he will be worthy of the homage of all."

"'If' he carries it out—'if'!" exclaimed Marise, with a lurch of the shoulders and a flirt of her pudgy hand. "Soul of me! that's where the difference lies. Had it been the Cracksman, there would have been no 'if.' It were done as surely as he attempted it. Name of misfortune! I had gone into a nunnery had I lost such a man. But she——"

The voice of Margot shrilled out and cut into her words.