--who were willing to enter into any scheme directed
against you and your company."

"Are we to stand here," Phipps demanded, "whilst you preach us a sermon
about our business methods?"

"I am afraid, for your own sakes, you must hear what I have to say before
you go," Wingate replied. "I will put it in as few words as possible. If
you give the show away, besides making yourselves the laughingstocks of
the world you may live for twenty-four hours if my people are unlucky,
but I give you my word of honour, Phipps--and I will do you the credit of
believing that you recognise truth when you come across it--that you will
both of you be dead before the dawn of the second day."

Phipps leaned against the back of a chair. He seemed to have aged ten
years in the last few days.

"You threaten us with the vengeance of some secret society?" he demanded.

"Not so very secret, either," Wingate rejoined, "but if you want to know
the truth, I will tell it you. The greatest problem which we had to
face, in arranging this little escapade, was how we should keep you
silent after your release. We could think of none but primitive means,
and those primitive means are established. There are five men, each of
them men who have been ruined by the operations of your company, who have
sworn to take your lives if you should divulge the truth as to your
detention here. They are men of their word and they will do it. That is
the position, gentlemen. I will not detain you any longer."

Phipps moistened his dry lips.

"If," he said, "we decide to hold our peace about the happenings of the
last few days, it will not be because of your threats."

"So long as you hold your peace," Wingate replied drily, "I have no
desire to question your motives. Believe me, though, silence, and silence
alone, will preserve your lives."

He opened the door and they passed out of the room, Phipps stumbling a
little, as though blinded by the unexpected sunshine which streamed
through the skylight in the hall. From the shadows beyond, Grant came
suddenly into evidence.

"Breakfast is served in the dining room," he announced respectfully.

A flickering anger seemed suddenly to blaze up in Stanley Rees. He
cast a furious glance at the man whose fingers had twisted their
imprisoning cords.

"Open the door," he snarled, "and let us get out of this damned house!"

Almost before the front door had closed upon Phipps and his nephew.
Inspector Shields descended the