ll conversation stopped and every man looked up
from a luxurious overstuffed chair. Pardeau must certainly have swelled
inwardly with pride at this unconscious tribute. It was well known that
he held a key position on the chessboard of politics. His was in reality
the most important job of all. It was to Pardeau that this powerful
group of men looked for that which they most treasured--their own
personal safety.

A chair was waiting for Pardeau. He said, "I'm sorry to be late,
gentlemen. I have been on a personal tour of inspection. I'm sure you
will forgive me however. I have a most interesting report."

He seated himself, timing the action so it coincided with the ebb of
applause coming over the speaker--applause from the loyal multitudes
who had just heard Professor Cargill end his lecture. As it was now
permissible, Blanchard reached under the table and snapped a button. The
speaker went silent.

"An interesting report?" Keeley asked.

"Amazingly so," Pardeau said. "I have just unearthed a traitor--a
traitor in a high place."

Every man in the group strove not to react and this striving was in
itself a reaction. "Most interesting," Blanchard murmured. "Are you
ready to name names?"

"That is my intention, but in order to forestall a great many questions,
let me give you a complete background."

Leiderman, Ambassador without Portfolio, and very close to the Man of
Almost Sacred Name who never attended these meetings, felt strong enough
to evince impatience. "The name, man! First the name. Then the details."

Pardeau smiled coldly. "Very well. The name is, Karl Lenster."

Leiderman sprang from his chair, his face bordering on purple. "Is this
a joke, Pardeau? We all know Lenster is the arch-traitor of our
times--the leader of the resistance movement. Talk sense!"

Pardeau, not in the least disconcerted, smiled coldly. "I'm sorry.
Perhaps I should have said Emil Hillerman, my Deputy of Vital
Intelligence, the man who holds immeasurable power in his two hands."

Blanchard was not given to outbursts. But his lips were grim as he said,
"We are waiting for you to talk sense, Pardeau."

"The confusion comes from your not allowing me to tell it as I wished.
There is a gap between Lenster and Hillerman; one which--with your
permission--I will fill."

"Talk, man! Talk!"

"You have all heard of Formula 652, known also as the Wyckoff Chemical
Transformation Process."

There were expressions of both understandi