class="indent">"Whoever you are," he responded, a subtle click of anger in his tone, "you shall be punished for this!"

"For what, Mr. Fell? For knowing too much of your private affairs?" The bandit laughed. "Fear not—I am only an amateur at this game, fortunately! So do your worst, and my blessing upon you! Now, gentlemen, kindly withdraw a few paces and join Uncle Neb yonder against the wall. All but you, Maillard; I'm not through with you yet."

The automatic pistol gestured; under its menace everyone obeyed the command, for the calm assurance of the bandit made it seem extremely likely that he would use the weapon without compunction. The men withdrew toward the far end of the room, where a word from the aviator halted them. Maillard remained standing where he was, his heavy features now mottled with impotent anger.

The Masquer advanced to the table and gathered the heap of money and scarfpins into the leathern pocket of his coat. During the process his gaze did not waver from the group of men, nor did the threat of his weapon lift from the banker before him.

"Now, Maillard," he quietly ordered, "you will have the kindness to turn around and open the wall safe behind you. And don't touch the button."

Maillard started.

"That safe! Why—why—damn you, I'll do nothing of the sort!"

"If you don't," was the cool threat, "I'll shoot you through the abdomen. A man fears a bullet there worse than death. It may kill you, and it may not; really, I care very little. You—you financier!"

Scorn leaped into the quiet voice, scorn that lashed and bit deep.

"You money trickster! Do you think I would spare such a man as you? You draw your rents from the poor and destitute, your mortgages cover half the parishes in the state, and in your heart is neither compassion nor pity for man or woman. You take the property of others from behind the safety curtain of the law; I do it from behind a pistol! I rob only those who can afford to lose—am I really as bad as you, in the eyes of morality and ethics? Bah! I could shoot you down without a qualm!"

In his voice was so deadly a menace that Maillard trembled. Yet the banker drew himself up and struggled for self-control, stung as he was by this flood of vituperation before the group of his closest friends.

"There is nothing of mine in that safe," he said, his voice a low growl. "I have given it to my son to use. He is not here."

"That," said the Masquer, calmly, "is exactly why I desire you to open it. Your son must make his contribution, for I keenly regret his absence. If you are a criminal, he is worse! You rob and steal under shelter of the law, but you have certain limitations, certain bounds of an almost outgrown honour. He has none, that son of yours. Why, he would not hesitate to turn your own tricks back upon you, to rob you, if he could! Open that safe or take the consequences; no more talk, now!"

The command cracked out like a whiplash. With a shrug of helplessness the banker turned and fumbled with the protruding knob of the safe. With one exception all eyes were fastened upon this amazing Masquer. The exception was Jachin Fell, who, suddenly alert and watchful, had turned his attention to Maillard and the safe, a keen speculation in his gaze as though he were wondering what that steel vault would produce.

All were silent. There was something about this Midnight Masquer that held them intently. Perhaps some were inclined to think him a jester, one of the party masquerading under the famous bandit's guise; if so, his last words to Maillard had removed all such thought. That indictment had been deadly and terrible—and true, as they knew. Bob Maillard was not greatly admired by those among his father's friends who best knew him.

Now the door of the safe swung open. The compartments appeared empty.

"Take out the drawers and turn them up over the table," commanded the Masquer.

Maillard obeyed. He took several of the small drawers, and all proved to be empty; this development drew a dry chuckle from Jachin Fell. Then, from the last drawer, there fell out on the table a large envelope, sealed. The Masquer leaned forward, seized upon this envelope, and crushed it into his pocket.

"Thank you," he observed. "That is all."

"Damn you!" cried Maillard, shaking a fist. "You'd try blackmail, would you?"

The bandit regarded him a moment, then laughed.

"If you knew what was in that envelope, my dear financier, you might not speak so hastily. If I knew what was in it, I might answer you. But I don't know. I only suspect—and hope."

While he spoke the bandit was backing toward the door that opened upon the lower hallway of the house. He drew this door open, glanced swiftly out into the hall, and then placed the key on the outside.

"And now, my friends—au revoir!"

The Masquer sprang backward into the hall. The door slammed, the key clicked. He was gone!

Maillard was the first to wake into voice and action. "The other door!" he cried. "Into the dining room——"

He flung open a second door and dashed into the dining room, followed by the other men. Here the windows, giving upon the garden, were open. Then Maillard came to a sudden halt, and after him the others; through the night was pulsating, with great distinctness, the throbbing roar of an airplane motor! From Maillard broke a bitter cry:

"The detectives—I'll get the fools here! You gentlemen search the house; Uncle Neb, go with them, into every room! That fellow can't possibly have escaped——"

"No word of alarm to the ladies," exclaimed Judge Forester, hurriedly. "If he was not upstairs, then they have seen nothing of him. We must divide and search."

They hastily separated. Maillard dashed away to summon the detectives, also to get other men to aid in the search.

The result was vain. Within twenty minutes the entire house, from cellar to garret, had been thoroughly gone over, without causing any alarm to the dancers in the ballroom. Maillard began to think himself a little mad. No one had been seen to enter or leave the house, and certainly there had been no airplane about. The Masquer had not appeared except in the library, and now he was most indubitably not in the house. By all testimony, he had neither entered it nor left it!

"Well, I'm damned!" said Maillard, helplessly, to Judge Forester, when the search was concluded. "Not a trace of the scoundrel! Here, Fell—can't you help us out? Haven't you discovered a thing?"

"Nothing," responded Jachin Fell, calmly.

At this instant Bob Maillard rushed up. He had just learned of the Masquer's visit. In response to his excited questioning his father described the scene in the library and added:

"I trust there was nothing important among those papers of yours, Robert?"

"No," said the younger man. "No. Nothing valuable at all."

Henry Gramont was passing. He caught the words and paused, his gaze resting for an instant upon the group. A faint smile rested upon his rather harshly drawn