these people are German agents of whom he is the guiding spirit and
paymaster, and among whom he is all-powerful. Payment is made through
him for all confidential services rendered to the Fatherland."

"And the police do not suspect it?"

"My dear fellow, have not the police received orders from our Government
to close their eyes to the doings of these gentry? England is the
paradise of the spy, and will remain so until we can bring pressure to
bear to compel the introduction of fresh legislation against them."

Soon after half-past ten a taxi-cab deposited us in Sloane Street, and
together we turned into Pont Street, walking leisurely past a
medium-sized red-fronted house approached by a flight of steps leading
to a deep portico. There was a light in the first-floor window of what
was evidently the drawing-room but the rest of the house of the arch-spy
of Germany was in darkness.

As we passed the house, my friend examined its highly respectable
exterior. Then we passed on to the end of the thoroughfare, in order to
attract no attention. A constable passed us, and in order to avoid being
noticed we walked together for some distance. Presently, however, Ray
turned back, and gaining the house adjoining Hartmann's, ran swiftly up
the steps into the shadow of the portico, I following at his heels.

In a few seconds he had opened the door with a latch-key he carried in
his hand, and next moment we were within the wide, echoing hall, for the
house was empty, and to let.

"I called upon the agent, and had a look over this place a few days
ago," he explained. "On that occasion, I had the key in my hand for a
moment, and obtained an impression of it," and switching on his electric
torch he showed the square hall with the flight of stairs ascending from
it.

Gaining the big drawing-room, Ray crossed to the long French window on
the left and gazed cautiously out upon the street below.

As he did so I noticed the figure of a man in a dark overcoat and felt
hat cross from the opposite pavement and ascend the stairs of the house
next door. Ray glanced at his watch, which he could see by the light of
the street lamp outside. Noticing the time, he became reassured.

"You see, Jack, that from here runs a balcony leading to that of
Hartmann's house. We must creep along it and try and get a peep of our
friend at home. I've watched that drawing-room window for a long time,
and I believe that he makes it his business room."

Car