The warning came too late.

Before Nancy Drew could turn, the butt of a revolver crashed down upon her head. With a low moan of pain, she sagged to the floor and lay still.

How long she remained unconscious, she did not know, but when at last she opened her eyes she found herself stretched out on the cold floor of the cellar. She was bewildered and for a minute could not account for the splitting pain in her head.

Then with a shudder she remembered what had happened. She had been struck down from behind. Who was her assailant?

Nancy became aware that someone was standing over her, but objects whirled before her eyes and she could not distinguish the face. Then, abruptly, her vision cleared. She saw Stumpy Dowd gazing down upon her gloatingly.

“You!” she gasped.

The man leered unpleasantly.

“Thought you were going to catch me, did you? Well, you have another thought coming this time!”

He reached over, and, catching her by the arm, jerked her roughly to her feet. Nancy was so weak that she nearly fell.

“What are you going to do?” she whispered.

“You’ll find out soon enough,” Stumpy sneered, as he held up a long rope. “I’m going to tie you up and leave you here. You and your friend have so much to say to each other!”

“Let that girl go,” Jacob Aborn pleaded from the other side of the room. “Do anything you like to me, but set her free.”

“Shut up!” Stumpy growled. “I’ll do plenty to both of you before I get through!”

Nancy was too weak to struggle, and she was aware that resistance would be useless. One glance at the murderous weapon in Stumpy’s hand had convinced her of that. He was ruthless and unprincipled, and would think nothing of shooting her down if she made a break for the stairway.

Yet, as Stumpy began to tie her feet together with the stout rope, she realized she must do something. If only her head would stop throbbing so that she could think clearly! The situation was a desperate one. Unless she thought quickly there would be no escape.

Then, suddenly, an idea came to her. She recalled that a detective who had called on her father only a few months before had entertained them by telling of his various experiences with criminals. He had explained how it was possible to hold one’s hands while being bound, so as to slip the bonds later. Nancy had been interested, and had pressed the detective for details. He had taken a stout piece of cord and had given her a demonstration. At the time she had thought the trick a very clever one. Little dreaming that the knowledge would ever prove useful, she had made no effort to remember how the hands must be held. Now, she frantically tried to recall what the detective had told her. If only the trick would work!

Holding her wrists in what she believed was the correct position, she permitted Stumpy to bind them securely. The ropes cut into her flesh cruelly. It seemed to her that she must have made a mistake, for certainly there was little space between her wrists and the bonds.

“And now, just to make sure you won’t get away⁠—” Stumpy muttered evilly.

He took the end of the rope and ran it through a ring in the wall, knotting it fast.

“I guess that will hold you for a while,” he leered.

“You beast!” Nancy cried.

She realized now what Stumpy intended to do, but she was too proud to beg for mercy.

“This will teach you not to meddle in affairs that are none of your business!”

“You’ll pay for this!” Jacob Aborn cried in a quavering voice. “If I get free⁠—”

“If you get free! That’s good!” Stumpy laughed harshly. Then a cruel look settled over his face and his eyes narrowed. “Why, you old fool, you’ll stay here until the rats get you!”

“This isn’t the time of the inquisition!” Nancy declared fiercely. “You can’t get away with murder!”

“Murder? Who said anything about murder? What a harsh word! I’ll just leave you and your friend here and go away. If anything happens⁠—” Dowd shrugged his shoulders indifferently.

“The police will be after you in a day!” Jacob Aborn cried.

“Oh, no they won’t. Stumpy is nobody’s fool. I’ll cover up my trail.”

“You think you will,” Nancy informed him, “Every criminal thinks he’ll escape.”

“And I will too,” Stumpy boasted. “I’m too clever to be caught. Oh, I guess I’ve put over my little scheme pretty slick. Not a person suspected that I wasn’t the real Jacob Aborn.”

“Then you admit your guilt?” Nancy demanded.

Stumpy regarded her appraisingly.

“You’re a smart detective, but your smartness won’t do you any good this time! I don’t mind admitting I pulled the deal single handed, because you’ll never get out of here to squeal on me.”

As neither Jacob Aborn or Nancy Drew made a response, he continued boastingly.

“I’m all fixed for my getaway tonight. Would have waited until tomorrow if you hadn’t come nosing into my business.” He glared at Nancy. “I’ve cashed in all the Pendleton property, and my suitcases are packed. When I leave here, I’ll get them and beat it in a new racing car I bought today. I’d like to see the police or anyone catch me, once I get started!”

“You’ll pay for it some day!” Jacob Aborn cried angrily. “Robbing an orphan! I’m thankful poor Laura is out of your clutches.”

“Oh, you think she is, do you?” Stumpy laughed evilly. “Well, let me tell you I know where she’s hiding.”

A look of horror came into Mr. Aborn’s eyes, for his one consolation had been the thought that his ward was safe.

“I heard you two talking,” Stumpy informed them. “I found out she’s in River Heights, and I’m going there tonight!”

“Don’t you dare harm Laura Pendleton!”

In spite of his condition, Jacob Aborn struggled in his chains, attempting to attack Stumpy. With one blow, the scoundrel sent him reeling against the wall.

“I don’t care what becomes of that ward of yours,” he snarled. “It’s the jewels I want. I’ll fix Laura for sneaking away with them.”

“If you try to kidnap Laura you’ll have my father to deal with,” Nancy promised. “He’s a criminal lawyer!”

“A criminal lawyer, eh? Well, I may take a shot at him just for luck.”

As Stumpy spoke, he caught sight of an object on the floor. It was the key to the padlock on Aborn’s chains. When Nancy had fallen, it had slipped from her hand.

“Well, I’ll just take it with me,” he announced gleefully, as he picked it up.

As he was about to thrust it into his pocket, another thought came to him. He hung it on a nail, far out of the reach of the two prisoners.

“You can look at it until you rot,” he told them.

Turning, he started to leave the cellar. Halfway across the room, he came back and stood gloating down upon Nancy.

“You thought you were so clever, sneaking into my house and spying on me. You the daughter of a brilliant lawyer! Well, let me tell you something⁠—you overlooked one important detail.”

Nancy stared blankly at Stumpy. She was at a loss to know how she had given herself away.

“The next time you’ll remember to muffle the engine of your automobile when you leave!” He gave a hollow laugh which echoed through the place. “The next time!”

“You fiend!” Jacob said fiercely.

“Thank you for the compliment,” Stumpy made an elaborate bow. “And now, I fear I must say goodbye. Too bad you can’t come with me. I shall live high in some other country.”

With another mocking bow, he turned and left the two prisoners. They heard him stumble up the stairway and slam the door at the top.