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The accompanying photograph revealed rather. more than the spineless mugshot in Who's Who. Ko looked jolly, even exuberant, and he appeared, despite his hat, to be hairless. The hat was at this stage the most interesting thing about Ko, for it was one which no Chinese, in Jerry's limited experience, had ever been seen to wear. It was a beret, worn sloping, and putting Ko somewhere between a British soldier and a French onion seller. But above all, it had for a Chinese the rarest quality of alclass="underline" self mockery. He was apparently tall, he was wearing a Burberry, and his long hands stuck out of the sleeves like twigs. He seemed genuinely to like the horse, and one arm rested easily on its back. Asked why he still ran a junk fleet when these were commonly held to be unprofitable, he replied: 'My people are Hakka from Chiu Chow. We breathed the water, farmed the water, slept on the water. Boats are my element.' He was fond also of describing his journey from Shanghai to Hong Kong in 1951. At that time the border was still open and there were no effective restrictions on immigration. Nevertheless, Ko chose to make the trip by fishing junk, pirates, blockades and bad weather notwithstanding: which was held at the very least to be eccentric.

'I'm a very lazy fellow,' he was reported as saying. 'If the wind will blow me for nothing, why should I walk? Now I've got a sixty-foot cruiser but I still love the sea.'

Famous for his sense of humour, said the article.

A good agent must have entertainment value, say the Sarratt bearleaders: that was something Moscow Centre also understood.

There being no one watching, Jerry ambled over to the card index and a few minutes later had taken possession of a thick folder of presscuttings, the bulk of which concerned a share scandal in 1965, in which Ko and a group of Swatownese had played a shady part. The Stock Exchange enquiry, not surprisingly, proved inconclusive and was shelved. The following year Ko got his OBE. 'If you buy people,' old Sambo used to say, 'buy them thoroughly.'

In Luke's bureau they kept a bunch of Chinese researchers, among them a convivial Cantonese named Jimmy who often appeared at the Club and was paid at Chinese rates to be the oracle on Chinese matters. Jimmy said the Swatownese were a people apart, 'like Scots or Jews', hardy, clannish and notoriously thrifty, who lived near the sea so that they could run for it when they were persecuted or starving or in debt. He said their women were sought after, being beautiful, diligent, frugal and lecherous.

'Writing yourself another novel, your lordship?' the dwarf asked endearingly, coming out of his office to find out what Jerry was up to. Jerry had wanted to ask why a Swatownese should have been brought up in Shanghai, but he thought it wiser to bend course toward a less delicate topic.

Next day, Jerry borrowed Luke's battered car. Armed with a standard-size thirty-five millimetre camera he drove to Headland Road, a millionaire's ghetto between Repulse Bay and Stanley, where he made a show of rubbernecking at the outside of the villas there, as many idle tourists do. His cover story was still that feature for Stubbs on the Hong Kong super-rich: even now, even to himself, he would scarcely have admitted to going there on account of Drake Ko.

'He's raising Cain in Taipei,' Craw had told him casually in one of their limbo calls. 'Won't be back till Thursday.' Once again, Jerry accepted without question Craw's lines of communication.

He did not photograph the house called Seven Gates, but he took several long, stupid gazes at it. He saw a low, pantiled villa set well back from the road, with a big verandah on the seaward side and a pergola of white-painted pillars cut against the blue horizon. Craw had told him that Drake must have chosen the name because of Shanghai, whose old city walls were pierced with seven gates: 'Sentiment, my son. Never underrate the power of sentiment upon a slanteye, and never count on it either. Amen.' He saw lawns, including to his amusement a croquet lawn. He saw a fine collection of azaleas and hibiscus. He saw a model junk about ten feet long set on a concrete sea, and he saw a garden bar, round like a bandstand, with a blue and white striped awning over it, and a ring of empty white chairs presided over by a boy in a white coat and trousers and white shoes. The Ko's were evidently expecting company. He saw other houseboys washing a tobacco-coloured Rolls-Royce Phantom saloon. The long garage was open, and he recorded a Chrysler station-wagon of some kind, and a Mercedes, black, with the licence plates removed, presumably as part of some repair. But he was meticulous about giving equal attention to the other houses in Headland Road and photographed three of them.

Continuing to Deep Water Bay he stood on the shore gazing at the small armada of stockbroker junks and launches which bobbed at anchor on the choppy sea, but was not able to pick out Admiral Nelson, Ko's celebrated ocean-going cruiser - the ubiquity of the name Nelson was becoming positively oppressive. About to give up, he heard a cry from below him, and walking down a rickety wooden causeway found an old woman in a sampan grinning up at him and pointing to herself with a yellow chicken's leg she had been sucking with her toothless gums. Clambering aboard he indicated the boats and she took him on a tour of them, laughing and chanting while she sculled, and keeping the chicken leg in her mouth. Admiral Nelson was sleek and low-lined. Three more boys in white ducks were diligently scouring the decks. Jerry tried to calculate Ko's monthly housekeeping bill, just for staff alone.

On the drive back, he paused to examine the Drake Ko Free Hospital for Children and established, for what it was worth, that that too was in excellent repair. Next morning early, Jerry placed himself in the lobby of a chintzy highrise office building in Central, and read the brass plates of the business companies housed there. China Airsea and its affiliates occupied the top three floors, but somewhat predictably there was no mention of Indocharter, Vientiane SA, the former recipient of twenty-five thousand US dollars on the last Friday of every month.

The cuttings folder in Luke's bureau had contained a cross-reference to US Consulate archives. Jerry called there next day, ostensibly to check out his story on the American troops in Wanchai. Under the eye of an unreasonably pretty girl, Jerry drifted, picked at a few things, then settled on some of the oldest stuff they had, which dated from the very early Fifties when Truman had put a trade embargo on China and North Korea. The Hong Kong Consulate had been ordered to report infringements, and this was the record of what they had unearthed. The favourite commodity, next to medicines and electrical goods, was oil, and 'the United States Agencies', as they were styled, had 'gone for it in a big way, setting traps, putting out gun boats, interrogating defectors and prisoners, and finally placing huge dossiers before Congressional and Senate Sub-Committees.

The year in question was 1951, two years after the Communist takeover in China and the year Ko sailed to Hong Kong from Shanghai without a cent to his name. The operation to which the bureau's reference directed him was Shanghainese, and to begin with, that was the only connection it had with Ko. Many Shanghainese immigrants in those days lived in a crowded, insanitary hotel on the Des Voeux Road. The introduction said that they were like one enormous family, welded together by shared suffering and squalor. Some had escaped together from the Japanese before escaping from the Communists.

'After enduring so much at Communist hands,' one culprit told his interrogators, 'the 1east we could do was make a little money out of them.'

Another was more aggressive. 'The Hong Kong fat-cats are making millions out of this war. Who sells the Reds their electronic equipment, their penicillin, their rice?'

In fifty-one there were two methods open to them, said the report. One was to bribe the frontier guards and truck the oil across the New Territories and over the border. The other was taking it by ship, which meant bribing the harbour authorities.

An informant again: 'Us Hakka know the sea. We find boat, three hundred tons, we rent. We fill with drums of oil, make false manifest and false destination. We reach international waters, run like hell for Amoy. Reds call us brother, profit one hundred per cent. After a few runs we buy boat.'

'Where did the original money come from?' the interrogator demanded.

'Ritz Ballroom,' was the disconcerting answer. The Ritz was a high-class pick-up spot right down the King's Road on the waterfront, said a footnote. Most of the girls were Shanghainese. The same footnote named members of the gang. Drake Ko was one.

'Drake Ko was very tough boy,' said a witness's statement given in fine print in the appendix. 'You don't tell no fairy story to Drake Ko. He don't like politician people one piece. Chiang Kaishek. Mao. He say they all one person. He say he big supporter of Chiang Mao-shek. One day Mr Ko lead our gang.'

As to organised crime, the investigation turned up nothing. It was a matter of history that Shanghai, by the time it fell to Mao in forty-nine, had emptied three quarters of its underworld into Hong Kong; that the Red Gang and the Green Gang had fought enough battles over the Hong Kong protection rackets to make Chicago in the twenties look like child's play. But not a witness could be found who admitted to knowing anything about Triads or any other criminal outfit.

Not surprisingly, by the time Saturday came round and Jerry was on his way to Happy Valley races, he possessed quite a detailed portrait of his quarry.

The taxi charged double because it was the races and Jerry paid because he knew it was the form. He had told Craw he was going and Craw had not objected. He had brought Luke along for the ride, knowing that sometimes two are less conspicuous than one. He was nervous of bumping into Frost, because roundeye Hong Kong is a very small city indeed. At the main entrance he telephoned the management to raise some influence, and in due course a Captain Grant appeared, a young official to whom Jerry explained that this was work: he was writing the place up for the comic. Grant was a witty, elegant man who smoked Turkish cigarettes through a holder, and everything Jerry said seemed to amuse him in a fond, if rather remote way.

'You're the son, then,' he said finally.

'Did you know him?' said Jerry, grinning.

'Only of him,' Captain Grant replied, but he seemed to like what he had heard.

He gave them badges, and offered them drinks later. The second race was just over. While they talked, they heard the roar of the crowd set-to and rise and die like an avalanche. Waiting for the lift Jerry checked the noticeboard to see who had taken the private boxes. The hardy annuals were the Peak mafia: The Bank - as the Hong Kong and Shanghai Bank liked to call itself - Jardine Matheson, the Governor, the Commander, British Forces. Mr Drake Ko, OBE, though a Steward of the Club, was not among them.