Inej would find her own way in. The rules of fair play among the gangs were from Per Haskell’s time. Besides, she was the Wraith—the only law that applied to her was gravity, and some days she defied that, too.

The lower level of the Exchange was dedicated to windowless warehouses, so Inej located a drainpipe to shinny up. Something made her hesitate before she wrapped her hand around it. She drew a bonelight from her pocket and gave it a shake, casting a pale green glow over the pipe. It was slick with oil. She followed the wall, seeking another option, and found a stone cornice bearing a statue of Kerch’s three flying fishes within reach. She stood on her toes and tentatively felt along the top of the cornice. It had been covered in ground glass. I am expected, she thought with grim pleasure.

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She’d joined up with the Dregs less than two years ago, just days after her fifteenth birthday. It had been a matter of survival, but it gratified her to know that, in that short time, she’d become someone to take precautions against. Though, if the Black Tips thought tricks like this would keep the Wraith from her goal, they were sadly mistaken.

She drew two climbing spikes from the pockets of her quilted vest and wedged first one then the other between the bricks of the wall as she hoisted herself higher, her questing feet finding the smallest holds and ridges in the stone. As a child learning the high wire, she’d gone barefoot. But the streets of Ketterdam were too cold and wet for that. After a few bad spills, she’d paid a Grisha Fabrikator working in secret out of a gin shop on the Wijnstraat to make her a pair of leather slippers with nubbly rubber soles. They were perfectly fitted to her feet and gripped any surface with surety.

On the second story of the Exchange, she hoisted herself onto a window ledge just wide enough to perch on.

Kaz had done his best to teach her, but she didn’t quite have his way with breaking and entering, and it took her a few tries to finesse the lock. Finally she heard a satisfying click, and the window swung open on a deserted office, its walls covered in maps marked with trade routes and chalkboards listing share prices and the names of ships. She ducked inside, refastened the latch, and picked her way past the empty desks with their neat stacks of orders and tallies.

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She crossed to a slender set of doors and stepped onto a balcony that overlooked the central courtyard of the Exchange. Each of the shipping offices had one. From here, callers announced new voyages and arrivals of inventory, or hung the black flag that indicated that a ship had been lost at sea with all its cargo. The floor of the Exchange would erupt into a flurry of trades, runners would spread the word throughout the city, and the price of goods, futures, and shares in outgoing voyages would rise or fall. But tonight all was silence.

A wind came in off the harbor, bringing the smell of the sea, ruffling the stray hairs that had escaped the braided coil at the nape of Inej’s neck. Down in the square, she saw the sway of lamplight and heard the thump of Kaz’s cane on the stones as he and his seconds made their way across the square. On the opposite side, she glimpsed another set of lanterns heading toward them. The Black Tips had arrived.

Inej raised her hood. She pulled herself onto the railing and leapt soundlessly to the neighboring balcony, then the next, tracking Kaz and the others around the square, staying as close as she could. His dark coat rippled in the salt breeze, his limp more pronounced tonight, as it always was when the weather turned cold. She could hear Jesper keeping up a lively stream of conversation, and Big Bolliger’s low, rumbling chuckle.

As she drew nearer to the other side of the square, Inej saw that Geels had chosen to bring Elzinger and Oomen—exactly as she had predicted. Inej knew the strengths and weaknesses of every member of the Black Tips, not to mention Harley’s Pointers, the Liddies, the Razorgulls, the Dime Lions, and every other gang working the streets of Ketterdam. It was her job to know that Geels trusted Elzinger because they’d come up through the ranks of the Black Tips together, and because Elzinger was built like a stack of boulders—nearly seven feet tall, dense with muscle, his wide, mashed-in face jammed low on a neck thick as a pylon.

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