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 patiently aside. There only remained an envelope with some small newspaper slips inside it. He shook them out on the table, and at once I saw by his eager face that his hopes had been raised.

“What's this, Watson? Eh? What's this? Record of a series of messages in the advertisements of a paper. Daily Telegraph agony column by the print and paper. Right-hand top corner of a page. No dates—but messages arrange themselves. This must be the first:

“‘Hoped to hear sooner. Terms agreed to. Write fully to address given on card.—Pierrot.’

“Next comes: ‘Too complex for description. Must have full report. Stuff awaits you when goods delivered.—Pierrot.’

“Then comes ‘Matter presses. Must withdraw offer unless contract completed. Make appointment by letter. Will confirm by advertisement.—Pierrot.’

“Finally: ‘Monday night after nine. Two taps. Only ourselves. Do not be so suspicious. Payment in hard cash when goods delivered.—Pierrot.’

“A fairly complete record, Watson! If we could only get at the man at the other end!” He sat lost in thought, tapping his fingers on the table. Finally he sprang to his feet.

“Well, perhaps it won’t be so difficult after all. There is nothing more to be done here, Watson.