"I cannot make head or tail of it. It seems plain enough to read, but makes nonsense. Come over here and see for yourself."

I bent over his shoulder, and this is what I saw—

The edge of the clasp was engraved with a border of flowers and beasts, all exquisitely small. Within this was cut, by a much rougher hand, an inscription which was plain enough to read, though making no sense whatever. The writing was arranged in five lines of three words apiece, and ran thus:—

MOONENDSOUTH
N.N.W.22FEET
NORTHSIDE 4
DEEPATPOINT
WATER 1.5HOURS

I read the words a full dozen times, and then, failing of any interpretation, turned to Uncle Loveday—

"Jasper," said he, "to my mind those words make nonsense."

"And to mine, uncle."

"Now attend to me, Jasper. This is evidently but one half of the clasp which your father discovered. That's as plain as daylight. The question is, what has become of the other half, of the hook that should fit into this eye? Now, what I want you to do is to try and remember if this was all that the man Railton gave you."

"This was all."

"You are quite certain?"