“Well,” he said, “this certainly does look as if we were getting warm. But I must confess that the whole thing is too complicated for me. Why should this thing be allowed to turn up just now? I should think they would have done better to keep the letter altogether.”

Even as he spoke, Jim’s landlady appeared in the door and announced that a man was asking for Phillips.

“He’s a post-office inspector, sir,” she said.

The three Yale men exchanged quick glances.

“Show him in,” said Jim quietly, and in a moment the inspector, a dark, keen-looking man, appeared.

“I was in town on some other business,” said he, “and the postmaster asked me to investigate the matter of a missing registered letter.”

“I don’t see how the post-office department is concerned,” said Dick. “The receipt was duly signed, which shows that the letter carrier did his duty. The responsibility of the department ceases with the safe delivery of the package.”

“Y-e-es,” said the inspector, a little doubtfully. “But I understand that Mr. Phillips says he did not actually receive the letter. The mail carrier says he delivered it personally, and, therefore, the postmaster has been rather annoyed by the implication that some misuse of the mails has been made.”

“I don’t know who has implied that,” said Dick. “However, it makes no difference. The letter has just been found. Good day.”

The inspector looked annoyed.