The controversy would have lasted for a much longer time, but, on the twelfth day, Mon. Gerbois received from Arsène Lupin a letter, marked “confidential,” which read as follows:

“Monsieur, the gallery is being amused at our expense. Do you not think it is time for us to be serious? The situation is this: I possess a ticket to which I have no legal right, and you have the legal right to a ticket you do not possess. Neither of us can do anything. You will not relinquish your rights to me; I will not deliver the ticket to you. Now, what is to be done?
“I see only one way out of the difficulty: Let us divide the spoils. A half-million for you; a half-million for me. Is not that a fair division? In my opinion, it is an equitable solution, and an immediate one. I will give you three days’ time to consider the proposition. On Thursday morning I shall expect to read in the personal column of the Echo de France a discreet message addressed to M. Ars. Lup, expressing in veiled terms your consent to my offer. By so doing you will recover immediate possession of the ticket; then you can collect the money and send me half a million in a manner that I will describe to you later.
“In case of your refusal, I shall resort to other measures to accomplish the same result. But, apart from the very serious annoyances that such obstinacy on your part will cause you, it will cost you twenty-five thousand francs for supplementary expenses.
“Believe me, monsieur, I remain your devoted servant,

ARSÈNE LUPIN.”

In a fit of exasperation Mon. Gerbois committed the grave mistake of showing that letter and allowing a copy of it to be taken. His indignation overcame his discretion.

“Nothing! He shall have nothing!” he exclaimed, before a crowd of reporters. “To divide my property with him? Never! Let him tear up the ticket if he wishes!”

“Yet five hundred thousand francs is better than nothing.”

“That is not the question. It is a question of my just right, and that right I will establish before the courts.”

“What! attack Arsène Lupin? That would be amusing.”

“No; but the Crédit Foncier. They must pay me the million francs.”

“Without producing the ticket, or, at least, without proving that you bought it?”