"What has dampened your hopes?"

"You are too cool for a man who has found the letter."

"I am?"

"Yes."

There came a smile to the detective's face, a smile that was thrilling in its suggestiveness, as he laid the letter on the table and said:

"Well, I have found something; you can tell what it is; look at it. No need to search now; I think the search is over."

Mr. Townsend advanced, seized the letter, and his face was ashen as he exclaimed, while trembling like one with ague:

"That is it."

"I thought so," said the detective.

"Yes, that is the letter."