The other contents consisted of a dozen sheets of blank paper, each of the size of a Bank of England note. But they were not quite blank, for each bore an elaborate watermark, identical with that of a twenty-pound bank note. They were, in fact, the “paper blanks” of which Purcell had spoken. The envelope with its contents had been slipped into his hand by Purcell, without remark, only three days ago.

Varney refolded the “blanks,” enclosed them within the letter and slipped letter and “blanks” together into the stamped envelope, the flap of which he licked and reclosed.

“I should like to see old Penfield’s face when he opens that envelope” was his reflection as, with a grim smile, he put it away in his pocketbook. “And I wonder what he will do,” he added, mentally; “however, I shall see before many days are over.”

Varney looked at his watch. He was to meet Jack Rodney on Penzance Pier at a quarter to three. He would never do it at this rate, for when he opened Mount’s Bay, Penzance would be right in the wind’s eye. That would mean a long beat to windward. Then Rodney would be there, first, waiting for him. Deuced awkward this. He would have to account for his being alone on board; would have to invent some lie about having put Purcell ashore at Mousehole or Newlyn. But a lie is a very pernicious thing. Its effects are cumulative. You never know when you have done with it. Apart from moral considerations, lies should be avoided at all cost of present inconvenience; that is unless they are absolutely unavoidable; and then they should be as probable as can be managed, and not calculated to provoke inquiry. Now, if he had reached Penzance before Rodney, he need have said nothing about Purcell—for the present, at any rate; and that would have been so much safer.

When the yacht was about abreast of Lamorna Cove, though some seven miles to the south, the breeze began to draw ahead and the fog cleared off quite suddenly. The change of wind was unfavourable for the moment, but when it veered round yet a little more until it blew from east-north-east, Varney brightened up considerably. There was still a chance of reaching Penzance before Rodney arrived; for now, as soon as he had fairly opened Mount’s Bay, he could head straight for his destination and make it on a single board.

Between two and three hours later, the Sandhopper entered Penzance Harbour, and, threading her way among an assemblage of luggers and small coasters, brought up alongside the Albert pier at the foot of a vacant ladder.

Having made the yacht fast to a couple of rings, Varney divested himself of his oilskins, locked the cabin scuttle and climbed the ladder. The change of wind had saved him after all and, as he strode away along the pier he glanced complacently at his watch. He still had nearly half an hour to the good.

He seemed to know the place well and to have a definite objective, for he struck out briskly from the foot of the pier into Market Jew Street and from thence by a somewhat zig-zag route to a road which eventually brought him out about the middle of the Esplanade. Continuing westward, he entered the Newlyn Road along which he walked rapidly for about a third of a mile, when he drew up opposite a small letter-box which was let into a wall. Here he stopped to read the tablet on which was printed the hours of collection and then, having glanced at his watch, he walked on again but at a less rapid pace.

When he reached the outskirts of Newlyn he turned and began slowly to retrace his steps, looking at his watch from time to time with a certain air of impatience. Presently a quick step behind him caused him to look round. The newcomer was a postman, striding along, bag on shoulder, with the noisy tread of a heavily-shod man and evidently collecting letters. Varney let him pass; watched him halt at the little letter-box, unlock the door, gather up the letters and stow them in his bag; heard the clang of the iron door and finally saw the man set forth again on his pilgrimage. Then he brought forth his pocketbook and drawing from it the letter addressed to Joseph Penfield, Esq., stepped up to the letter-box. The tablet now announced that the next collection would be at 8.30 p.m.

Varney read the announcement with a faint smile, glanced again at his watch, which stood at two minutes past four, and dropped the letter into the box.