Jake Forner was a mild-looking creature whose face gave no true indication of the man behind it. He was broad and angular, with shoulders that looked sizes too big for the rest of his body. He was clean-shaven, with the wide brow and big dark eyes of the student. But his mouth and jaws were firmly set and suggested possibilities.

“It’s an open letter,” he said, “and it was handed in by a kid I just didn’t seem to rec’nise. I didn’t feel like worrying you with it till I opened it, then I guessed I’d best pass it in to you right away.”

He came over to the desk and held out an open sheet of paper, while his dark eyes closely scrutinised the smiling features of his employer.

Booker took the paper without interest for all the other’s quietly impressive manner. He glanced at the open sheet casually, and, in a moment, his attention became profoundly absorbed.

Jake Forner was watching him. His eyes had something in them that suggested smiling thought behind them. He was noting his employer’s expression and saw it change rapidly from its habitual smile to complete seriousness, and, finally, to something that seemed to suggest anger not undriven by alarm.

It was a curious document, littered with a scrawling writing made up of rough block capital letters and evidently indited by some rough instrument, possibly a piece of sharpened wood. The lettering was red and at the bottom of it, underneath the signature, was the rough outline of a skull and crossbones, a flamboyant, melodramatic finish that might well have inspired derision. But somehow, the thing inspired nothing of the sort in the mind of the man to whom it was addressed. He read it carefully:

Bad Booker,

You are trying to steal a city block from a helpless client. You have a mortgage on it for two thousand dollars. You are offering two thousand dollars more to wipe out the mortgage and possess the lot. The lowest market value of the property is ten thousand dollars. You will pay the difference between your mortgage and ten thousand dollars, namely, eight thousand dollars for the site. You have twenty-four hours in which to make a written offer of this amount. If you fail to do this, and to complete the deal in one week from this date, you will be hanged on the site in question.

Sgd. Chief Light of the Aurora.