stensibly friendly
message beginning with a word of four letters, that word is _dear_,
and we've two important vowels to start with. We know the letter was
addressed to Brunell, from an old partner in crime. We will assume,
therefore, that the two words of three letters each, following _dear_
are either _old Jim_, _old man_, or _old boy_. Let us see how it works
out."

The detective scribbled hastily on a pad for several minutes, then
leaned back in his chair, with a sigh of satisfaction.

"It can only be _boy_," he announced. "That gives us a working start
of eight letters. Add to that the fact that this character is printed
twice consecutively in three different places"--he pointed to the
figure =[.= as he spoke--"which confirms the supposition that it is
_l_, and you have this result immediately."

Blaine handed the pad across to Morrow, who read eagerly:

_Dear Old Boy._

_B-- -o-ey -o---- -o yo- -ro- old --ore le-- ---a-d --a- ---y
--are -or -olle----- -or yo--o r--- --ll -all o- yo- ---r-day
a- -o-r -e-._

The operative started to speak, but checked himself, and listened
while Henry Blaine went on slowly but steadily.

"Each letter gained helps us to others, you see, Guy. For instance
_-o-ey_ must be _money_; the character following _yo_ three times in
different places must be _u_; the word _---r-day_ can only be
_Thursday_; _-all_ is _call_; _a-_ is _at_; and _-o-r_ is _four_. That
gives us eight more letters, and makes the message read like this."
Blaine wrote it down and handed the result to Morrow, who read:

_Dear Old Boy._

_B-- money com-n- to you from old score left un-a-d -hat -s my
share for collect-n- for you? No ris- --ll call on you
Thursday at four. -en._

"It looks easy, now," admitted Morrow. "But I never should have
thought of going about it that way. I suppose the sixth word is
_coming_. That gives us _i_ and _g_."

"Right you are," Blaine chuckled. "Knowing, too, that the message came
from Walter Pennold, we can safely assume that _-en_ is _Pen_. Use
your common sense alone, now, and you will find that the message
reads: 'Dear old boy. Big money coming to you from old score left
unpaid. What is my share for collecting for you? No risk. Will call on
you Thursday at four. Pen.'

"The word _risk_ was misspelled _risl_. Evidently Pennold was a little
bit rusty in the use of the old code. Our bait landed the fish all
right, Guy. The money we planted in