This letter was evidently written by fragmentary portions, as though it had been done at intervals. Some parts were written leisurely--others apparently in haste. The first half had been written evidently with the greatest ease. The writing of the last half showed weakness and tremulousness of hand; many words would have been quite illegible to one not familiar with the handwriting of the old man. Sometimes the word was written two or three times, and there were numerous blots and unmeaning lines. It grew more and more illegible toward the close. Evidently it was the work of one who was but ill able to exert even sufficient strength to hold a pen in his trembling hand. In this letter there was folded a large piece of coarse paper, evidently a blank leaf torn from a book, brown with age, which was worn at the folds, and protected there by pieces of cotton which had been pasted upon it. The paper was covered with writing, in ink that was much faded, though still quite legible. Opening this Brandon read the following: [Illustration: Facsimile of handwritten page reading: “One league due northe of a smalle islet northe of the Islet of Santa Cruz northe of San Salvador----I Ralphe Brandon in my shippe Phoenix am becalmed and surrounded by a Spanish fleete----My shippe is filled with spoyle the Plunder of III galleons----wealth which myghte purchase a kyngdom-tresure equalle to an Empyr’s revenue----Gold and jeweles in countless store----and God forbydde that itt shall falle into the hands of the Enemye----I therefore Ralphe Brandon out of mine owne good wyl and intente and that of all my men sink this shippe rather than be taken alyve----I send this by my trusty seaman Peter Leggit who with IX others tolde off by lot will trye to escape in the Boate by nighte----If this cometh haply into the hands of my sonne Philip let him herebye knowe that in this place is all this tresure----which haply may yet be gatherd from the sea----the Islet is knowne by III rockes that be pushed up like III needles from the sande. “Ralphe Brandon”] CHAPTER II. A LIFE TRAGEDY. Not a word or a gesture escaped Brandon during the perusal, but after he had finished he read the whole through twice, then laying it down, he paced up and down the room. His olive skin had become of a sickly tawny hue, his eyes glowed with intense lustre, and his brow was covered with those gloomy Napoleonic clouds, but not a nerve was shaken by the shock of this dread intelligence. Evening came and night; and the night passed, and morning came, but it found him still there pacing the room. Earlier than usual next morning he was at the office, and waited for some time before the senior partner made his appearance. When he came in it was with a smile on his face, and a general air of congratulation to all the world.