I TRACED THE LETTERS ON SEVERAL COPIES TO MAKE IT EASIER TO READ. HERE ARE TWO OF THEM. IT SAYS:
I am writing you this letter to inform you that I have looked into every facet of information, traced each clue to its ultimate and back again. In all I must tell you, that I can find no reason to believe that any gold of the amount you name exists, if you will read each line that I have written you will know this is true.
I am recommending no further investigation be held. I?m enclosing a copy of the code you sent me. I have worked over it for the last 3 years. I can find no way that it can be broken.
There never has been any gold lost or stolen in your area of that large amount en it is highly unlikely that it would go unreported. I must say it is all a hoax, you should drop the search you are only wasting your time.
Very Truly Yours
B.L. Few D. Sargent Pinkerton