“If you were a paper expert you would observe that the paper used in the two tickets is different.  There is not a very great difference, and I am inclined to think that both the genuine and the counterfeit tickets were made on paper from the same mill, but of a different ‘run.’  That is, it was made at a different time.

“The printer who manufactured your tickets bought his paper from a certain mill making a specialty of this particular kind.  Then some one, who must know something of your financial and business interests, had the bogus tickets made, and on the same kind of paper.  But there is a slight difference, which I was able to detect by means of chemical reactions.  The coloring matter used varied slightly, though the texture of the two kinds of paper is almost exactly similar.

“Now, having settled that point, the solution of the remaining equations of the problem rests with you.  I can not tell who had the bogus tickets printed.  You will have to go to the mill making the paper and find out to whom they sold this kind.  In that way you will learn the names of all printers, using it, and by a process of elimination you will get at the one who printed the counterfeits.

“This printer may be an innocent party, or he may be guilty.  That is for you and the detectives to determine.  I hope I have started you on the right track.  I shall be interested to hear, my dear Mr. Strong, how you make out in your fire-eating act.”

“I’ll tell him as soon as I try it on a real audience,” said Joe, with a smile, as he folded the letter.  “And so counterfeit tickets have been rung in on us!  Well, I suspected that, since our own men were thoroughly to be trusted.  Now to get at the guilty ones.  And I shouldn’t be surprised if I could name one of the men involved.  But I’ll call a meeting, and lay this before the directors.”

The Sampson Brothers’ Show was incorporated and was run strictly on business lines.  There was a board of directors who looked after all business matters, and Joe was soon in consultation with them, laying before them Mr. Waldon’s letter and the two marked tickets.

“It would take an expert to tell them apart,” said Mr. Moyne, as he examined the coupons closely.  “Well, what are we to do?”

“In the first place,” declared Joe, “we must change our form of general admission tickets at once.  That will stop the fraud, graft, or whatever you want to call it.  Then we must do as Mr. Waldon says—­look for the guilty parties.  We’ll have to hire some detectives, I think.”

This plan was voted a good one, and steps were at once taken to change the form and style of the general admission tickets.  Joe also wired for a man from a well known detective agency to meet the show at the next town.  Then the printing shop which made the circus tickets was communicated with.

That was all that could be done at present, and Joe gave his attention to perfecting his new fire-eating act.