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Holmes explains the watermark’s abbreviated German words for company and paper, then looks up the remaining letters in a gazetteer. He finds Egria in Bohemia, near Carlsbad, noted for glass and paper factories. Delighted by the discovery, he turns to Watson, who concludes that the paper was made in Bohemia.
"Not at all. The 'G' with the small 't' stands for 'Gesellschaft,' which is the German for 'Company.' It is a customary contraction like our 'Co.' 'P,' of course, stands for 'Papier.' Now for the 'Eg.' Let us glance at our Continental Gazetteer." He took down a heavy brown volume from his shelves. "Eglow, Eglonitz—here we are, Egria. It is in a German-speaking country—in Bohemia, not far from Carlsbad. 'Remarkable as being the scene of the death of Wallenstein, and for its numerous glass-factories and paper-mills.' Ha, ha, my boy, what do you make of that?" His eyes sparkled, and he sent up a great blue triumphant cloud from his cigarette.
「まるで違うよ。小さな『t』のついた『G』は『ゲゼルシャフト』の略で、ドイツ語で『会社』という意味だ。英語の『Co.』と同じ、よくある略し方だよ。『P』はもちろん、『パピーア』、つまり紙のことだ。さて、残るは『Eg』だ。大陸地名辞典をのぞいてみよう」彼は棚から、ずっしりした茶色の本を一冊取り出した。「エグロー、エグロニッツ、と……あった、エグリアだ。ドイツ語を話す国、ボヘミアにあって、カールスバートからそう遠くない。『ヴァレンシュタインが死んだ地として、また数多くのガラス工場と製紙工場によって知られる』ははあ、どうだい、きみ、これをどう見るかね」彼は目を輝かせ、勝ち誇ったように紙巻きたばこの青い煙を大きく吹き上げた。
"The paper was made in Bohemia," I said.
「その紙はボヘミアで作られたんだね」と私は言った。