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Full text: Japanese translation and original English

Holmes explains why he considers the paper John brought so important. How are the people sending the letters connected with the events that have overtaken the family? Watson asks what name is represented by the three recurring letters. Their conversation before the fire turns to identifying the meaning of those initials.

"The papers which Openshaw carried are obviously of vital importance to the person or persons in the sailing-ship.「オープンショーの持っていた書類が、その帆船の一人か何人かにとって、極めて重要なのは明らかだ。
I think that it is quite clear that there must be more than one of them.相手は一人ではない、とはっきり考えてよいと思う。
A single man could not have carried out two deaths in such a way as to deceive a coroner's jury.一人の男に、検視陪審を欺くようなやり方で二人を死なせることはできなかっただろう。
There must have been several in it, and they must have been men of resource and determination.何人かが関わっていたに違いなく、しかも知恵と決断力のある者たちだったはずだ。
Their papers they mean to have, be the holder of them who it may.書類を持っているのが誰であろうと、自分たちの書類を取り戻すつもりなのだ。
In this way you see K. K. K. ceases to be the initials of an individual and becomes the badge of a society."こうして見ると、Ｋ・Ｋ・Ｋは個人の頭文字ではなくなり、ある団体のしるしになる」
"But of what society?"「だが、何という団体だい」
"Have you never—" said Sherlock Holmes, bending forward and sinking his voice—"have you never heard of the Ku Klux Klan?"「一度も聞いたことがないのか」とホームズは前かがみになり、声を落とした。「クー・クラックス・クランを聞いたことがないのか」
"I never have."「一度もない」
Holmes turned over the leaves of the book upon his knee.ホームズは膝の本のページをめくった。
"Here it is," said he presently:「あったよ」と、やがて彼は言った。