The Puzzle

Pugh came into my room holding something wrapped in a piece of brown paper. "Tress, I have brought you something on which you may exercise your ingenuity." He began, with exasperating deliberation, to untie the string which bound his parcel; he is one of those persons who would not cut a knot to save their lives. The process occupied him the better part of a quarter of an hour. Then he held out the contents of the paper. "What do you think of that?" he asked. I thought nothing of it, and I told him so. "I was prepared for that confession. I have noticed, Tress, that you generally do think nothing of an article which really deserves the attention of a truly thoughtful mind. Possibly, as you think so little of it, you will be able to solve the puzzle."