It’s the only apostrophe I can make out. There may be another; but am not sure. Also uses wld and al a lot and several dashes.
Note, the three numbers and apostrophe on the first page. Dollars to donuts that’s an address.
As a bit of background, I recall reading that this fellow was a high-school dropout that was likely involved in local criminal circles. Codebooks are common where there’s money laundering or drug trade, so that fits as well.
I’m guessing the code is more of a personal shorthand than a real cipher, and coupled with the man’s educational background and probable urban criminal culture means that he could be using personal code letters for badly spelled words or street slang.
Still, I’m willing to bet that it’s not a particularly complex code and in no way rises to the level of a one-time-pad. Little clues like the numbers and apostrophe may allow one a rough guess at the meaning, and a bit of further insight into the code if the guess correlates to known information about the person and his habits.
So, I’m guessing that the 194 WLD’S is an address and street name. Three letters... Martin Luther King? Maybe that would account for the possessive. Google shows multiple “Martin Luther King Drive” streets around Saint Louis and ESL. Interesting spelling/naming in my experience, as most such streets are named MLK Jr. Boulevard. Google maps shows a VERY rundown urban area around an Acme Glass shop in the area, with some other possible hits for the address elsewhere.
Lots of ncbe’s also, kind of implies that it’s a straightforward substitution code. I wonder what a letter count would show?