Cut the codfish into one quarter inch slices across the grain. Soak it in lukewarm water overnight to draw out the salt and soften the fish. Drain the fish in the morning and simmer it in fresh water for 10 minutes. Melt the butter in a saucepan, add the flour and pepper and blend well. Gradually add the milk. Cook until thickened and add a dash of Tabasco sauce. Pour a small amount of the cream sauce into the beaten egg, stirring constantly, then mix the fish, egg, and sauce together and serve on hot buttered toast.